May 23, 2024

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish. What is Meant by Intellectual Property Rights? Intellectual property is a legal term for the creations of mind and intellectual property rights are the rights provided by law for the exclusive use of creations of the mind. Examples of intellectual property include music, literature, and other artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Examples of intellectual property rights include trademark, copyright and patent. In this article, we look at intellectual property rights available in India. Intellectual Property rights mean providing property rights through patents, copyrights and trademarks. Holders of intellectual property rights have a monopoly on the usage of property or items for a specified time period. The term intellectual property began to be used in the 19th Century. Only in the 20th century did it become part of the world’s legal systems. What are the 4 types of Intellectual Property? The 4 main types of intellectual property are listed below. Patents – It is used for protecting new inventions, ideas, or processes. Patent holders need to pay periodic government renewal fees. An approved patent is for a limited time period. Know more about Patents Act in India. Copyrights – It protects the ideas, examples would be written works, music, art, etc. Trademarks – It is something that protects the symbols, colors, phrases, sounds, design etc.  Trade Secrets – It may be strategies, systems, formulas, or other confidential information of an organization that provides them a competitive advantage in the market. Intellectual Property Rights Registration Trademark Registration- Trademark is the most common type of intellectual property right with more than 2 lakh trademark registration applications filed in India during the year 2013-14. Trademark registration and trademark protection in India are governed by the Trademark Act, 1999. A trademark is used by an entity on goods or services or other articles of commerce to distinguish it from other similar goods or services originating from a different entity. Names, logo, slogans, word signature, label, device (product shape), numerals or even a combination of colors can be trademarked in India. However, the most popular form of trademark registration is that of a trademark registration for a business name or logo. Once the trademark registration application is filed with the Registrar of Trademarks, the TM symbol can be used next to the logo. Once, the trademark is registered, the R symbol is placed next to the logo for indicating that the mark is a registered. For a mark to be trademarked, it must be: Capable of being represented graphically (that is in the paper form). Capable of distinguishing the goods or services of one entity from those of others. Capable of being used or proposed to be used as a mark in relation to goods or services to indicate a connection between the goods or services and an entity that has the right to use the mark. Copyright Registration- Copyright registrations are handled by the Copyright Office acting under the Indian Copyright Act, 1957. Copyright is a legal right given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings. Unlike trademark and patent, copyright protects the expression and not the idea or creation of mind. Further, copyright registration cannot be obtained for titles or names, short word combinations, slogans, short phrases – as the same can only be trademarked. One of the most popular type of copyright registration in India is copyright registration of website or software. Websites and software’s can be copyrighted as they are both considered to be “literary works” under the Indian Copyright Act, 1957. To copyright a website, many separate applications for copyright registration may have to be filed, as a website could contain many different literary works, artistic works (photographs etc.), sound recordings, video clips, cinematograph films, broadcastings and computer software. For copyright registration of a software, the “Source Code” of the software must be submitted to the Copyright Office along with the application for registration of copyright for software products. Patent Registration- Patent registration in India can be obtained for any invention relating to a product or process that is new, involving inventive step and capable of industrial application. The following items cannot be patented, as they are not considered as inventions under the Patent Act, 1970: An invention which is frivolous or which claims anything obviously contrary to well established natural laws. An invention the primary or intended use or commercial exploitation of which could be contrary to public order or morality or which causes serious prejudice to human, animal or plant life or health or to the environment. The mere discovery of a scientific principle or the formulation of an abstract theory or discovery of any living thing or non-living substance occurring in nature. The mere discovery of a new form of a known substance which does not result in the enhancement of the known efficacy of that substance or the mere discovery of any new property or new use for a known substance or of the mere use of a known process, machine or apparatus unless such known process results in a new product or employs at least one new reactant. Any substance obtained by a mere admixture resulting only in the aggregation of the properties of the components thereof or a process for producing such substance. The mere arrangement or re-arrangement or duplication of known devices each functioning independently of one another in a known way. Any method of agriculture or horticulture. Any process for the medicinal, surgical, curative, prophylactic diagnostic, therapeutic or other treatment of human beings or any process for a similar treatment of animals to render them free of disease or to increase their economic value or that of their products. Plants and animals in whole or any part thereof other than micro­ organisms

