Advocate (Dr.) Prashant Mali's Blog

TAXATION  OF  BITCOIN  AND  OTHER  CRYPTO CURRENCIES IN  INDIA 😊 To understand the tax implications of Cryptocurrencies in India, the following points need to be understood under the context of the Income Tax Act: 1) Business Income - These are the profits and gains received from any business or profession carried on by the tax payer at any time during the Financial Year. It includes 'any' compensation received or other payment due to be received. Further, the compensation may be received in Cash or Kind. 2) Capital Gains - It means any income which has been derived from a 'Capital Asset' (whether movable or immovable) 3) Capital Asset - It means property of any kind held by the taxpayer, whether or not connected with his business or profession. However, this does not include any Stock in Trade Note: Since the cryptocurrencies have not been declared as legal tender by the Reserve Bank of India, these cannot be considered as legal tender (cash)...

Can GDPR Fines be covered under Cyber Insurance coverage in India? By Prashant Mali,  Cyber Law & Privacy Expert. Cyber policies usually grant cover for civil fines provided that these fines are “ insurable at law ”. Where insurance for fines and penalties is available, this is usually as part of an operator’s general liability policy, although, as set out above, there is no general rule and some such policies routinely exclude such cover). In addition, prudent directors of port and terminal operators who are faced with the possibility of personal exposure to civil fines will take steps to ensure that their D&O policy will cover them if they are investigated personally.  Example Policy Terms Insurance coverage is available for fines and penalties. A popular form of cyber insurance includes, as an item of covered loss: [C]ivil fines or penalties imposed by a governmental agency and arising from a Regulatory Action, unless the civil fin...

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Prashant Mali SKYDIVING Thrilling Experience in Dubai 16th October first day of Diwali festival in India, so when India started their Diwali celebrations i was booked for my life time experience at the Dubai Skydive i.e the agency which helps people sky dive in dubai. The cost is around Rs. 35000 which includes flying, diving and photography with storage device. i was called to checkin at 12:00 had a long wait till 2:15 PM as i had a long rush before and a lunch break. I found many girls from Asia and americas and 20 percent boys strange but true. there 2-3 type of divers like professionals, amateurs and first timers like me. The energy in the camp is vibrant and radiant. Jumpers go and come back in regular time intervals, it is a 20 minute journey. I dont know but i had a sheer determination and focus so even beautiful girls around me didn't bother me much nor did i was talking to any one. I waited for my chance to come, once my name was announced i found out one guy from ...

Final Judgement for Download E-tender case of BDD Chawl Development project of MAHADA Verified button pressing not registered on the software, but the tender files submitted on the server. Hon. Bombay HC asks NIC to team with MAHADA to submit the uploaded files and consider Shapoorji Pallonji Co. Pvt. Ltd as valid bidder. T his was the best landmark judgement where i (Prashant Mali) was acting as Expert Legal Counsel in e-tender matter along with Iqbal Chagla & Ravi Kadam (famous Sr. Advocates). My Legal opinion delivered earlier played a crucial role in defending the matter. For this was one of the historical case in my carrier and also is a landmark case in e-tender and Information technology domain. Shapoorji Pallonji & Company Pvt. Ltd. Vs State of Maharashtra, Mhada, NIC & Ors A interesting Judgement in e-tender & technology Case of Bombay High Court 11000 Crores India Biggest Redevelopment Project of BDD Chawls in Mumbai The bid doc...