June 26, 2024

LLP Fillip Form

LLP Fillip FormLLP Fillip Form

FiLLiP (Form for Incorporation of Limited Liability Partnership) is an online application form that simplifies the incorporation process for LLPs under the LLP Act 2008. It combines name reservation and incorporation into a single form, enabling electronic document submission. FiLLiP also streamlines obtaining the Designated Partner Identification Number (DPIN) and Digital Signature Certificate (DSC) for the proposed LLP partners. Limited Liability Partnership (LLP) Limited Liability Partnership (LLP) is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. Since LLP contains elements of both ‘a corporate structure’ as well as a partnership firm structure’ LLP is called a hybrid between a company and a partnership. Low registration fees and easy maintenance make LLP a first choice for many of the small businesses in India. Limited Liability Partnership (Second Amendment) Rules, 2022 Limited Liability Partnership (Second Amendment) Rules, 2022 was declared on the 04th March 2022 and came into effect from the 1st April 2022. There are a few more important changes that have been made through LLP (Second Amendment) Rule, 2022, which are as follows: There can be 5 designated partners (without having DIN) at the time of Incorporation. (Earlier 2 was allowed) PAN & TAN will be allotted along with Certificate of Incorporation or Registration LLP incorporation has become web-based like the SPICE+. Form 8 (Statement of Solvency and Annual Return) will also include disclosures concerning Contingent Liability All LLP forms will be web-based including LLP Form -9  – Consent of Partners. Resultantly, all Designated Partners Digital Signatures will be required. Why Register LLP Under MCA? LLP is a separate legal entity from the partners. Every partner would sue the other for the condition which evolves. It has an uninterrupted existence that follows perpetual succession that is the partners may leave, however, the business stays. The term of the dissolution needs to be mutually agreed towards the company to dissolve Transferring the ownership of LLP is indeed easier. An individual would quickly be shown in as a designated partner and the ownership transferred to them LLPs that pose a capital amount of lower than 25 lakhs along with a turnover of less than 40 lakhs per year would not need any formal audits. The same build the registering as LLP advantageous towards the small businesses and startups An LLP has partners, who own and handle the business. The same varies from a private limited company whose directors might be different from shareholders. For this cause, VCs would not invest in the LLP framework LLP would own or take upon the property this is because it is considered as a juristic individual. The partners of LLP would not avail the property as theirs Steps to Incorporate LLP Name reservation:  The first step to incorporate a Limited liability partnership (LLP) is a reservation of the name of LLP. The applicant has to file eForm 1, for ascertaining availability and reservation of the name of an LLP business. Incorporate LLP: After reserving a name, the user has to file FiLLiP for incorporating a new Limited Liability Partnership (LLP). FiLLiP contains the details of LLP proposed to be incorporated, partners’/ designated partners’ details, and consent of the partners/ designated partners to act as partners/ designated partners. LLP Agreement: Execution of LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP. Format of a FiLLiP Name Reservation Section: In case LLP name is already approved through RUN-LLP webform, the user is required to mention the SRN of such approved form and validate the same with required details. Alternatively, you can also mention the proposed name in this section. Incorporation Details: This section is mandatory in case the LLP is already registered and the form is for conversion of LLP into another business entity. Details of business activity carried out by LLP on incorporation: It is especially required if the name reservation is also carried out through the FiLLiP. You need to provide details like the main industry or sector in which an LLP operates classified by a 5-digit NIC Code, a detailed description of the main division of industrial activity selected, etc. Particulars of Proposed Partners: The total no. of designated Partners (DPs) and Partners with or without DIN and their particulars like identity and address proofs. Total monetary value of contribution by partners in the LLP: Information regarding total contribution by all Partners/DPs i.e., the sum of contributions by all designated partners/partners. Attachments: This is where you provide relevant attachments like copy of regulatory approvals, Consent of the Partners (Form 9) and identity and address proofs. Filling FiLLip Form Under MCA for Online Registering an LLP Step 1: Login at MCA V3 portal with user name and password using this link Step 2: Select form “FiLLip Incorporation of LLP” from the list as shown below: Step 3: Fill the form and proceed to Form 9 (Consent to Act as Designated Partner) Step 4: Proceed to Form 17 (optional); Proceed to Form 18 (optional) Step 5: SRN will be generated on successful submission of the form. Step 6: Download the form and affix DSC. Easy Uploading the MCA Form on Govt Portal The last process is to upload the FiLLIp on the MCA portal. After successful generation of SRN on submission of form, an option to upload such form should be reflected on My Application in “Pending for Action” Tab. Users can click on the upload form and upload the DSC affixed PDF and proceed for payment. Please ensure that the form post affixing all the Digital Signatures is less than 6 MB.After successful generation of SRN on submission of form, an option to upload such form should be reflected on My Application in “Pending for Action” Tab. Users can click on the upload form and upload the DSC affixed PDF and proceed for payment. Save SRN Number & Execute Payment Once the form needs to submit, you would be automatically redirected to make the payment. Once

