Q&A on Cryptocurrency, Virtual Digital Assets and Taxation

We were recently asked for an opinion on the taxation on cryptocurrency under the Finance Bill, 2022. The following are the questions and in very short, the answers. The Finance Act, 2022 which governs financial proposals for FY 22-23 has introduced taxation of Virtual Digital Assets (VDA) which is defined under section 2(47A) of the …

WHAT MAKES CONTRACT VOIDABLE UNDER INDIAN LAW

In India, The Indian Contracts Act of 1872 (“the Act”) governs the essential elements of a contract, and dictates that parties entering into a contract should do so with free consent (aka free will). Parties entering into a contract are said to consent when they agree upon the same thing in the same sense. Section …

A MORE UNIFIED LABOUR LAW REGIME WITH THE NEW LABOUR CODES: INDIA

Older than the nations’ independence is its labour laws, and the Central Government is finally attempting to consolidate, unify and improve them through 4 (four) new Acts.  Hailed as modern labour law, the Codes are drafted and designed to improve working condition and more importantly augment ease of doing business in India. The codes consolidate …

Compliances, Tech Companies, proposed Indian Data Protection Act

The Data Protection Bill, 2021 (“Bill”) was introduced in Lok Sabha by the Minister of Electronics and Information Technology in December, 2019, which was tabled before the Joint Parliamentary Committee.  The Bill seeks to provide for protection of personal data of individuals. The Bill governs the processing of personal data pertaining to characteristics, traits or …

CHATBOTS, PRIVACY AND DATA: INDIAN PERSPECTIVE

It is a widely appreciated and accepted concept that customer is king, and following this concept, solving customers’ problems and queries is an essential part of every business. A customer expects flexible engagement and fast resolution(s), and to resolve this, technology companies are developing AI based powerful chatbots. A chatbot is a software based on …