by Majmudar & Partners | Apr 21, 2018 | Corporate/M&A, Foreign Investment
The Companies Act, 1956 permitted inbound mergers, i.e., merger of a foreign company into an Indian company. Even then, there were no foreign exchange regulations on inbound mergers. A key change that was introduced by the Companies Act, 2013 (the “Companies Act”)...
by Majmudar & Partners | Feb 2, 2018 | Policy & Governance Updates, Tax
Introduction India’s Union Budget (the “Budget”) was announced on February 1, 2018, and the Finance Bill, 2018 (the “Finance Bill”) was tabled in Parliament. Most of the income tax proposals in the Finance Bill will be effective from the financial year commencing on...
by Majmudar & Partners | Jun 13, 2017 | Tax
Background Under the existing provisions of section 10(38) of the Income-tax Act, 1961 (the “IT Act”), income arising from the transfer of a long-term capital asset, being equity shares of a listed company or units of an equity-oriented fund, is exempt from capital...
by Majmudar & Partners | Nov 25, 2016 | Tax
There have been a number of important tax developments and cases in India over the last couple of months. In this update, we provide snippets on the new India-Cyprus tax treaty and other key direct tax cases. India-Cyprus Tax Treaty The double taxation avoidance...
by Majmudar & Partners | Nov 9, 2016 | Corporate/M&A, Tax
Major Reform In a big bang reform, effective midnight of November 9, 2016, the Indian government has banned INR500 and INR1000 currency notes (the “Banned Notes”). The decision has been taken to root out fake currency and cash (black) money and eliminate corruption,...