LLP Fillip Form Read More »

Is fantasy cricket apps legal in India

Is fantasy cricket apps legal in India

Indian Fantasy Cricket has taken the country by storm in less than a decade, with millions of people using various fantasy cricket sites in India to play fantasy cricket. There are around 40 apps or websites that cater to this service, with almost every other app following a similar route. Interestingly, there are official fantasy cricket games for IPL and ICC as well along with the private fantasy cricket sites in India, such as Gamezy. Fantasy Cricket in India In a nation where cricket is more of a religion than a sport, it is only natural to expect the sport to have millions of fans. As a result, fantasy cricket have flourished extremely well in India. If you ask how this concept has done so well in India, the answer would be simple – Indian people do not love anything as passionately as cricket. You must have noticed how there is a cricket pundit in every household who knows even the smallest stat or detail about a player. These Indian Fantasy leagues have tapped into such people’s hearts and helped them earn money by using their knowledge. All these small scale pundits prove to be the eventual winners of different fantasy cricket leagues. What is a skill-based game? Before we dig deeper into the fact-finding journey whether or not fantasy sports is legal in India, it is essential to understand what’s a skill-based game. All kinds of games that require an understanding of the game, analysis, thinking, and talent to win the game can be termed as skill-based games. Fantasy cricket gaming requires understanding of the game, selection of teams, player performances analysis, external factors research and much more. Is Playing Fantasy Cricket Legal in India? “Why fantasy cricket is legal in India?” is one question that pops up in almost everyone’s mind when India as a country is completely against betting, with it not even being legal. This is where you need to understand that betting on a sport is totally different from playing Fantasy cricket. In fantasy cricket, you are basically using your knowledge to predict the performances of real-life players and earn money through the right predictions. In fact, the High Court Ruling came in favour of such fantasy cricket leagues in India as they stated how it is the skillset and knowledge of a person that is winning him the prizes. Also, since they cannot change the players they choose once the match starts, it is not betting in any way. Therefore, all such apps or websites are exempted from the provisions of the Public Gambling Act, 1867 (PGA).. As per Article 19(1)(g) of the Indian Constitution, a game of skill where players must use their expertise, talent, knowledge, and strategies to analyse, think, and develop techniques to win is a legal activity.Winning is possible through judgement and analysis, and not just luck. As a result, fantasy cricket comes under the ambit of a game of skill where players need to use their expertise and knowledge of sports to create fantasy teams.In February 2020, the Rajasthan High Court mentioned that Dream11 is a game of skill and does not involve offences of betting and gambling while dismissing the public interest litigation (PIL) against it. A challenge to this verdict was dismissed by the Supreme Court of India as well.In August 2021, the Supreme Court said that fantasy sports have considerable skill and judgement and is, therefore, legal. The success of fantasy games depends on the user’s knowledge, attention, and execution. As a result, success in fantasy cricket is not dependent on probability.Therefore, Dream11 is legitimate business in India and does not fall under the Public Gambling Act, 1867. According to the Federation of Indian Fantasy Sports (FIFS) – the country’s first and only self-regulatory Sports Gaming industry body, games of skill are excluded from the definition of most gambling legislations and therefore are legal to play. Legal Status of Fantasy Cricket Apps Games of Skill vs. Games of Chance The Indian judiciary has consistently held that games requiring a substantial degree of skill fall outside the purview of gambling and are considered legal. Fantasy cricket platforms argue that their games involve skill as participants need to analyze players’ performance, pitch conditions, team composition, and make strategic decisions while creating their teams. In landmark judgments, such as the 1968 R.M.D. Chamarbaugwala case and the 1996 State of Andhra Pradesh v. K. Satyanarayana case, the Supreme Court of India recognized the distinction between games of skill and games of chance. The Court held that games involving a predominant element of skill are not gambling and do not violate the Public Gambling Act, 1867. The Legality of Fantasy Cricket Apps in India “Is it allowed in India to use fantasy cricket apps?” is one question that practically everyone has since India as a country is entirely not in favour of betting, with it even being illegal. This is where you must understand that betting on a sport is not the same as playing Fantasy cricket. In fantasy cricket, you basically use your knowledge to forecast the performances of real-life players and earn money if your predictions are correct. To understand the legality of fantasy cricket apps, it is essential to examine the legal framework governing online gaming and gambling in the country. In India, laws pertaining to gambling are primarily governed by the Public Gambling Act, 1867. The Act prohibits the operation of gambling houses and the facilitation of gambling activities in physical spaces. However, the Act does not explicitly address online gambling or fantasy sports. CASE In 2017, the Hon’ble Supreme Court of India rendered a landmark judgment in the case of K.R. Lakshmanan v. State of Tamil Nadu, stating that games involving substantial skills are not considered gambling and are protected under the Constitution of India. The court further clarified that games involving a substantial degree of skill fall outside the ambit of gambling legislation. This judgment laid the foundation for the legality of fantasy sports in India, including fantasy cricket.