An official document that certifies the holder to drive vehicles in India, Learner’s license and Permanent license is mandatory in India for those who wish to drive. A Learner’s license has a validity of six months and allows the holder to drive a private motor vehicle without a gear and of the engine capacity of 50CC. Anyone above the age of 16 can apply for this. It must be noted that the Learner’s License will not be extended beyond six months.  According to the Indian Motor Vehicle Act 1988, no individual can ride a motorcycle on the Indian roads without carrying a valid license. This makes it mandatory for all individuals to apply for a driving license and get one. If a person is beginning to learn driving, then he/she has to apply for a Learner’s License. The Learner’s License is a document issued by the Ministry of Road Transport and Highways, Government of India. One must be familiar with road rules and regulations to get a Learner’s License. A Learner’s license will be issued to the applicant on passing the test. After obtaining the Learner’s License, the candidate will be allowed to practice driving on public roads.  Rajasthan Motor Vehicle Department The Rajasthan Motor Vehicle Department is responsible for issuing permits and licenses to those who clear the tests. Customers can visit the website in order to download forms and apply for the tests or can visit any of the available RTO (Regional Transport Office) centers throughout the state. Types of Learner’s License in India Vehicles Used for Personal Purposes Sl.No License Class Vehicle Type   1 Motorcycles 50 CC    Motorcycles with engine capacity of 50 CC   2 LMV – NT    Light Motor Vehicles used for non-transport purposes   3 FVG Motorcycles of any engines capacity but with no gears like scooters and mopeds 4 MC Ex50CC    Motorcycles with an engine capacity of 50 CC or more, motorcycles with gear and Light Motor Vehicles (LMV) including cars 5 MCWG or M     All types of Motorcycles including a motorcycle with gear   Vehicles Used for Commercial Purposes Sl. No License Class Vehicle Type   1 HGMV Heavy Goods Motor Vehicle   2 LMV – TR    Light Motor Vehicle (LMV) used for commercial purpose   3 HPMV   All India driving permit for truck and car or Heavy Passenger Motor Vehicle   4 LMV – NT    Light Motor Vehicle for non-transport purposes 5 MGV    Medium Goods Vehicle   Eligibility for Learner’s License in India To get the Learner’s License, the applicant must be fluent with traffic rules and regulations. The applicant should have valid address proof and age proof documents. The candidate must 18 years old to get Leaner’s license for motorcycles with gear The leaner’s license for heavy commercial vehicles and transport vehicles, the applicant must have finished 8th standard of schooling and applicant must be at least 18 years old To obtain Leaner’s license for motorcycles without gear with up to 50 cc capacity, the candidate must be aged at least 16 years. Documents Required Proof of Address: Aadhaar Card, Passport, Ration Card or House agreement Proof of Age: Pan card, Birth Certificate, Transfer certificate or 10th Class mark sheet Application Fees for Learner’s License Passport size photographs Medical Certificate – Form 1 which is to be signed by a certified Government doctor Application form Learners Test Learners License acts as a provisional and Restricted License. Online application for New Learners License is once submitted through Parivahan website; the applicant will be required to undergo a computer-based Learner’s test. Learner’s License test will be conducted for 20 marks. The applicant should get 12 marks for passing. The test will analyse the applicant’s knowledge of below-mentioned topics. Road rules and regulations Signal and signs Road Manners Defensive driving Applicants must be familiarized with these topics to get a Learner’s License. Facility for prapload the document and click on confirm cticing the learner’s test is provided in the official website of Ministry of Road Transport and Highways (Parivahan web portal). Learner’s License Application Procedure Access Sarathi Parivahan Portal Step 1: Access the home page of the Ministry of Road Transport and Highways (Parivahan web portal). Click on Apply Online in Sarathi Parivahan home page: Step 2: Select state and transaction as issue new LL and then click on the continue button. Step 3: In the new window, click on the submit button. Provide Applicant details Step 4: Provide details of the applicant such as Name, Gender, Age, Address Date of birth, blood group and Mobile number. Step 5: Select the Cov’s from the left panel and click on the right Arrow mark. Step 6: After submitting the application form the acknowledgement will be generated with the “Application number” for further reference and click on “Print” to get acknowledgement printout, click on “Next” option to go to next step. Upload Document Step 7: Select the radio button Upload Documents to upload the required documents and click on the “Next” button. Step 8: Click on “OK” button to continue for uploading the documents. Step 9: Select the address proof from the list of documents, upload the same and click on “confirm” option. Step 10: In the next stage select the age proof from the list of documents and upload the document and click on the confirm option. Step 11: Select the form 1 from the list of documents for uploading and click on upload and then confirm. Click on NEXT option. Upload Photo and Signature Step 12:  In the next step, click on the photo and Signature option to upload the Photo and signature and click on the “Next” button. Step 13: The below window will appear, read the instructions for the size of photo and signature and click on “Upload and View files.” Step 14: A message will appear once the photo and signature are successfully inserted and click on the next page. Learner’s License Slot Booking Step 15: In this window click on the LL slot booking and click on Next button to select date and time to get an appointment. Step 16: In the LL test appointment click on the green

