May 22, 2024

Mutation of Land in Bihar – Mutating a property, the new owner gets the ownership of the property registered to their name in the revenue department, and the government of Bihar can charge the property tax from the rightful owner. The change in the name ownership may happen due to the initial owner’s death and the ownership transfer due to inheritance or succession. In the case of the leased property, the ownership gets transferred with unchangeable power of attorney. In this article, we will see the mutation of the land process in Bihar. A mutation must be transferred in all property name transfers, such as buying or restoring assets and the owner’s loss. Therefore, evaluating the tax liability when the owner is changed is vital. E- mutation Bihar helps you to file the petition for land mutation in online mode. What is property mutation? Property mutation is the process of transferring the title of a property from one person to another. In India, mutation is crucial as it helps in updating the land records with the revenue department. This legal procedure ensures that the new owner’s name is reflected in the records, and they become the rightful owner of the property. Documents Required for Mutation Process Mutation in case of sale of a property The following documents are necessary for mutating a property in the village office: Application for mutation with a stamp affixed Registration deeds (Both current and previous) Sale deeds Affidavit on stamp paper of requisite value Receipt of up-to-date property tax payment Ration Card Aadhaar Card  Mutation in case of Will or Inheritance Death certificate Copy of Succession Certificate Affidavit on stamp paper Receipt of up-to-date property tax payment in case of Power of Attorney Copy of Power of Attorney Application for mutation with a stamp affixed Registration deeds (Both current and previous) Sale deeds Affidavit on stamp paper of requisite value Receipt of current property tax payment Ration Card Aadhaar Card Why is applying for property mutation important? To begin with, property mutation is essential for availing various government services such as obtaining building permits, electricity connections, and property tax assessments. However, the first and foremost reason to apply for a mutation is because it helps in preventing disputes related to ownership. Opting for mutation can also be rewarding if you’re thinking of selling the property in the near future. Online Mutation of Land in Bihar Step 1: The applicant can visit the official website of Bihar Bhumi. Step 2: The applicant has to click on the “registration” button to register on the website for the first time or else they can click on the “Login” button. Step 3: Once the applicant has logged in, select the district and circle. Then click on the “Apply New Mutation” option. Step 4: Then, the applicant has to select the “On Application” under the ‘Mutation initiation type‘. Step 5: Now the applicant has to fill all the required details in the form and click on “Save as Draft and Next“. Step 6: On the ‘Upload Document‘ page, upload a scanned PDF file of the ‘Sale Deed‘ and click the ‘Save‘ button. After this, the applicant will receive a ‘receipt‘ which will be saved and also they can take a print of the receipt. offine property mutation process in Bihar? Visit the local municipal office or the revenue department. Fill out the mutation application form with accurate details. Submit the required documents along with the application. Pay the mutation fees as per the prevailing rates. Once verified, the updated land records will be issued in the new owner’s name. FAQs What is the property mutation process in Bihar? Individuals have to either visit the official Govt. website or the land and revenue department office, pay the mutation fee, and submit relevant documents to complete the land mutation process. How long does the property mutation process take in Bihar? Generally, the property mutation certificate is issued within 15-30 days of the land mutation application. 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 | Company Registration in lucknow 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 Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e

The purpose of the Public Provident Fund (PPF), which was first implemented in India in 1968, was to mobilise small contributions for investment and return. It can also be referred to as an investment vehicle that enables one to accumulate retirement funds while reducing yearly taxes. Anyone looking for a safe investment option to save taxes and earn guaranteed returns should open a PPF account. What is PPF? PPF meaning can be simply stated as a long-term investment scheme, popular among individuals who want to earn high but stable returns. Proper safekeeping of the principal amount is the prime target of individuals opening a PPF account. When a PPF scheme is opened, the PPF account is scheduled for the applicant where the money is deposited every month and interest is compounded. Importance of a PPF Account A Public provident fund scheme is ideal for individuals with a low risk appetite. Since this plan is mandated by the government, it is backed up with guaranteed returns to protect the financial needs of the masses in India. Further, invested funds in the PPF account are not market-linked either. Investors can also undertake the public provident fund regime to diversify their financial and investment portfolios. At times of downswing