Is fantasy cricket apps legal in India Read More »

electrical inspectorate department eid rajasthan

The Electrical Inspectorate Department (EID) in Rajasthan is a governmental body responsible for overseeing and regulating electrical installations, safety standards, and compliance within the state Regulatory Authority The EID operates under the authority of the Rajasthan Electricity Act, which empowers it to regulate electrical systems, installations, and safety measures across the state. Functions and Responsibilities Inspections: Conducting regular inspections of electrical installations to ensure they comply with safety standards and regulations. Approval and Certification: Providing approvals and certifications for electrical designs, installations, and equipment. Enforcement of Regulations: Enforcing laws and regulations related to electricity generation, transmission, and distribution to ensure safety and reliability. Investigations: Investigating accidents, faults, or non-compliance issues related to electrical systems. Public Awareness: Educating the public and stakeholders about electrical safety practices and regulations. Safety Standards Setting and maintaining standards for the design, installation, and operation of electrical systems to prevent hazards such as fires, electrical shocks, and equipment failures. Licensing and Permits Issuing licenses and permits for electrical contractors and professionals who perform electrical work in the state. Coordination Collaborating with other government agencies, utilities, and stakeholders to improve electrical safety and reliability across Rajasthan. Training and Development Providing training programs and workshops for electrical professionals to enhance their skills and knowledge about current regulations and safety practices. FAQs Who needs to comply with EID regulations in Rajasthan? Any entity or individual involved in electrical installations, maintenance, or operation within Rajasthan must comply with EID regulations. This includes electrical contractors, engineers, architects, and building owners. How does the EID ensure electrical safety? Inspections: Regular inspections of installations to verify compliance with safety standards. Education and Awareness: Conducting awareness programs and training sessions to promote safe electrical practices. Enforcement: Taking legal action against violations of electrical safety regulations to deter non-compliance.

electrical inspectorate department eid rajasthan Read More »

Myntra Registration

Myntra Registration

Physical businesses are progressively modifying their traditional marketing approaches and embracing online strategies. This is in response to rapid improvements in the internet marketplace. Due to its massive customer base, businesses want to know how to sell on Myntra to benefit from reasons that make the eCommerce platform a huge success. Myntra provides excellent possibilities for business advancement through online selling and marketing. However, this isn’t the only reason Myntra is India’s most popular online store. Let’s dive deeper into selling through Myntra’s much-loved eCommerce platform. Myntra is India’s one of the biggest fashion and casual lifestyle products ecommerce company which have headquartered in Bangalore, Karnataka. its open as ecommerce marketplace also so today we learn about How to Sell on Myntra as become a seller and sell your fashion and causal lifestyle products on Myntra. Myntra was founded in 2007 by  Indian Institutes of Technology graduates with a focus on personalisation of gift items. By 2010, Myntra shifted its focus to the online retailing of branded apparel. In May 2014, Myntra.com merged with Flipkart to compete against Amazon which entered the Indian market in June 2013 Why sell on Myntra? Benefits sellers on Myntra get Myntra has a massive customer base of over 40 million users, servicing more than 17000 pin codes, and your brand can get exposure to the same. You will have full control over your merchandise – handling orders, cataloging, product quality, etc. Myntra supports its sellers with fulfillment models, cataloging, and supply chain management. You do not have to dedicate the time, effort, and resources to set up and run an online storefront. Leverage Myntra’s user-friendly interface to market and sell your products more effectively. You also don’t have to set up a payment gateway. Myntra will process payments through its payments partner. Through Myntra’s Partner Insights, you can get real-time data insights and tools for strategic selling. Myntra provides great customer service, including quick and easy returns, exchanges, and refunds. You too can provide an enhanced customer experience when you sell via Myntra. You don’t have to worry about shipping and delivery, saving a ton of logistics costs. Who can sell on Myntra? Eligibility criteria Partnership Firms Private Limited Companies Sole Proprietorship Firms Limited Liability Partnerships What can you sell on Myntra? Clothing Jewelry Accessories Home décor Beauty and personal and more How to sell on Myntra Go to Myntra’s partner info page. Click on the ‘Register Now’ button on the menu bar. You will be directed to an application form. Enter your mobile number and verify it. Enter your email address and verify it using the OTP sent to this ID. Set a password. Press the ‘Submit’ button. Then, use these details to log in to your Myntra seller account. Now, fill in the required details to complete the process. Documents required for Myntra seller registration GSTIN Warehouse details (address, contact number, etc.) Current bank account details, including a copy of a canceled cheque for verification with your registered business name printed on it Brand details Trade Mark Certificate, in case of brand owners or manufacturers No Objection Certificate, in case of distributors, resellers, importers of a brand FAQs How do I register on Myntra as a seller? To start with, just fill up our registration form by clicking the “Register Now!” button above.  We will review your proposal and revert with the next steps. How does selling on Myntra work? We work on multiple business models with our brand partners. The business model choice depends on multiple parameters such as your location, product selection and categories. Please fill up the registration form, the post which we will get in touch with you to discuss the most suitable operating model.