Property tax is the second-largest source of revenue in Pune. Pimpri Chinchwad Municipal Corporation (PCMC) is a Municipal Corporation in the city of Pimpri-Chinchwad which is the Urban Agglomeration of Pune.It is the Pune Municipal Corporation (PMC) or Pimpri Chinchwad Municipal Corporation (PCMC) [based on the location of property], that assesses a property to give it a value and levy tax on a person’s real or personal property in Pune. PMC is serving its citizens since 1950 and property tax is the second largest revenue to next to Octroi to the PMC. In order to automate the entire property tax assessment process and to boost its revenue, the PMC in September 2016 started carrying out geo-tagging of properties in its jurisdiction along with identifying unauthorised and illegal properties by using Geographic Information System (GIS). The exercise includes verifying existing size of the property, mentioning information of owner of property, clicking photographs of the properties and their documents etc. PMC covers more than 8 lakh properties in its purview. Out of the few properties have been mapped using the GIS technology and is expected to Map all properties soon. This leads to significant increase in the revenue for PMC as it enables identifying defaulters easily. Property tax is applicable to all properties and vacant lands within Municipal corporation limits. Property tax is assessed on the basis of carpet area of the building/property. PMC follows capital value-based system for property tax calculation. What is PMC Property Tax? Property tax must be paid to the Pune Municipal Corporation (PMC) by all the property owners of residential property, industrial property, or even vacant land within the jurisdiction of PMC. The property tax is one of the biggest revenues for Pune through which PMC maintains the infrastructure and other facilities in the city. Legal action will be taken against the taxpayer and penalties will be charged if they fail to pay the property tax within the due date. Formula for Pune property tax computation The property tax is a percentage of the actual value of the property which is based on the ready reckoner that is used to calculate stamp duty by the revenue department. Property tax = Tax rate * Capital Value Capital Value = Base value * built up area * usage * building type * age factor * floor factor PMC allows its users to calculate property tax online by entering locality, area, usage, type, total plinth area and age of the property.Property tax rates of PMC can be accessed at here and property tax rates of PCMC can be accessed here. Due date, penalty and other rewards PMC Due date – For first half year (April 1st to September 30th) due date is 31st May and For second half-year (October 1st to March 31st) due date is 31st December Penalty is charged at 2% per month in case of delay in payment beyond due date i.e., charged from 1st July in case of first half year and from 1st January in case of second-half year If the entire property tax is paid by 31st May, following rebates are available: For residential properties/ non-residential/open plot specifically registered as residential building – 10% discount on general tax in case of annual rateable value up to Rs 25,000 and 5% discount on general tax in case of annual rateable value of Rs 25,001 and above In case of residential properties having solar, vermiculture and rain-water harvesting – 5% discount on municipal tax (excluding water tax and government taxes) in case of one of these projects and 10% discount on municipal tax (excluding water tax and government taxes) in case of two of these projects PCMC 10% concession on general tax if the entire property tax is paid by June 30 Eligibility Criteria A person’s age is above 18 years of age A person who is a permanent resident in the Pune state. Any person who owns a property or land in Pune Municipal Area is entitled to pay a property tax. Procedure for Paying Property Tax – Online Mode Visit the PMC Portal Step 1: The applicant will have to visit the official Pune Municipal Corporation (PMC) portal of Pune to make the property tax payment. Step 2: Then you have click on the ”Online Services” tab that is visible on the menu bar. Step 3: Now you will be directed to the pay tax online page where you have to fill in all the requested details such as: Property Type Section ID Peth ID Account No Step 4: Then you have to fill the Property Owner Details that includes Name, Ward, Address, Previous Owner, Current Owner, and Property Description. Step 5: After filling the property owner details, you will have to fill the Property Dues Details like the amount of payment, verify the applicant’s mobile number and e-mail address. Make Payment Step 6: Now, check the checkbox against the arrear bill for which the payment has to be made. Then have to click on the “Pay Now” button. The money can be redeemed in 3 ways: Full Payment: In total, it is deposited for one whole year. Partially Payment: It will be tested in the cart – Half-an-a-half. Advance Payment: It can be credited to the student in their second language. Step 7: The user will be redirected to the payment gateway, upon which he/she has to choose the desired payment option (debit card, credit card, internet banking). Step 8: The following details to must be filled before making the payment. UBL name Collection date Collection centre Payment mode Bank details Step 9: Then, you need to fill out all the necessary payment details. Step 10: Click on the “Make Payment” button to make the payment online. Print Tax Receipt Step 11: After making payment, a receipt of the same will be generated as an acknowledgement slip for the amount made. You can also download/print the receipt for the future reference. Step 12: You need to click on the “Tax Receipt” option and have to enter the details as requested. Step 13: Then you have to click on the submit button. Step 14: The challan

