India has emerged as a hub of the IT industry due to the phenomenal growth of the IT sector. However, this huge growth rate has brought with it the inevitable legal complications due to a switch over from paper-based commercial transactions to e-commerce and e-transactions. This book 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, 2000 and as amended in 2008. 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 cyber crimes by introducing stringent laws, Part III deals with various rules and regulations which have been introduced to get rid of cyber crimes. Part IV is devoted to a discussion on 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 the miscellaneous provisions of the IT Act. This book is designed as text for postgraduate students of Law (LLM) and undergraduate and postgraduate students of Information Technology EB.Tech./M.Tech. (IT)] and for Master of Computer Applications (MCA) wherever it is offered as a course. Besides, it will prove handy for scholars and researchers working in the field of IT and Internet.