• Markets on the Internet and Foreign Investment

    April 4, 2016 | Smrithi Punnoose

    The recent Press Note issued by the Department of Industrial Policy and Promotion on March 29, 2016 (“Press Note”) has contributed immensely to the hullabaloo surrounding the hot topic of foreign direct investment (“FDI”) in the e-commerce sector. There seems to be a great amount confusion on whether to applaud and give the Government a
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  • Fund Managers: Welcome to India

    March 28, 2016 | Vishal Achanta

    The last few years have seen the introduction of several pro-funds industry measures on the tax side in India. One notable measure was the insertion of a ‘safe harbour’ provision into the Income Tax Act, 1961 (“ITA”) to protect offshore funds (hereinafter, “funds”) from the adverse tax consequences of having an onshore fund manager (“Safe
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  • Business Income or Capital Gains? Question Resolved!

    March 23, 2016 | Rajshree Lohia

    The Central Board for Direct Taxes (“CBDT”) has, vide Letter F. No.225/12/2016/ITA.II dated May 2, 2015 (“Letter”), issued a clarification regarding the characterization of income arising from the transfer of unlisted shares. The clarification has been issued to resolve the oft litigated matter of characterization of income from the sale of shares (i.e., whether such
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  • Startup funding: All you want to know about term sheets

    February 18, 2016 | Vijay Sambamurthi

    Startups and funding go hand-in-hand. First-time entrepreneurs are keen to bring angel investors and VC funds on board. That’s when all the documentation and legalities come into the picture. Several entrepreneurs find it difficult to understand legal documents. One such document is the ‘term sheet’. Vijay Sambamurthi, founder and managing partner at law firm Lexygen,
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