Income arising from crypto sales prior to April 1, 2022 to be taxed as capital gains and not as income from other sources
Background
An individual salaried taxpayer (the “Individual”) purchased bitcoins during the financial year 2015-16 and sold them in the financial year 2020-21. In the tax...
Banking Laws (Amendment) Bill, 2024: Key insights
The Banking Laws (Amendment) Bill, 2024 (the “2024 Bill”), which was introduced in the Lok Sabha on August 9, 2024 and passed on December...
Cross-border share swaps made easier through amendments to India’s foreign exchange regulations
The Indian government has recently notified the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (the “Amendment Rules”) to amend the Foreign Exchange...
M&A and PE impact due to changes in India’s competition law regime
The Competition (Amendment) Act, 2023 (the “2023 Amendment”) was introduced on April 11, 2023, to amend the Competition Act, 2002 (the “Act”) and, inter...
Profit attribution to a Permanent Establishment in India – A vexed issue
Background
Foreign companies in India are often subjected to a tax audit scrutiny by the Indian tax authorities to check if they have a Permanent...
