January 9, 2024

Schedule 1 – The Partnership Act, 1932

Maximum Fees (See sections 70A and 71)   Document or act in respect of which the fee is payable, Maximum fee   (1) Statement under section 58(1) Fifty rupees. (2) Memorandum of appeal under section (4) Twenty-five rupees. (3) Statement under section 60 Fifteen rupees. (4) Intimation under section 61 Fifteen rupees. (5) Intimation under section 62 Fifteen rupees. (6) Notice under section 63(1) Fifteen rupees. (7) Intimation under section 63(1A) Fifteen rupees. (8) Notice under section 63(2) Fifteen rupees. (9) Application under section 64 Fifteen rupees. (10) Inspection of the Register of Firms under Seven rupees sub-section (1) of section 66, for inspection and fifty of one volume of the Register of Firms paise. (11) Inspection of documents relating to a firm Seven rupees under sub-section I(2)D of section 66, and fifty for the inspection of all documents relating paise. to one firm (12) Copies from the Register of Firms under Two rupees. section 67, for each hundred words or part thereof. (13) Price of Forms prescribed under the rules One rupee per Form. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

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Launch of New DGFT Platform

As part of the Digital India program and to ensure Ease of Doing Business, the Directorate General of Foreign Trade (DGFT) has planned to launch a new DGFT platform. The DGFT, vide its trade notification dated 25th June 2020, has announced that the first phase of the DGFT’s new digital platform will Go-Live on 13th July 2020. This upgraded DGFT platform will become accessible through the Existing DGFT website. The primary objective of this initiative is to revamp the DGFT service delivery mechanisms and to promote and facilitate foreign trade. The Gist of DGFT Trade Notification The Directorate General of Foreign Trade (DGFT) has upgraded to a new DGFT platform to simplify business services and make them better for traders. DGFT has notified that the DGFT will be offering services related to the Importer Exporter Code (Digital Delivery of IEC) in the first phase. All other online services will be rolled out after the first phase stabilizes. DGFT also informed that for the go-live of the first phase and the required systems configurations, the IEC applications and modification process would be suspended from 3:00 pm on 10.07.2020 till 13.07.2020. Stakeholders are requested to plan the IEC services. Earlier DGFT – Director General of Foreign Trade Directorate General of Foreign Trade (DGFT), formerly the Chief Controller of Imports and Exports (CCI&E), is India’s official administrating body for imports and exports. It is an attached Department of Ministry and Commerce office in New Delhi. Its zonal offices are in Delhi, Mumbai, Kolkata, and Chennai. DGFT is accountable for implementing the Foreign Trade Policy, with the primary objective of promoting the Nation’s exports Services offered by the New DGFT platform Services Related to Importer Exporter Code – First Phase From 13th July 2020, the trader can access the New DGFT Platform for obtaining the Importer Exporter Code (IEC), IEC Modification, and IEC amendments. Along with the IEC process, a virtual assistant – Chatbot will be available in the new platform to address the trader’s queries. All Other DGFT Services – Next Phase Once the first phase of the new DGFT platform stabilizes, the DGFT will offer the following service to traders in the next phase. Services related to Advance Authorization Services related to the Export Promotion Capital Goods (EPCG) scheme Exports obligation Discharge Procedure to Use the New DGFT platform DGFT User Registration For creating DGFT user ID, the IEC holders’ registered mobile number and Email ID are mandatorily required. The same will be authenticated by the OTP/email-based authentication process. Link Login ID with IEC According to the new DGFT platform design, the DGFT user needs to link the login IDs (DGFT User ID) to their specific Import Export Code. Linking user ID with IEC will be available post login through Digital Signature/Aadhaar-based e-Sign. Digital Signature (DSC)/Aadhaar-based e-Sign Digital Signature (DSC)/Aadhaar-based e-Sign will be required for the following services. IEC Application Modification of IEC Adding or updating the IEC-linked users Note: The trader needs to take necessary actions for procuring/updating the information on the Digital Signature (DSC) or Aadhaar. Apply for the DGFT Services The newly created user profile can be used to engage with DGFT and its services. As mentioned above, users can electronically apply for related Import Export Code, Advance Authorization, and Export Promotion Capital Goods (EPCG) schemes after logging into the portal. Along with the application following services will also be available for the trader. Amendments and Redemption Monitoring the status of the application Raising queries, Replying to the deficiencies All other services related to the Foreign Trade policy Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