Myntra Registration Read More »

Uttar Pradesh Old Age Pension Scheme

uttar pradesh old age pension scheme

The Uttar Pradesh (UP) Pension Scheme refers to various social security initiatives launched by the Social Welfare Department, Government of Uttar Pradesh, to provide financial assistance to the elderly, widows, persons with disabilities, and other vulnerable sections of society. The Government of Uttar Pradesh has introduced an old age pension scheme for the benefits of the senior citizens in the state. Under this scheme, the eligible senior citizens will be provided with financial assistance in the form of monthly pension. The key features of the Uttar Pradesh old age pension scheme are as follows: Under this scheme, the government will offer an additional amount of Rs.50 as compared with an earlier scheme such that the beneficiaries can claim for Rs.800 monthly.   The government will allow only the senior citizens from the economically weaker sections to avail the benefits under this scheme. Under this Uttar Pradesh old age pension scheme, the Government will transfer the pension amount to the beneficiaries through their bank account. Features The government will allow only the senior citizens from the economically weaker sections to avail the benefits under this scheme. Under this Uttar Pradesh old age pension scheme, the Government will transfer the pension amount to the beneficiaries through their bank account Benefits Monthly pension Rs. 1000/-. Eligibility Criteria To avail the benefits under this scheme, the applicant must be the resident of the Uttar Pradesh. The applicant whose age is 60 years and above is eligible for the scheme. The applicant must have his or her name registered with the BPL list. The applicant should be from the economically weaker section of the society and backward class of the society. Exclusions Not eligible if the applicant is benefited from other pension schemes. Application Process Visit Official Portal Step 1: The applicant has to visit the integrated pension portal of the Uttar Pradesh Government. Old Pension Step 2: Click on “Old Pension” which is present on the homepage of the portal. Apply Online Step 3: On the same page, click on “Apply Online” tab to apply for the scheme. New Entry Form Step 4: Select the “New Entry Form” link and start filling the application form with the required details. Upload Documents Step 5: After filling the form with the necessary details, attach the scanned documents along with the application. Save your Application Step 6: Click on “Save” button to save your details successfully. Acknowledgement Slip Step 7: The registration acknowledgement slip with Registration number is generated for further reference. Final Submit Step 8: Once the registration form is saved it will be edited or updated for any correction unless the applicant clicks on the “Final Submit” button. Forward the Application Step 9: Upon “Final submit” the application form will be forwarded to the DSWO. Submit your Application Step 10: Only after Final Submit of application, the applicant can take the printout of Final submitted page along with supporting documents and submit it to the DSWO/DPO/DHWO office within one month from the date of final submission of application form. After submission applicant will receive the computer generated acknowledgement receipt from respective office. Documents Required Copy of domicile certificate of the applicant. Copy of birth certificate, school leaving certificate, house agreement or other relevant documents of the applicant. Copy of the caste certificate granted by the authorised authority. Copy of the driving license of the applicant. Copy of the income certificate of the applicant. Copy of bank passbook details of the applicant. FAQs What is UP Old age pension Scheme ? The Government of Uttar Pradesh has introduced an old-age pension scheme for the benefit of the senior citizens in the state. Under this scheme, eligible senior citizens will be provided with financial assistance in the form of a monthly pension. What is the process to apply online ? 1. Applicants need to visit the official website. 2. Select the option “Old Age Pension”. 3. Now choose “Apply Online”. 4. Now applicants need to fill out the form and provide the required information. 5. Upload required documents (Photograph and Age certificate). 6. And Submit.

