by Majmudar & Partners | May 21, 2015 | Corporate/M&A, Foreign Investment
Introduction On May 12, 2015, the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (the “DIPP”) issued the consolidated foreign direct investment policy circular of 2015 (the “FDI Policy 2015”). The circular on...
by Majmudar & Partners | Apr 29, 2015 | Foreign Investment, Private Equity and Venture Capital, Tax
Background Minimum Alternate Tax (“MAT”) is a tax levied under the Income-tax Act, 1961 (“IT Act”) on the book profit of a company where the overall tax paid by the company is less than 18.5% of the book profit. Generally speaking, in the case of non-resident...
by Majmudar & Partners | Apr 2, 2015 | Tax
In his budget speech on February 28, 2015, the Finance Minister (“FM”) made it clear that black (unaccounted) money was eating into the Indian economy and this problem would have to be tackled forcefully. While the FM acknowledged that there were limitations under...
by Majmudar & Partners | Mar 26, 2015 | Disputes and Arbitration, Technology, Telecommunication and Media
Introduction On March 24, 2015, the Hon’ble Supreme Court of India (the “SC”) pronounced its judgment on constitutional validity of Sections 66A, 69A and 79 of the Information Technology Act, 2000 (the “IT Act”) and the Information Technology (Intermediary Guidelines)...
by Majmudar & Partners | Mar 13, 2015 | Foreign Investment, Insurance Law
Introduction On December 26, 2014, the President of India promulgated the Insurance Laws (Amendment) Ordinance, 2014 (the “Ordinance”) to amend the Insurance Act, 1938 (the “Act”), the General Insurance Business (Nationalisation) Act, 1972, and the Insurance...