of the business cycle, PPF accounts can provide stable returns on investment annually. Features of a PPF Account The key characteristics of a public provident fund scheme can be listed as follows– Interest Rate of PPF 7.1% per annum Tax Benefit Up to Rs.1.5 lakh under Section 80C Risk Profile Offers guaranteed, risk-free returns Minimum Investment Amount Rs.500 Maximum Investment Amount Rs 1.5 lakh per annum. Tenure 15 years Investment Tenure- A PPF account has a lock-in period of 15 years on investment, before which funds cannot be withdrawn completely. An investor can choose to extend this tenure by 5 years after the PPF lock in period is over if required. Principal Amount- A minimum of Rs. 500 and a maximum of Rs. 1.5 Lakh can be invested in a provident fund scheme annually. This investment can be undertaken on a lump sum or installment basis. However, an individual is eligible for only 12 yearly instalment payments into a PPF account. Investment in a PPF account has to be made every year to ensure that the account remains active. Loan against Investment- Public provident funds provide the benefit of availing loans against the investment amount. However, the loan will only be granted if it is taken at any time from the beginning of 3rd year till the end of the 6th year from the date of activation of the account.The maximum tenure of such loans against PPF is 36 months. Only 25% or less of the total amount available in the account can be claimed for this purpose. Eligibility Criteria- Indian citizens residing in the country are eligible to open a PPF account in his/her name. Minors are also allowed to have a Public provident fund account in their name, provided it is operated by their parents.Non-residential Indians are not permitted to open a new PPF account. However, any existing account in their name remains active till the completion of tenure. These accounts cannot be extended for 5 years – a benefit available to Indian residents. Interest on a PPF Account- The interest payable on public provident fund schemes is determined by the Central Government of India. It aims to provide higher interest than regular accounts maintained by various commercial banks in the country.Interest rates currently payable on such accounts stand at 7.1%, and are subject to quarterly updates at the discretion of the government. How to Open a PPF Account? Both offline and online procedures are available for an individual provided he/she meets requisite parameters mentioned in the eligibility criteria. Activating PPF online can be done by visiting the portal of a chosen bank or post office. The following documents have to be produced at the time of activation of a public provident fund account – KYC documents verifying the identity of an individual, such as Aadhaar, Voter ID, Driver’s License, etc PAN card Residential address proof Form for nominee declaration Passport sized photograph PPF – Tax Benefits Income tax exemptions are applicable on the principal amount invested in a PPF as an account. The entire value of investment can be claimed for tax waiver under section 80C of the Income Tax Act of 1961. However, it should be kept in mind that the total principal that can be invested in one financial year cannot exceed Rs. 1.5 Lakh. The total interest accrued on PPF investment is also exempt from any tax calculations. Therefore, the entire amount redeemed from a PPF account upon completion of maturity is not subject to taxation. This policy makes the public provident fund scheme attractive to many investors in India. Withdrawal There are multiple clauses that an individual must adhere to in case he/she wants to withdraw funds from the PPF account. Mandatory lock-in of 15 years is imposed on the principal amount invested in such plans. In case of emergencies related to specific end-uses, partial withdrawal can be made. However, this amount can only be extracted after the completion of 5 years of activation of the account. Up to 50% of the total balance can be withdrawn in one transaction each financial year succeeding in the 4th year. Investors should note that funds invested in a PPF account cannot be liquidated before the completion of the maturity period. Individuals looking for long-term risk-free investment options providing stable yields can easily opt for this government-backed instrument. What is Form C Section 1  It is a declaration section in which you must submit your PPF account number as well as the amount of money you wish to withdraw. Along with that, you must state how many years have passed since the account was first opened. Section 2  It is about office use and includes information such as: The date on which the PPF account was opened. The total balance in the PPF account. The date when the previously requested withdrawal was granted. The total amount of withdrawals available in the account. The amount of money that has been authorised for