The Senior Citizens Savings Scheme (SCSS) is primarily for the senior citizens of India. The scheme offers a regular stream of income with the highest safety and tax saving benefits. It is an apt choice of investment for those over 60 years of age.  The Senior Citizens’ Saving Scheme is a retirement benefit program by the Government of India. Individuals over 60 years can opt for the SCSS scheme by investing by making an individual or joint investment. In addition, this scheme provides tax benefits. In SCSS, the installment amount ranges between ₹1,000 and ₹15 lakhs. This amount is constricted to the retirement benefits. One must deposit it in the Senior Citizen Scheme account within a month from receiving retirement benefits from his/her employer. Moreover, if individual deposits more than the given amount, the additional funds get refunded to the account holder. One can extend the scheme for 3 more years from its date of maturity. The Interest Rate is 7.40% per annum (Q2 FY 2022-23). The Tenure is 5 years (with an option to extend it for 3 more years). The Minimum Investment Amount is ₹1,000. The Maximum Investment Amount ₹15,00,000 or the amount received on retirement, whichever is lower. Senior Citizen Savings Scheme (SCSS) SCSS full form is Senior Citizen Savings Scheme. It is a government-sponsored savings instrument for individuals above the age of 60. The Government of India introduced this scheme in 2004, intending to provide senior citizens with a steady and secure source of income for their post-retirement phase. It is one of the most lucrative savings schemes in India and offers comparatively substantial returns to its subscribers. Furthermore, it is a government-backed scheme, and hence, the risk of capital loss is negligible. Individuals can apply for SCSS through post offices as well as public & private banks. Features of the Senior Citizen Savings Scheme Senior Citizen Savings Scheme (SCSS) Particulars Tenure 5 years Interest Rate 8.2% p.a. Minimum Investment Rs 1,000 Maximum Investment Rs 30,00,000 Tax Benefits Available under Section 80C upto Rs.1.5 lakh Premature Closure Available Nomination Facility Available Secure investment- SCSS is a government-backed scheme. Hence, the invested amount is secure and there is guarantee of returns upon its maturity.  Interest payment-Individuals who open an SCSS account get an interest on the principal deposited amount at the rate fixed by the government. They will receive a quarterly interest against their deposited amount. Interest payment will be credited to an individual’s account on the first date of April, July, October, and January. Mode of deposit- An individual can deposit the money in cash when the amount is below Rs.1 lakh. When the deposit amount is above Rs.1 lakh, an individual should make the payment by cheque. Maturity of the scheme -The maturity period of SCSS is 5 years. However, individuals can extend the maturity period for 3 more years by submitting an application. The application for an extension of maturity should be given in the last year. Nominations- Individuals can appoint nominees either while opening an SCSS account or after opening the account. Number of accounts -Individuals can open more than one SCSS account. They may open another account either by themselves or a joint account with their spouse. However, joint accounts can be opened only with the spouse, and the initial depositor is the investor who first deposits in the joint account.  Minimum and maximum deposit amount -The minimum deposit is Rs.1,000 and the maximum is Rs.30 lakh. The deposits can be made in multiples of Rs.1,000. Transfer of an account -An SCSS account can be transferred from a post office to a bank and vice versa.  Premature closure-Individuals can withdraw the amount and close the account at any time on an application in Form-2 subject to the following conditions Closed before one year – interest paid on the deposit in the account shall be recovered from the deposit. Closed before two years – 1.5% of the deposit shall be levied as a penalty Closed after 2 years – 1% of the deposit shall be levied as a penalty Multiple withdrawals from an account shall not be permitted. Calculation of Interest under the Senior Citizen Savings Scheme Interest is compounded quarterly and disbursed every quarter on the first date of April, July, October, and January. The primary components used for its calculation are –  The principal or deposit amount Interest rate Maturity period The maturity period is fixed, while the other two components are variable. The interest rate under which an individual invested is considered for interest calculation. Eligibility for SCSS Individuals above 60 years. Retired civilian employees above 55 years and below 60 years. However, the investment should be made within 1 month of receipt of retirement benefits. Retired defense employees above 50 years and below 60 years. However, the investment should be made within 1 month of receipt of retirement benefits. Non-Resident Indians (NRIs) and Hindu Undivided Families (HUFs) are not eligible to open a SCSS. Benefits of SCSS Here are some of the major benefits of Senior Citizen Savings Scheme- Assured Returns: Since SCSS is a government-backed scheme, it provides guaranteed returns. Tax Benefits: For SCSS, an individual can claim a tax deduction under Section 80C up to Rs 1,50,000 pa. Easy Investment Process: Opening an SCSS account is fairly easy. It can be opened in simple steps at any authorized bank or any post office in India. High Rates of Interest: SCSS offers high-interest rates on the principal sum. SCSS application process You can open an SCSS account either at an authorised bank branch or at a post office branch. If the bank allows, you can open the SCSS account online on the bank’s internet banking portal or mobile banking app. There is no option to open the SCSS account online with the post office.  You can also download the SCSS application form from the India Post website. You need to fill the form and submit it with the authorised post office along with the required documents and pay the deposit to open the account. How to fill