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Transfer of a ‘Compulsorily Convertible Debenture’ to a third party taxable as ‘capital gains’ and not ‘interest’

We are pleased to present the latest edition of Tax Street – our newsletter that covers all the key developments and updates in the realm of taxation in India and across the globe for the month of April 2025.

The most significant amendment to the Income Tax Act, 1961 ("ITA") introduced by the Finance Act, 2018 was the insertion of a provision imposing a long-term capital gains tax of 10% ...

Welcome to another edition of Beyond Headlines, in this edition, we explore the tax implications of contingent and deferred consideration in a divestment transaction.

The interpretation and implementation of the provisions of a Double Tax Avoidance Agreement has been controversial since the Vodafone-Hutch deal in 2007.

Welcome to the Budget edition of Beyond Headlines! The Finance Bill 2025 introduces several key amendments to the Income-tax Act, 1961, bringing notable changes for individuals, businesses, and financial institutions.

In the words of Indian judiciary "tax planning may be legitimate provided it is within the framework of law. Colourable devices cannot be part of tax planning and it is wrong to encourage or entertain...

The alternative investment funds ("AIF") regime was introduced in India by the Securities and Exchange Board of India ("SEBI") in 2012 under the SEBI (Alternative Investment Funds)...

Section 50B of the Income Tax Act, 1961 (the Act) is a special provision for the computation of capital gains in case of slump sale of an undertaking for a lump sum consideration without values...

The Indirect Transfer Provisions were enacted with retrospective effect from 01/04/1962 and were styled as a clarification.

Under the Income Tax Act 1961, buy back of unlisted shares by a company attracts additional corporate tax in the hands of the company and the resulting capital gains, if any, in the hands of the shareholders are exempt from tax.

On November 19, 2025, the Ministry of Finance announced the Capital Gains Accounts (Second Amendment) Scheme, 2025, marking a vital step towards the modernization of the Capital Gains Accounts Scheme, 1988 (CGAS).

The Assessee1 transferred a depreciable capital asset and computed capital gain from it at INR 752.34 Crores in accordance with the provisions of Section 50 of the Income-tax Act, 1961 (‘the Act’).

The Delhi High Court (Delhi HC) has very recently held in the case of Zaheer Mauritius vs. Director of Income-tax (International Taxation) –II [(2014) 47 taxmann.com 247 (Delhi)]...

The Mumbai ITAT held that Fair Market Value(‘FMV’) of ESOP shares on the exercise date would constitute the cost of acquisition under section 49(2AA) of the Income-tax Act, 1961 (the ‘Act’), notwithstanding that the related ESOP perquisite was not taxable in India. The Tribunal ruled that section 49(2AA) of the Act does not require actual taxation of the perquisite in India and directed recomputation of capital gains by considering FMV of ESOP shares as the cost of acquisition.

The Supreme Court has reiterated the primary basis for difference in taxation of discretionary trusts versus determinate trusts in respect of an offshore trust.

'Crypto Tax' has been the buzzword following the unveiling of India's Union Budget (Finance Bill) for 2022! While a Government bill proposing to ban and criminalise the investment and trading...