Author: Srishti Singh
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How New IRS Rules Affect SaaS Resellers in the U.S.
The Internal Revenue Service (IRS) has recently issued final regulations that significantly impact resellers of Software-as-a-Service (SaaS) products, especially for U.S.-based companies dealing with foreign vendors. These changes, which build on the foundations set by the 2019 Proposed Regulations, shift the landscape of how cloud transactions are treated under U.S. tax law. Let’s delve into…
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How will you save taxes even if you earn more than 12 lakhs?
Finance Minister Nirmala Sitharaman’s Budget 2025 introduces significant income tax relief, exempting individuals earning up to Rs 12 lakh from taxes. The budget clarifies the rebate available under Section 87A and introduces marginal relief for those earning slightly above Rs 12 lakh, ensuring they face minimal tax increases.
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Volkswagen sues Indian government over tax demand of $1.4 billion
Volkswagen has filed a lawsuit against Indian authorities to challenge a USD 1.4 billion tax demand, calling it “impossibly enormous” and contradictory to the country’s import taxation rules for car parts. The German automaker’s Indian unit, Skoda Auto Volkswagen India, argued before the High Court in Mumbai that the tax dispute jeopardizes its USD 1.5…
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Why Apple is ‘not ready’ to remove betting apps from App Store in India?
Apple has told Indian authorities that it will only take down online betting apps from its App Store if there is a “concrete reason or a legal requirement” to do the same Apple, however, has not directly refused to comply with the order issued by the ministry of electronics and information technology, but has clarified…
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Is Tesla going to set up base in India?
Will Tesla finally be setting up its manufacturing plant in India? In a change of approach, Elon Musk’s Tesla is now considering manufacturing in India, this time even suggesting establishing a factory in the country to make electric cars for export as well as domestic sales. It is no longer pressing with its earlier demand…
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Microsoft wins EU antitrust approval for Activision deal vetoed by UK
Microsoft Corp won EU antitrust approval for its $69 billion acquisition of Activision, in a significant boost that could prompt Chinese and South Korean regulators to follow suit despite a British veto of the deal. The U.S. software giant still faces a battle to clinch the world’s biggest gaming industry takeover, however. It has until…
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SC rules that the Delhi Government has control over the bureaucracy
In a dispute between the Centre and the Delhi government, the Supreme Court held on Thursday, 11 May, that the Delhi government has control over the bureaucracy in the National Capital Territory (NCT) of Delhi. A democratically elected government needs to have control over its administration, the Supreme Court said while ruling that the Delhi government has legislative…
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All about Google and Sonos’ trial over Smart Speaker Patent fight
Sonos Inc and Alphabet’s Google LLC will face off in a San Francisco federal trial on Monday over claims that Google copied Sonos’ patented smart-speaker technology in wireless audio devices like Google Home and Chromecast Audio. The case is part of a sprawling intellectual property dispute between the former business partners that includes other lawsuits…
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How a Crypto Investor ended up paying tax of Rs.3 , instead of Rs. 95 Lakhs?
In India, the rules and regulations concerning Crypto are often fuzzy, as a crypto reporter and trader Naimish Sanghvi found out the hard way. Sanghvi claimed to have received an income tax notice that ordered him to cough up 9.5 million Indian Rupees he allegedly owned after crypto trading. However, a further dive into the…
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Foxconn pulls out of India Chip semiconductor JV with Vedanta
Taiwan’s Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi’s chipmaking plans for India. Foxconn, the world’s largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in…
