The Reserve Bank of India is proactively taking steps to ensure that customer payment data is processed and stored in India and is initiating actions against any company (including multinationals) who are in breach.
Please view our discussion on the factual matrix and implications in this brief presentation.
About the Author
Swati Agrawal is an Associate at Majmudar & Partners.
Download .pdf Background In July 2024, India’s Finance Minister announced that a comprehensive review of the existing Income-tax Act, 1961 (the “IT Act”) would be undertaken with the intent to make the tax law simple and to minimize tax controversy. The Finance...
Download .pdf Late last year, the Indian government released a draft of the proposed Arbitration and Conciliation (Amendment) Bill, 2024 (the “Draft Amendment Bill”). The Draft Amendment Bill proposes to amend the Arbitration & Conciliation Act, 1996 (the...
Download .pdf India’s Union Budget (the “Budget”) was announced on February 1, 2025, and the Finance Bill, 2025 (the “Finance Bill”) was tabled in Parliament. The Finance Bill will be discussed in Parliament before its enactment, and it is likely that it will be...
Download .pdf Prior years - A quick preview 2023 was a year of significant global challenges, including interest rate hikes and ongoing geopolitical conflicts. While 2024 began with optimism for economic growth and increased deal activity, persistent geopolitical...
Download .pdf 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 return, the Individual claimed that the bitcoins sold qualified as a capital...
Download .pdf The Banking Laws (Amendment) Bill, 2024 (the “2024 Bill”), which was introduced in the Lok Sabha on August 9, 2024 and passed on December 3, 2024, seeks to modernize India’s banking framework by amending five (5) important statutes: (i) Reserve Bank of...