DPIIT Recognized Start-Ups Will Not Face Angel Tax Scrutiny : Cbdt Clarifies Section 56(2)(viib) of the Income-tax Act, 1961 stipulates that where a company (other than a public listed company) receives consideration for shares which exceeds the fair market value (“FMV”) of the shares, the excess consideration would be chargeable with income tax, under the […]
DPIIT Recognized Start-Ups Will Not Face Angel Tax Scrutiny Read More »
Key Highlights Of Prevention Of Money Laundering (Maintenance Of Record) Third Amendment Rules, 2023 And The Impact On Vdasps The Ministry of Finance on October 17, 2023 notified the Prevention of Money Laundering (Maintenance of Record) Third Amendment Rules, 2023 (“Amendment”) to amend the Money Laundering (Maintenance of Record) 2005 (“PMLA Rules”). Following are some
Highlights of PMLA (Maintenance of Record) 3rd Amendment Rules, 2023 & Impact on VDASPs Read More »
The Reserve Bank of India (RBI), through its a circular dated: October 17, 2023, amended the Master Direction on Know Your Customer (KYC) (“Master Directions”) to impose stricter Customer Due Diligence (“CDD”) guidelines, instructing regulated entities (which, inter alia, includes NBFCs, scheduled commercial banks, payment system providers, prepaid payment instruments etc.) (“RE”) to adopt a
Breaking Down the Amendments to RBI’s Master Direction on KYC Read More »
Delineating The Difference Between A Payment Aggregator – Cross Border And An Online Payment Gateway Service Provider On October 31, 2023, the Reserve Bank of India (RBI) through its circular named Regulation of Payment Aggregator – Cross Border; (the Regulations), has brought all entities involved in facilitating cross-border payments for the import and export of
RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border Read More »
At Burgeon Law we believe in taking a hands-on approach to dealing with ‘Data’, ‘Data Privacy’, ‘Data Protection’, ‘Personally Identifiable Information’ and ”Sensitive Personal Information’ which are the standard terms that one hear while dealing with information technology (IT) and IT security these days. With the Information and Technology Act, 2000 coming into force and
Investing in startup companies has always been an exciting prospect for investors around the world. The rise of blockchain technology has unlocked new avenues for investors to participate in the growth of startups. Non-Fungible Tokens (NFTs), which are unique digital assets stored on a blockchain, have emerged as a potential tool for investing in startups.
Investing in start-ups through non-fungible tokens Read More »
Withdrawal of Personal Data Protection Bill The Central Government on Wednesday withdrew the heavily deliberated Data Protection Bill, 2019 (“Bill”) as per a statement circulated to Members of Parliament in the ongoing monsoon session. The Union Minister for Electronics and Information Technology, Ashwini Vaishnaw stated that the bill was deliberated at great lengths by the
The Ministry of Electronics and Information Technology has broadened the scope of using digital signature certificates in executing certain documents through its notification dated September 26, 2022, amending the Information Technology Act, 2000 (“Act”).The first schedule of the Act excludes certain transactions or documents from the Act’s purview thereby invalidating the use of digital signatures.
MEITY expands the scope of digital signature certificates Read More »
The Ministry of Electronics and Information Technology (“?????”) published the draft Digital Personal Data Protection Bill, 2022 (“???? ????”) on November 18, 2022 for public consultation. The 2022 Bill is open for comments from the public until December 17, 2022.The previous iterations of the data protection bill have been shortened and revised to bring in
Introduction of the Digital Personal Data Protection Bill Read More »
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