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Although the concept of re-labelling has been unclear under law, these proposed changes can be viewed as putting an additional burden on re-labelling companies.

The first major lot of assessment orders have been passed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA).

Due to the exigencies created by the COVID-19 pandemic, a worldwide upswing has been observed in global internet use, with many enterprises opting for ‘internet first’ models and customer opting for online transactions. Also, to avert potential health risks to employees, businesses have also increased their dependence on modern automated and interconnected devices (often deployed in remote locations) to monitor business indicators and complete routine operations with limited human intervention.