Introduction: At August 2022, the bill was presented in the parliament where Lok Sabha of the parliament passed the Bill on March 29, 2023 and Rajya Sabha of the Indian parliament passed the Competition (Amendment) Bill, 3 April, 2023. Purpose The Bill seeks to amend the Competition Act, 2002, which gives the Competition Commission of […]

Introduction: The contribution of NBFCs towards supporting real economic activity and their role as a supplemental channel of credit intermediation alongside banks is well recognized. Over the years, the sector has undergone considerable evolution in terms of size, complexity, and interconnectedness within the financial sector. Many entities have grown and become systemically significant and hence […]

BACKGROUND According to Section 56(2)(viib) of the Income-tax Act, 1961, unlisted companies receiving consideration exceeding the fair market value, for shares issued to Indian residents, are liable to pay income-tax on such excess consideration. This taxation is called angel Tax provision. While FEMA guidelines prohibit a company from issuing shares at a value below fair […]