Uttar Pradesh Old Age Pension Scheme Read More »

Rajasthan Indira Gandhi Urban Employment Guarantee Scheme

Rajasthan Indira Gandhi Urban Employment Guarantee Scheme

The Rajasthan government has started an ambitious initiative to give 100 days of employment to poor families in urban areas, similar to the MGNREGA rural job guarantee scheme. More than 2.25 lakh households have already enrolled for the Indira Gandhi Urban Employment Scheme, which was announced in the state budget this year by chief minister Ashok Gehlot. The initiative, which will be inaugurated on September 9, will encompass environmental preservation, water and historical conservation, garden upkeep, removal of encroachments, unlawful sign boards, hoardings, banners, and other items Key takeaways According to the Chief Minister, creative steps have been made to execute the ‘Indira Gandhi Urban Employment Guarantee Scheme’ in the state along with the ‘Mahatma Gandhi National Rural Employment Guarantee Scheme.’ So far, over 1.5 lakh individuals have registered for the scheme. Under the Chief Minister’s budget announcement for the fiscal year 2022-23, the ‘Indira Gandhi Urban Employment Guarantee Scheme’ is being implemented along the lines of MNREGA to provide financial assistance to families living within the urban bodies of the state’s urban areas, particularly economically weaker, helpless, and unemployed families. The goal of this plan is to safeguard the safety of urban families by providing them with 100 days of guaranteed work every year. This initiative would also assist urban households in earning a living. It is the country’s largest urban job guarantee initiative. An annual budget of Rs 800 crore has been set out for the project. Members between 18 and 60 residing in the local body area would be registered under the initiative using their Jan Aadhaar card. The applicant’s ward or zone will be supplied with employment. India’s most extensive program to provide jobs for residents of urban areas Rajasthan will launch an urban employment guarantee plan on September 9 with a budgeted allocation of Rs 800 crore in 2022-23. More than 2.2 lakh households have enrolled under the initiative, which is meant to employ the poor and needy, including those afflicted by the epidemic. In his budget statement earlier this year, Chief Minister Ashok Gehlot announced the beginning of the initiative, named after former Prime Minister Indira Gandhi. The initiative would give 100 days of employment to urban households, similar to the Mahatma Gandhi National Rural Employment Guarantee Act. Eligibility for Urban Employment Program This would be the nation’s most extensive program to provide jobs for those living in cities, according to official sources who spoke here on Monday. All family members of a job card holder between 18 and 60 are eligible to find employment through the program. For efficient implementation, the State government has formed committees at various levels. The program will create jobs in historical preservation, eliminating property vandalism, cleanliness and sanitation, protecting the environment and water resources, and service-related labour. The qualified individuals will work on a tree plantation, cleaning ponds, gathering trash, and capturing stray animals. The ratio between the material cost and the wage for general labour jobs will be 25 to 75. For specialised works requiring technical skill, this will differ. The Department of Local Bodies of the State Government will be in charge of carrying out the plan. The committees at the state, district, or local body level will authorize and carry out the work permitted under the program. The state government will reward the local bodies participating in the program that does an outstanding job. Why UEGs (Urban Employment Guarantee Scheme) are Needed Previous Plans Urban employment programs in India have a long history, including the 1997-launched Swarna Jayanti Shahari Rozgar Yojana (SJSRY). Through self-employment and paid employment, it gave the jobless and underemployed urban poor access to employment. In 2013, the National Urban Livelihoods Mission took the role of the SJSRY (NULM). However, none of them offered “job guarantees.” UEG requirements The mounting anguish of the urban poor, which has mainly gone neglected for a long time – Covid merely made it worse — necessitates a program offering a guarantee. The majority of unemployment statistics Including that the government’s own Periodic Labour Force Survey and the Centre for Monitoring Indian Economy indicate that jobless rates are often more excellent in metropolitan regions. Add to that the reality that the urban poor in India are the ones most impacted by the country’s chronically high inflation, as this Crisil investigation showed. Structural problems Low-wage, low-quality, informal labour is still widely prevalent in Indian towns and cities. According to PLFS statistics, little over 50% of the urban population is still self-employed or working for casual pay, even though regular paid employment is becoming more common. Emphasis on the rural sector Making problems worse is the fact that rural unemployment and poverty are prioritised in the majority of government assistance programs, whether they come from the Union government or state governments. MGNREGA’s existence is an excellent example. Prime Minister Garib Kalyan Rojgar Abhiyaan is another illustration. UEG (Urban Employment Guarantee Scheme) Funding The majority of the state-level UEGs are supported by meagre Budgetary allotments. However, a national UEG would need a significant Budget commitment. A UEG program that covers an estimated 20 million urban casual employees for 100 days at a salary rate of Rs 300 per day would cost the union government roughly Rs 1 lakh crore, according to a figure made by academics at APU and published in The Indian Forum. The number of individuals covered and the guaranteed pay would determine the actual Budget outlay. FAQs What is the Indira Gandhi Urban Employment Guarantee Scheme? The Indira Gandhi Urban Employment Guarantee Scheme is a government initiative in Rajasthan aimed at providing guaranteed employment to urban residents, similar to the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for rural areas. What is the objective of the scheme? The primary objective of the scheme is to provide a safety net for urban residents by guaranteeing a minimum number of workdays and thus supporting livelihoods. It aims to enhance the quality of life by providing employment opportunities and improving urban infrastructure.

