From the 20th century, there have been so drastic changes take place which have impact on the

commerce. - from a proprietorship to an MNC- from small variety of tangibles to diverse variety of intangibles- from a market of few miles to a global market is supported by internet. No doubt, we have develop a lot. In the last few years the methods and style of trading have changed.

Trading electronically is no longer new now.

E- commerce will revolutionize trade and commerce. e- commerce would include transactions involving delivery and payment in traditional manner if offer and acceptance of offer is through a network. most businesses are moving towards the digital market place as it offers infinite choices.

The trend of globalization. The increasing volume of organizations.

Business transformation.
The growing use of globalization. Changes in the computer system and computer software.

The above discussion indicate the extent of domestic and cross border e-commerce in India. All this require the comprehensive cyber law in place for regulating the electronic business in the country. With this view in mind, the govt. of India brought information technology bill 2000 in the parliament and the bill has passed in the same year. In may 2000, both the houses of the Indian parliament passed this bill. The bill received the assent of the president in august2000 and came to known as the INFORMATION TECHNOLOGY ACT, 2000. Cyber law are contained it the IT act, 2000. This law has a major impact e-businesses and new economy in India.

This act aims to provide a legal framework to the businesses and a legal infrastructure for the e-commerce in India. This act specify that any subscriber may authenticate an electronic record by affixing his digital signature. it also specify the various forms and contents of the Digital Signature Certificates. This act give details of the things relating to Digital Signature Certificates. It also specify the duties of the subscriber. This act talk about the penalties adjudication for various offences. The penalties for damages to computer and computer systems, etc has been fixed as damages by way of compensation not exceeding 1 crore to affected person. This act talks about various offences and the said offences shall be investigated only by the Police Officer not below the rank of the Deputy Superintendent of Police.

The IT act 2000 attempts to change outdated laws and provide ways to deal with cyber crimes. We need such laws so that people can perform purchase transactions over the net without fear of misuse. The act offer the much needed legal framework so that information is show legal effect, validity, or enforceability. Companies shall now be able to carry out electronic commerce using the legal infrastructure provided by the act. Digital Signature have been given legal validity and sanction in the act.

The act throws open the doors for the entry of corporate companies in the business of being certifying authorities of issuing digital signature certificates.

The act allows govt. to issue notification on the web.

The act also addresses the important issues of security which are so critical to the success of electronic transactions. Under The act it is possible for the corporate to have a statutory remedy in case if any one breaks into there computer system or network and causes damages or copies data. the remedy provided by the act in the form of monetary damages not exceeding rs. 1 crores.

Reference Books: 1. Business Law: M C Kuchal