INSIGHTS

Introduction : The construction and infrastructure industry has long-term contracts, which involve a staggered delivery of goods/services and payments made against such delivery. Milestone billing is sometimes used as a method of payment which means that payments are due upon the completion of specific stages of the work such as foundation, superstructure, systems installation, completion and handing over the project for use by the employer. While this is good for ensuring th

Introduction : The Indian gaming industry, which involves real-money, is facing its great depression and survival test. As on 27th May, 2026, The Supreme Court of India has delivered a landmark verdict in the cases of DGGI v. Gameskraft Technologies. The Court upheld the constitutional validity of the financial landscape of a 28% Goods and Services Tax (GST) rate applied retrospectively on the full face value of player deposits. By providing a distinction between “games of sk

Introduction : India's online gaming industry has evolved from a mere pastime to a digital economy. This economy was valued at INR 232 billion in 2024 and is estimated to reach INR 316 billion by 2027. For decades, the Indian Judicial system has built a firm line between games of skill, where a player's capability determines the end result, where in games of chance, luck decides the end result. The Goods and Services Tax Amendment Act 2023 imposed 28% tax on the full face val

Introduction : The authority of income-tax officials to revisit a finalised assessment is among the most debated aspects of Indian direct tax governance. It lies at the crossroads of two conflicting public interests: the government's rightful desire to tax income that has not been assessed, and the taxpayer's equally valid desire for the finality and certainty of resolved cases. This tension is addressed in law through a framework of limitation periods and procedural protecti

Introduction : The landscape of non-resident tax compliance in India has undergone a significant shift in 2026 with the implementation of the new Income-tax Act, 2025. Some notable change has been made for NRIs, foreign companies, and cross-border investors which is the replacement of Form 10F with Form 41 for the purpose of claiming benefits under Double Taxation Avoidance Agreements also known as DTAA. This update is effective from April 1, 2026 and aims to strengthen verif

Introduction : The internationalization of the operations of firms has become common today and one way this manifests itself is through the mobility of personnel from one country to another. International mobility is simply a part of the operations of contemporary businesses. The firm may send its workers from one nation to another for a certain period of time to provide some kind of expertise to other units of the firm in order to manage the projects or expand the business.

Introduction : Mergers in the corporate field serve as very important instruments for market expansion and strategic operational consolidation. But, the effectiveness of a merger relies heavily on the financial neutrality of the same along with tax continuity being an important aspect. The concerned legislation in India dealing with the same is the Income Tax Act, 1961, which provides mechanisms for the tax-neutral restructuring in cases of corporate mergers. Looking at the

Introduction : Corporate share buybacks have become one of the most scrutinized tools of tax policy in India, and the Finance Act, 2026 marks the third significant change in their taxation since 2019. Under Section 115QA, buybacks were taxed at a flat rate for the company and this income is tax-exempt for the shareholders. The Finance Act, 2024 has abolished this company - level levy and treated the whole buyback proceeds as deemed dividend in the hands of the shareholders. T

Introduction : Cloud computing has fundamentally transformed the manner in which businesses procure computing resources. Instead of purchasing and maintaining physical servers, enterprises increasingly subscribe to Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), managed hosting, colocation facilities, and other cloud-based solutions offered by multinational service providers. While these arrangements improve operational efficiency and scalability, they simul

Introduction : The assignment of leasehold rights of the industrial plots has been a highly debatable issue under the Goods and Services Tax regime in India. Across India the State Industrial Development Corporation allots industrial plots through long-term leases, typically for 30 years or more rather than a sale. Generally two types of transactions arise from it; First, the primary allotment of the lease by the State Corporation and Second, the secondary assignment of the l

Introduction : Let’s consider the case of a foreign investor who invested in an Indian company prior to 1 April 2017 and aims to exit in 2026 via a restructuring. The investment was grandfathered, but it was unclear whether the subsequent transfer would be subject to the General Anti-Avoidance Rules (“GAAR”). The uncertainty was further compounded by the Supreme Court decision in the Authority for Advance Rulings (Income Tax) & Ors. v. Tiger Global International III, which co

Introduction : Carbon credits are essentially certificates that represent one tonne of greenhouse gas emissions either avoided or removed. They're bought and sold on carbon markets — some government-run, like the EU ETS, others voluntary — and they work a bit like shares in a company: instead of a right to profits, you're trading a right to emit (or a right to claim you've offset emissions). And just as trading stocks can trigger tax liabilities, trading carbon credits should

Introduction : Thousands of students, professionals and families in India send money overseas annually to pay for tuition fees, living costs, medical care, investments, or to support family members. Remitting money abroad is not only a banking transaction, but also a reportable event under the Indian tax and foreign exchange law. The banks have the ability to withhold tax at source on such remittances and Income Tax Department is also receiving the details of such remittances

Introduction : A new tax era has begun which came into force from April 1, 2026, notified by CBDT making the most significant overhaul of direct tax in over six decades. A lot of changes have been introduced and many are kept the same just by changing sections. The new Act emerged as a restructured statute built around a single, simplified idea “Tax year” in place earlier confusing Introduction terms Like “previous Year” and assessment Year” that have been in the system for

Introduction : If you have ever found yourself in the uncomfortable position of explaining to a client why the tax authorities wanted to treat a seemingly innocuous long term lease assignment as a taxable supply, you are in good company. Developers have been complaining, and quite rightly so, that the assignment of long-term leasehold rights in industrial plots (GIDC land allotments in Gujarat, MIDC plot allotments in Maharashtra and similar rights in other states) have been

Introduction : Employee Stock Option Plans (ESOPs) are becoming an increasingly important part of the remuneration package in the start-up and technology sectors in India, as they provide employees with compensation that depends on the company's value. Unfortunately, ESOPs are also a very illiquid form of asset unless the employees are able to convert their paper gains into cash through a liquidity event. The primary liquidity options for private companies before their initia

Introduction : Startup founders and their advisors have been grappling with the implications of changes in DPIIT recognition rules during the first half of 2026, seeking to understand both what has changed and what has not. According to the notification dated 4 February 2026, the turnover threshold for recognition as a startup has been doubled, which is positively received by the growth-stage companies. However, the turnover thresholds applicable to claiming tax holiday under

Introduction : A historic transformation has taken place in the Indian economic sector after six decades. India has entered into the new regime of direct tax laws. The Income Tax Act, 2025 is a specialised law that governs the income taxes in India. It is the fundamental statutory legislation that empowers the Central Government to regulate and supervise the collection of taxes levied on individuals, business or institutional entities in the economic sector. The Income Tax Ac

Introduction : The Income tax Rules,2026 have changed the way employers approach payroll and tax compliance. Payroll is no longer restricted only to calculate the salary; Now, it requires careful verification of employee declaration, timely deduction of tax, accurate record keeping and regular reporting. In this practice, the businesses that maintain their updated payroll system are less likely to face notices, penalties and employee complaints. This Blog will discuss the ope

Introduction : India’s tax and corporate law landscape has seen significant change in the past eighteen months. The Income-tax Act, 2025 was passed by the Parliament in August 2025 and came into force on 1 April 2026, replacing the Income-tax Act, 1961 after more than six decades. At the same time, the fast-track merger route was expanded by the Ministry of Corporate Affairs, and India’s four new labour codes came into force. None of these changes occurred in a vacuum, and fo