JSA ADVOCATES AND SOLICITORS
Income tax Budget 2024 expectations: 10 ways the finance minister can ease income tax and financial burden of senior citizens
Income tax Budget 2024 expectations: A notable percentage of taxpayers in India are senior citizens since they receive income, frequently through passive means. ET Wealth Online interviewed three specialists to discuss senior citizens' expectations for the forthcoming Union Budget 2024.
Sebi’s diktat on IPO-bound companies gives a jolt to PE investors
Sebi is intending to advance the timing of terminating special rights, from the date of listing of IPO shares to the date of filing of updated DRHP.
Modi 3.0: Industry seeks roadmap to cement India's lead in global digital arena, vows support
The Digital Infrastructure Providers Association (DIPA) has expressed full support for India's digital and telecom transformation under the new government, emphasising the need for a clear roadmap to solidify the country's leadership in digital infrastructure. DIPA highlighted the success of initiatives like Digital India and PM WiFi Access Network in enabling broad digital adoption, with Director General Tilak Raj Dua stressing the industry's readiness to collaborate with the government.
Law Firm SAM & Co’s Partners Iqbal Khan and Ambarish to Join JSA with 20-Member Team
Iqbal Khan and Ambarish from Shardul Amarchand Mangaldas & Co are moving to J Sagar Associates with their team. The move will enhance JSA's PE and M&A practice, as stated by Amit Kapur and Vivek K. Chandy.
Employees at India’s top law firms likely to bag handsome payouts this year
Law professionals said employees are likely to get an average salary increase of 10-15%, with high performers set to bag 20-25% increments as firms try to reward and retain top talent that gives them the competitive advantage. Bonuses for top performers could go as high as 120-150% of the initial targeted variable pay, said senior company officials. By contrast, average salary increments across industry sectors in India in 2024 could be 9%, marginally lower than last year’s 9.2%, said a recent survey by management consulting firm Deloitte.
Govt proposes exempting certain M&A deals from CCI approval requirement
Draft rules to exempt certain categories of combinations from the Competition Commission of India (CCI) approval requirement have been issued by the corporate affairs ministry. Vaibhav Choukse, Partner & Head - Competition Law at JSA Advocates & Solicitors, said the draft rules enlist certain kinds of M&A (Merger & Acquisition) transactions which will not require approval from the CCI.
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Sebi's exemption to ease compliance burden for FPIs
The Securities and Exchange Board of India (Sebi) has exempted overseas funds, having more than 50% of their India equity assets under management in a single corporate group, in case the concentrated holdings of the funds are in a listed company with no identified promoter.
Is fractional ownership of real estate safe? Here's how SEBI is making it safer for retail investors
New Sebi rules on fractional ownership: Investors who were unable to buy whole property due to cash crunch can invest in the real estate via fractional ownership. However, without proper regulation, there was always a question whether such investments are safe. The new Sebi rules on REITs makes the fractional ownership of real estate investment safer for retail and HNI investors.
CCI's powers to penalise on global turnover basis to deter anti-competitive ways
The competition law provision of imposing penalties based on global turnover will act as a deterrent to violations, encourage commitments and settlements, and help in corrective measures. The Competition Commission of India now has the power to impose such penalties, impacting companies with multi-products or multi-services and cases related to digital markets.
Government notifies changes in competition law related to M&As
"The government has increased the existing financial thresholds as prescribed under Section 5 of the Competition Act by 150 per cent. Further, the De Minimis or the Small Target Exemption thresholds have also been increased. This is in line with the government motto of ease of doing business in India as less M&A deals would require CCI approval," he said.
Govt notifies settlement, commitment provisions under competition law
According to Vaibhav Choukse, Partner and Head of Competition Law at JSA Advocates and Solicitors, these provisions will enhance CCI's regulatory process, including swifter market corrections, especially in fast-changing digital markets
CCI can now impose fines based on cos' global turnover
The Competition Commission of India can now impose penalties on companies based on their global turnover. The amendment is likely to have major implications on multi-product companies and those with global operations, leading to the use of settlements or commitments to avoid steep penalties.
Viacom18-Star merger may face intense CCI scrutiny
The proposed merger between Viacom18 and Star India is likely to face scrutiny from the Competition Commission of India (CCI) due to their significant market shares in the TV and streaming segments. The CCI might order divestment of channels and conduct a detailed investigation.
Don't allow manual entry of bids, power regulator tells exchanges
The Central Electricity Regulatory Commission has issued directives to power exchanges to prohibit manual entry of bids on behalf of members during or after trading hours and to reject any bids submitted after trading hours. It has also ordered audits of the processes and software of the exchanges to ensure compliance with the Power Market Regulations 2021. Additionally, the commission has disallowed extensions to trading hours except in cases identified by the system operator.
11 ways of tax savings for salaried individuals for FY 2023-24
11 tax deductions for salaried individuals: If you want to save tax for FY 2023-24 then there is still time. Given below is a list of 11 tax deductions which you can claim upon fulfilling certain investment or other criterias. These tax deductions can help you lower your total income and thus reduce your tax outgo.
Banking access may be at risk if you seek to delete credit data
Technology experts and policy lawyers were split on whether CICs can be exempt under the new data law and if people can request complete data deletion for privacy reasons.
Income tax payable on winnings from online, offline games of chance
E-commerce websites like Amazon, CRED, others oftentimes runs free to play gaming contests like spin-the-wheel and others. For the purpose of income tax these games are a game of chance and are taxed at flat 30% rate plus cess, etc. Nonetheless there are some things to consider if an individual has won prizes by playing similar offline or online games.
Evaluating new data law's efficacy amid growing security concerns
From social media interactions to ecommerce transactions, our digital footprint has grown exponentially, creating an intricate web of personal details accessible to both legitimate entities and malicious actors. The consequences of this heightened exposure are multifaceted, affecting individuals and governments alike.
Go First lenders seek to be party in aircraft lessors’ case in Delhi HC
Lenders, led by Central Bank of India, argued that the lessors’ pleas seeking deregistration of their planes leased to the grounded airline pose a risk of lessors’ interests getting priority over those of lenders.
Shreyas Shipping to delist from exchanges. Will retail investors get a fair exit?
Shreyas Shipping and Logistics promoters have suggested delisting the company from exchanges to obtain full control over operations, reducing compliance costs and providing more time for business operations. Under this proposal, Shreyas Shipping's shares would be purchased from public shareholders through reverse book building. This move could enable an exit opportunity for shareholders at a premium from current market prices. The board meeting for this proposal is scheduled for May 24th. The company's undervaluation could allow promoting group Transworld Group to obtain the shares at a discount.
Finally, demat shares can be locked-in under system
The holding of demat securities, transfer of or dealing with such securities etc are controlled and facilitated through depositories.
Processing FDI proposals: The way forward
As per the FDI policy, applications for retail trading activities are to be processed by DIPP, before such applications are considered by the FIPB for Government approval.
Why removal of independent directors is not an ordinary affair
The Companies Act prescribes the criteria for an individual to be eligible for appointment as an independent director.
Cyrus Mistry ropes in senior advocates to fight legal battle against Tata Group
"We have not decided whether to file a case at the National Company Law Tribunal or in the high courts,’’ said a person close to the development.
Budget 2014: Three reforms needed in banking and financials sector
The financial services and banking sector keenly awaits many a strong measure of policy reform and decisive direction.
KSS Petron moves HC to cancel ONGC’s Rs 1,000 crore contract to Technip unit
In its petition, KSS Petron accused ONGC of favouring Technip KT India Ltd on the contract related to an onshore terminal development.
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