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Licensing of Copyright

Copyright law in India is a fascinating and ever-evolving realm of intellectual property protection. The mechanisms of licensing and assignment play crucial roles in transferring and managing these rights, but they require careful consideration and coordination. As a business leader or an intellectual property owner, it is essential to understand their nuances and seek professional legal advice to ensure they are carried out following the law. What is Licensing of Copyright? A license is the transfer of interest in copyright. In a license, the right to use a copyright is given to another party with some restrictions on such usage. A license can grant the right in the copyright of work which is already in existence or copyright in some future work which is yet to come in existence.  A licensee can use the copyrighted work without any claim of infringement or unauthorized use being brought by the owner of the copyright against the licensee. Licensing of copyright refers to the legal agreement between the copyright owner and the licensee that permits the licensee to use the copyrighted work in a specified way for a specific time. In this context, the copyright owner grants the licensee a limited right to use the copyrighted work under the terms of the license agreement in exchange for payment. The license can be absolute or non-exclusive and may include clauses that permit the licensee to make copies of the work or to give out the work to others. A license agreement can extend for a limited time or can be for the duration of copyright protection. What is the Assignment of Copyright? An assignment of copyright is a legal transaction in which the copyright owner transfers all or some of their exclusive rights in the copyrighted work from one party to another. This transfer of ownership is typically done in exchange for payment. The copyright assignment must be in writing and signed by the copyright owner. An assignment of copyright can be transferred to another individual, company, or organization. The assignment agreement sets out the specific terms of the transfer, including the duration of the assignment, the rights being transferred, and any other relevant provisions. It is vital to note that the transfer of copyright is a permanent transfer of ownership, and the copyright owner loses all rights to the work once the transfer is completed. The transferor must also notify the United States Copyright Office of the transfer within three (3) months of the assignment. It is also worth noting that copyright assignments can be complex. Any person considering an assignment of copyright should look for professional legal advice to ensure that the transaction is executed correctly and that all necessary terms are included in the assignment agreement. What is the Applicability of Assignment & Licensing of Copyright? Licensing of works for commercial purposes: Licensing is commonly used by copyright owners to permit others to use their works for commercial purposes, such as publishing books, producing movies, or selling music. The license agreement sets out the terms and situations under which the work may be used, including the period of the license, the territory in which the work may be used, and the royalty that the licensee must pay the copyright owner. Licensing of works for non-commercial purposes: Non-commercial licensing is commonly used to permit others to use copyrighted works for educational, research, or non-profit purposes. The license agreement may be absolute or non-exclusive and include clauses that permit the licensee to make copies of the particular work or issue the work to others. Selling or assigning copyright: Copyright assignment is a permanent transfer of all the exclusive rights in a copyrighted work from one party to one more. The assignment agreement sets out the terms and conditions of the transfer and must be in writing and signed by the copyright owner. Copyright transfer is usually done for consideration (i.e., payment) but can also be done as a gift or for a public benefit. What is the process of Assignment & Licensing of Copyright ? Negotiation: The first step in the licensing or assigning process is negotiation. It involves a discussion between the copyright owner and the prospective licensee or assignee to determine the terms and conditions of the agreement. The negotiation process may involve several rounds of discussion and the exchange of draft agreements. Drafting of the License or Assignment Agreement: Once the rules and requirements of the agreement have been negotiated, the next step is to draft the license or assignment agreement. The contract must be in writing and signed by both the copyright owner and the licensee or assignee. The agreement should include specific provisions related to the rights being granted, the duration of the license or assignment, the territory of use, and the royalty rate. Execution of the License or Assignment Agreement: After the agreement has been drafted, it must be executed by both parties. It involves signing the document and then exchanging copies of the signed agreement. Notification of the Copyright Office: If the agreement involves a transfer or assignment of copyright, the copyright owner must notify the United States Copyright Office of the transfer or assignment. It can be done by submitting a copy of the agreement to the Copyright Office and paying the required fee. The Copyright Act of 1957 The copyright licensing and assignment provisions in India are ruled by the Copyright Act of 1957, which sets out the legal framework for copyright protection in creative works such as literary works, artistic works, sound recordings, and computer software. The Copyright Act of 1957 sets out the exclusive rights of copyright owners in their works and provides for the transfer of these rights through licensing and assignment. The Act also provides for copyright registration, the enforcement of copyright, and civil and criminal penalties for unauthorized use or infringement of copyright. It is vital to point out that the Copyright Act of 1957 has been amended several times to keep pace with evolving technologies and changing needs. The Act also allows harmonizing Indian copyright law with international copyright law by implementing various international treaties and

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NRIs Get Tax Notices to Give Affidavits on India Stay for Some Past Years

NRIs Get Tax Notices to Give Affidavits on India Stay for Some Past Years

NRIs Under Scrutiny: Watch Your Days Spent in India! Attention NRIs! The income tax department is keeping a close eye on your time spent in India. They’re asking some of you to swear on affidavits exactly how many days you were here in certain years, to see if you owe any taxes. Why the fuss? Normally, NRIs don’t pay Indian taxes on their overseas earnings or declare foreign assets. But if you overstay in India (more than 181 days in a year), the same tax rules as residents apply. And the I-T department is going back as far as 2014-15 to check! What’s the catch? Some NRIs who stayed longer than planned during 2020-2021, but kept filing as NRIs, might be in for a surprise. Filing a false affidavit is a serious offense, with penalties under the Income Tax Act and even the Black Money law. What can you do? Be honest: If you overstayed, come clean. It’s better than getting caught later. Gather proof: Passport stamps can help track your days in India, but for other countries, it might be trickier. Keep travel documents handy. Seek professional help: A Chartered Accountant (CA) can guide you through the complexities of residency rules and tax implications. Future examples: Imagine an NRI who stayed in India for 200 days in 2021 but filed as an NRI. They might get an I-T notice asking for an affidavit and proof of their whereabouts. A high-earning NRI spending 150 days in India and earning more than ₹15 lakh from Indian sources might be classified as an RNOR (resident but not ordinary resident). They wouldn’t owe tax on foreign income, but their foreign earnings would be taxable in India. Remember: Honesty is the best policy, especially when it comes to taxes. If you’re unsure about your residency status or tax obligations, consult a CA for expert advice. Disclaimer: This simplified explanation is for informational purposes only and should not be taken as professional tax advice. Please consult a qualified CA for personalized guidance. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

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