PM Kusum Solar Subsidy Yojana 2024: Under the PM Kusum Solar Subsidy Scheme, 90% grant is being given by the Central Government for the installation of solar irrigation pumps. Under this scheme, a target has been set to provide benefits to more than 35 lakh farmers and let us tell you that the process of application under the scheme has started. Now farmer brothers do not need to use fuel or electricity run irrigation pumps because the benefits of solar pumps can be availed by applying under the Kusum Solar Subsidy Scheme of the government. This will also save you from fuel and electricity bills. What is PM Kusum Solar Subsidy Scheme? Pm Kusum Solar Subsidy Yojana is an important scheme launched by the Central Government for all the farmer brothers. In which farmer brothers can apply to install solar pumps in their fields. On this solar pump, the central government gives 90% subsidy to the farmers and only 10% of the cost has to be borne by the farmers themselves. This subsidy amount is given for solar pumps ranging from 2 horse power to 5 horse power. Let us tell you that the government has set a target to benefit more than 35 lakh farmers under this scheme. In its first phase, the government is going to modernize 17.5 lakh diesel and petrol-run pumps and convert them into solar pumps. That is, the farmers who are still using irrigation pumps running on petrol and diesel will now be able to run their pumps with the help of solar energy. This will relieve them of the cost of fuel and electricity bills and they will get the benefit of free electricity. If you are interested in taking advantage of this scheme, then let us tell you that you need to apply for it as soon as possible. What is the objective of PM Kusum Solar Subsidy Yojana? Pradhan Mantri Kusum Solar Subsidy Scheme is an ambitious scheme which aims not only to provide proper irrigation system to the farmers but also to check the increasing consumption of fuel. Let us tell you that in dry areas, farmers have to face great difficulty in irrigating their crops. Nowadays, diesel pumps have become so expensive that it is not easy for every farmer to buy it and bear the cost of fuel. Keeping this problem in mind, the Central Government has started Kusum Solar Subsidy Scheme so that farmers can get free electricity and with that electricity they can increase their income by irrigating the crops. What are the components of PM Kusum Solar Subsidy Yojana? Solar Pump Distribution: In the first phase of the scheme, the government will successfully distribute solar energy pumps to the beneficiaries in which the Central Government and the Electricity Department will play an important role. Construction of solar power plant: To produce sufficient amount of electricity, the government will also establish a solar power plant. Tubewell Connection: Tubewell connection will also be provided to produce a certain amount of power. Modernization: Let us tell you that under this scheme, old fuel-powered pumps will be converted into new solar pumps. Benefits of PM Kusum Solar Subsidy Scheme Those farmers who want to install solar pumps in their fields can get irrigation pumps at special prices under this scheme. This scheme benefits all the farmers of the country. Let us tell you that under PM Kusum Solar Subsidy Yojana, farmers are given subsidy of up to 90% on irrigation pumps and farmers are responsible for only 10% of the cost. In the first phase of this scheme, 17.5 lakh diesel-operated irrigation pumps will be run by solar energy. This will save fuel and lead to sustainable development of solar energy. Apart from this, megawatt electricity can also be produced through this scheme. Farmers will not have to worry about rising diesel prices and irrigation work will be carried out smoothly. Subsidy for Farmers Central Government 60% of the total cost as Subsidy Banks 30% of total cost as Loans to Farmers Farmers 10% of the total Cost What documents will be required for PM Kusum Solar Subsidy Yojana? Aadhar card Address proof bank passbook Land Related Documents mobile number Ration card copy of registration Authorization letter etc. Farmers eligible for PM Kusum Solar Subsidy Yojana group of farmers Co-operative Societies Water Consumers’ Organisation Farmer Producer Organisation All the farmers in the country Kusum Yojana Online Application Procedure Access the Portal Step 1: First, the farmers have to visit the official website of Kusum Yojana. Login to Portal Step 2: Now, you can log in with the reference number on the homepage of the portal. Step 3: After you have logged in to the portal, you can fill out the online application form to take the Kusum solar pump. Apply for the Scheme  Step 4: The farmer has to click on the “Apply” button that is visible on the home page. Registration Form Step 5: Upon clicking on the apply button, the farmer will be taken to the registration page. Step 6: The application form for the Kusum Yojana will be displayed  Fill in the Right Credentials Step 7: Now you need to enter all the requested details in the application form. Step 8: Enter the details such as farmers name, mobile number, e-mail address and the other information. Submit the Application Form Step 9: After completing all the details, the farmer must click on the submit button to complete the registration process. Acknowledgement Number Step 10: On submitting the application form, the farmer will receive the message stating “Successfully Registered”. FAQs What is PM-KUSUM Yojana? PM-KUSUM Yojana aims to provide financial and technical assistance to farmers for setting up solar power projects and solar water pumps, thereby reducing their dependence on diesel and grid power. It is divided into three main components: Component A: Installation of 10,000 MW of decentralized ground-mounted grid-connected renewable power plants. Component B: Installation of 20 lakh standalone solar-powered agricultural pumps. Component C: Solarization of existing grid-connected agricultural pumps, allowing farmers to generate solar power for their needs and sell surplus to