IT industry

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Overview

As envisaged in the IT Policy of 2023[1] (2023 IT Policy), Maharashtra Government, in accordance with the powers vested in it under Section 9 of the Maharashtra Stamp Act on February 1, 2024[2], issued the much awaited notification (2024 Notification) on full or partial waiver of stamp duty available to eligible new and expansion diversification units or projects, relating to Information Technology (IT), Information Technology Enable Services (ITES), Animation, Visual Effects, Gaming and Comics (AVGC) units, Data centres and Emerging Technology Units, (collectively IT/ITES Unit). The 2024 Notification is valid from June 27, 2023, to June 26, 2028, (both days inclusive) or for the currency of the 2013 IT Policy.Continue Reading Stamp Duty Exemption Under IT/ ITES Policy, 2023

Moonlighting

Introduction

Moonlighting is the colloquial term used to refer to the practice of employees working a second job, in addition to their primary job. The last few weeks saw myriad news reports on this practice in start-ups and the IT/ITES industry. Most companies have released statements opposing the practice and some have even taken action against moonlighting employees. Some companies have, however, indicated that they are open to allowing employees to moonlight within a defined framework.Continue Reading Moonlighting – Legal Considerations and Contractual Regulation