Gift tax Subject : Economy Context: The Supreme Court ruled that shares within the lock-in-period are not ‘quoted shares’, and thus they need to be valued as ‘unquoted shares’ to determine the gift tax liability. Details: The issue related to whether the gifting of the promoter’s locked-in shares should be treated as quoted […]

    Abuse of Dominant Position and related news Subject: Economy Context: The Competition Commission of India (CCI) imposed a penalty of Rs 1,337.76 crore on Google for abusing its dominant position. Details: Mandatory pre-installation of the entire Google Mobile Suite (GMS) under Mobile Application Distribution Agreement (MADA), with no option to uninstall the same, […]

    Customs’ SWIFT  Subject : Economy Context: The government is now planning to introduce a single window clearance system for exports. Details: It is planned to create a  web-based registration of goods, including from special economic zones. It would facilitate integration of Customs ICEGATE with other regulatory agencies to ensure faster clearances for export […]

    Fitch Ratings about Indian economy Subject: Economy Context: Global rating agency Fitch on Wednesday said India’s external buffers appear sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices. State of Indian Economy  External finances are becoming less of a strength in India’s credit profile, […]