Rajasthan Indira Gandhi Urban Employment Guarantee Scheme Read More »

West Bengal Land Valuation

west bengal land valuation

Property valuation certificate is a legal document which certifies the details of the entry in the Register of Land Values. Property valuation helps to determine the fair market value of a property at the time of property sale or purchase. The value of the property estimated varies from state to state. West Bengal land valuation: How is the stamp duty calculated? The land buyers must pay stamp duty to the government during its registration on this minimum’ guidance value’, even if they have bought it below this value. However, if the purchase price is higher than the market value of land in West Bengal, the buyer will have to pay stamp duty on the purchase price and not on ‘market value,’ i.e., the higher amount between the two.  Need for Property Valuation Certificate Property valuation certificate includes the property information like property size of the land and building, Property value, details on the construction. Property valuation Certificate is also used as collateral for the educational loan from the Bank. Property Valuation certificate is required for purposes of income and wealth tax For submitting annual returns in the Income Tax department. Determinants of land market value Availability- Land availability in a developing community is frequently more than in a well-established neighbourhood, primarily because there are many undeveloped lands. West Bengal land valuation at such places suffers badly for this. Unused land for an extended period may result in a drop in demand for the location in the future. As a result, one should look into the land’s absorption rate. Future connectivity- Although assets in emerging real estate markets lack robust transportation connectivity and property accessibility, one should investigate the potential for future connectivity nodes in the area. This will aid in the escalation of future value. A proposed highway, railway station, or metro project may increase land market value in future connectivity. Proposed land use- Lands intended to be used for different purposes are valued differently during the computation of market value. Land may be bought for residential or industrial purposes or a cinema hall. Market value will be different for all these cases. Encumbrance- Land may be considered ‘encumbered’ if an existing tenant refuses to vacate the land before the intended sale by the owner.  Litigation- A landed property subject to an existing lawsuit pending in the court of law is ‘litigated’ and valued accordingly.  Bargadar- Agricultural land will be valued differently if a registered Bargadar tills the land. You might ask a question here – Who is a Bargadar? According to the West Bengal Land Reform Acts of 1955, a Bargadar cultivates land on behalf of the owner of that respective patch of land.  In case the buyer is a tenant- This factor has long bugged West Bengal land valuation. A land with an already occupying tenant on it may sound a dubious choice to a new buyer. But when an existing tenant, who has caused an encumbrance towards the clear, marketable title of the land, intends to buy the same himself, the market value of the land will be affected by this factor. Approach road width- The width of the approach road to the piece of land matters for its easy vehicular activity- 20 feet or 40 feet wide approach road means clear accessibility of the plot even by trucks, one way or both ways. Proximity to the metal road- The proximity of an adjacent metal road increases the market value of a piece of land. Nature of land (as recorded in ROR)- This may be construed as ‘category’ or ‘character’ of the land. ROR stands for the record of rights or a chronological registration of previous owners of the land and its history. If maintained meticulously, you can determine if a prior water body has been filled and converted to be sold as regular land.  Local body of jurisdiction- Land in the suburban area managed by a municipality, a village land in a Gram Panchayat area will have a lesser land market value than one operated by a Municipal Corporation in the city/town area. Applicable Fee The applicant does not need to remit an application fee for applying for a property valuation certificate in West Bengal. Documents Required The specified documents are to be furnished at the time of calculating property. Aadhaar Card Proof of Land Tax Copy of Encumbrance certificate. Proof of ownership of property. Voters ID Online Application Procedure for Property Valuation Step 1: Please visit the official website of West Bengal Government. Calculate Market Value of Land Step 2: Select “Market Value of Land” tab which is displayed on the home screen of the portal. Step 3: On the next screen, the market value of the land page will open up. Step 4: The applicant has to enter the details which are mandatory. Step 5:  Choose your district, Thana, local body and the name of the local body. Step 6: To get the owner details of the property, you have to enter the plot number and Khatian number. Step 7: Now, provide the details of your property like the type of your property, use of property, Area of Land and click on “Display Market Value” button. Step 8: Finally your market value of land will be calculated and displayed on the screen. FAQs What is the definition of stamp duty? Under the rules of the Indian Stamp Act, 1899, it is a type of tax that is paid for transactions carried out by way of document or instrument. Why is it necessary to pay stamp duty? The legitimacy of instruments is conferred upon them by paying sufficient stamp duty. These instruments acquire evidentiary value and are accepted as evidence in court. Instruments that have not been appropriately stamped are not admissible as evidence.

