India has emerged as a hub of the IT industry due to the phenomenal growth of the IT sector. However, this huge growth has brought legal complications due to a switch from paper-based commercial transactions to e-commerce and e-transactions. This book, now in its Second Edition, discusses the legal position of Information Technology (IT), e-commerce and business transaction on the cyberspace/Internet under the Information Technology (IT) Act in India. Divided into five parts, Part I of the text deals with the role of the Internet, e-commerce and e-governance in the free market economy. Part II elaborates on various laws relating to electronic records and intellectual property rights with special reference to India. Efforts are being made internationally to rein in cybercrimes by introducing stringent laws; Part III deals with various rules and regulations which have been introduced to get rid of cybercrimes. Part IV is devoted to discussing various offences committed under the IT Act, penalties imposed on the offenders, and compensations awarded to the victims. Finally, Part V acquaints the students with electronic evidence, social media crimes and investigation in cybercrimes. This book is designed as a text for postgraduate students of Law (LLM), undergraduate law students (B.A. LL.B./ BBA LL.B./ B.Com. LL.B.), postgraduate students of Information Technology [B.Tech./M.Tech. (IT)] and for Master of Computer Applications (MCA) wherever it is offered as a course.