West Bengal Land Valuation Read More »

Kerala Ration Card

kerala ration card

The Kerala ration card allows all the citizens in the state of Kerala who belong to the lower sections of the society, access to food and grains at a subsidised rate. The ration card serves as a document which verifies various families in the state who are eligible to receive food grains at a subsidised rate.    The ration card is an important document which is issued by the Civil Department of the state to various families and also serves as a document which can be used as proof of identification in the country as well.  Kerala Ration Card 2024 The new ration card list has been launched by the Kerala government because of the lockdown in the country for 21 days. In this lockdown, the daily wage workers will be not able to earn food because of exactly no work. So the government wants to ensure proper food for all of the workers who are not able to earn their livelihood. Through the implementation of the ration card list, the cardholders will be able to gain their products and food supplies. Also, essential commodities will be made available to holders of ration cards. Details Of Kerala Ration Card Name Kerala Ration Card Launched by Kerala government Beneficiaries Kerala residents Objective Providing ration cards Official Website https://civilsupplieskerala.gov.in/ Types of Kerala Ration Card Antyodaya Anna Yojana cards: – This card is for the economically weaker section of the state. Priority cards: – This card is given to the BPL category people. Non-Priority cards: – This card is for the APL category. Eligibility Criteria for Kerala Ration Card 2024 The applicant must be an Indian citizen An applicant must be a permanent and legal resident of Kerala state The applicant must not possess any other ration card Kerala Ration Card Documents Required Voter ID card Driving License Any Photo Id card issued by the Government Passport Bank Passbook of the applicant Electricity Bill Latest Telephone/mobile phone Bill Rent agreement of the applicant Canceled or old Ration card of the applicant Kerala Ration Card Application Procedure Through Akshaya Centers- You can apply for the ration card through Akshaya centers present in Kerala state- Visit your nearest Akshaya Center. Ask for the application form. Submit the relevant document Verification will take place. Pay the fees for the ration card Your card will be sent to you. Through TSO or DSO Office- You can apply for the ration card through TSO or DSO Office present in Kerala state- Visit your nearest office of TSO or DSO. Ask for the application form. Submit the relevant document Verification will take place. Pay the fees for the ration card The fees for a new ration card application is Rs 5 Your card will be sent to you in 15 days. Via Online Mode-You can apply for the ration card through the online website- Visit the official website of the Civil Department Click on the New Ration Card option The new webpage will be displayed on your screen. Fill in all the information asked in the ration card application form carefully. Click on submit Click on the activation link sent to you. Login to the website using a login ID and password. In the case of the fresh application, the three options will be shown on the screen Issue of fresh ration card Non-inclusion Non-renewal certificate Click on your desired option Upload the necessary documents in PDF format. Verify the details. Take the printout of the application form for future reference. Submit the application form to the TSO center along with the required documents. Kerala Ration Card Offline Application Process- To apply for the Kerala ration card through offline mode you need to follow the further-mentioned steps: Get the application form through the nearest office or by visiting the official website To get the form from the site of the civil supplies department you need a computer or laptop or mobile phone with working internet Open the website and select the “ration card application forms” option from the menu barFurther, select the “application form for new ration card” option The form will appear on the computer screen, and give a print command Take a printout of the form and fill in the asked details Attach the required documents and submit the application to the nearest office of the department. FAQs Do I have to link my Kerala ration card to my Aadhaar card? Yes, you need to link your ration card to your Aadhaar card to avail government benefits. What is the process to check the application status of the ration card? In order to check the application status, applicants can do so by logging in to their account on the Civil Department of Kerala’s website. They can click on the option to check the status of the application. The minimum time required to process the application is 15 days.

Kerala Ration Card Read More »

Madhya Pradesh Ration Card

Madhya Pradesh Ration Card

The MP ration card intends to carry out the Targeted Public Distribution System (TPDS) under which, essential commodities such as wheat, rice, sugar, fertilisers, petroleum products, etc., are provided to the cardholders. MP Ration Card List 2024: Overview Name of the scheme  Ration Card Scheme  concerned department  MP Food Supply Department  Beneficiary  People from Madhya Pradesh State  Objective  Providing ration at low price  official website  samagra.gov.in  MP Ration Card List 2024: Types of MP Ration Card  1.BPL Ration Card – BPL ration cards are issued to those people who live below the poverty line. Those whose annual income is less than Rs 10,000, the colour of this ration card is blue, red and pink.  2. APL Ration Card – This ration card is issued to families living above the poverty line. The colour of this ration card is orange. The annual income of such families is up to 1 lakh.  3. AAY Ration Card – This ration card is issued to families living at a lower level than BPL families, and the color of this ration card is yellow.  MP Ration Card List 2024: Benefits  Through this ration, you are also given subsidy every month by the government on wheat, rice, kerosene oil etc., which is much less than the market price.  2. You can also use this ration card as a certificate to open a bank account.  3. You can use this ration card as an identity card to get electricity connection, bank account and gas connection.  Eligibility Criteria for a Madhya Pradesh Ration Card You must be a resident of Madhya Pradesh. You must not own a ration card. You must come under one of the three categories: APL, BPL, or AAY. Recently married couples can apply for a Madhya Pradesh ration card. You can apply for a Madhya Pradesh ration card, if your ration card has expired or if you possess a temporary ration card. MP Ration Card List 2024: Documents required for ration card Ration card of all family members  2. Identification card  3. Water ID  4. PAN card  5. Electricity bill  6. Passport photo of the head of the family  MP Ration Card List 2024: Application Process 1. To apply, first you have to visit the official website of Madhya Pradesh Samagra Portal  https://rationmitra.nic.in/ . 2. Now you have to create a Samagra ID on that website. 3. And while creating the Samagra ID, you will have to add the names of your family members also.  4. Once the ID is created, you have to visit the official website of registration to make a new Samagra BPL card.  5. After visiting the website, you will have to click on the option of online application.  6. After this, its form will open in front of you in which you will have to fill all the required information.  7. After this, you have to upload the passport size photo of the head of your family and click on the submit button.  8. After this you will get the registration number, and your name will also appear in the upcoming ration card list.  How to Check Madhya Pradesh Ration Card List Online? Step 1 – Visit the official website of the Madhya Pradesh State Food Security Portal. Step 2 – Click on the ‘Current Beneficiary Family’ option. Step 3 – You will be redirected to a new page. Step 4 – From the drop-down list, select your district. Step 5 – Enter the captcha code. Step 6 – Select your district from the list of districts displayed. Step 7 – Following the selection of the district, a list of all the ration shops in that district will be displayed. Step 8 – Choose the FPS Code in front of your ration shop’s name. Step 9 – A list including all ration card holders that fall under that ration shop will appear on the screen. Step 10  – You can search for your name in the list. Step 11 – To check the number of members on your ration card, choose the family ID. All information about your family members will then appear on the screen. FAQs What is the use of a Madhya Pradesh ration card? The ration card’s objective is to supply rations to the beneficiaries at a lesser cost according to the category of the ration card. What should I do if my name is not present on the Madhya Pradesh ration card list? You may need to wait a few days if your name is not present on the Madhya Pradesh ration card list. This is because the department will be updating the list with new names.

Madhya Pradesh Ration Card Read More »

Income Tax Calculator – FY 2024-2025

Income Tax Calculator - FY 2024-2025

Income tax calculator is a tool available online that aids in calculating the amount of income tax payable by an individual in a particular financial year. The tax calculator provides an approximate figure of your income tax liability by taking into account various data such as your income, tax deductions, HRA exemption, etc. You can pay income tax either as tax deduction at source during the payment of your monthly salary or via the Income Tax returns portal operated by the Central Board of Direct Taxes (CBDT). What is Income Tax Calculator An Income-tax calculator is an online tool that helps to evaluate taxes based on a person’s income, his respective tax slab and tax liability. Individuals falling under the taxable income bracket are liable to pay a specific portion of their net annual income as tax. Income tax can be paid either as tax deducted at source while disbursement of monthly salary, or through the income tax returns portal managed by the Central Board of Direct Taxes (CBDT). The provision for online payment of taxes is to ensure individuals pay their stipulated dues on any earnings generated from other sources. How to Use the Online Income Tax Calculator? Follow the below-given steps to use the Indian Income Tax Calculator: Choose the assessment year for which you want to calculate the tax. If you are looking for FY 2023-24, then the AY would be 2024-25, which you can select from the dropdown menu. In the next field, select your age. As already mentioned, Income tax in India differs based on different age groups. Next, click on the ‘income field’. Provide the details of your gross salary (monthly or yearly salary paid without any deductions). Also, you have to fill in other details like annual income from other sources such as rental income, annual interest paid on home loans for the self-occupied and let-out property. Next, enter the details of various deductions, viz. basic deductions u/s under Section 87A, 80C, 80CCD (1B), 80D, 80G, 80E, 80TTA, 80TTB, 80GG. Also, provide the details of interest on an educational loan and on deposits on the savings account. In the next step, provide the details of HRA exemption such as basic salary, DA, HRA, and total rent paid per annum. Finally, select whether you live in a metro city and hit the calculate button to obtain your tax liability. How to Understand Income Tax Slabs? The Indian Income-tax works on the basis of a slab system and the tax is levied accordingly on individual taxpayers. Slab implies the different tax rates charged for different income ranges. In other words, the more your income, the more tax you have to pay. These slabs of income tax are revised every year during the budget announcement. Again, These slab rates are segregated for different categories of taxpayers. As per the Income-tax of India, there are  three categories of “individual “taxpayers such as: Individuals below 60 years of age, including residents and non-residents Resident Senior citizens – 60 to 80 years of age Resident Super senior citizens – more than 80 years of age Exemptions on Total Income Tax Here’s how to calculate income tax based on exemptions- Section 87A – Income below Rs. 5 lakh is eligible for a tax rebate of up to Rs. 12,500. Section 80C – Rebate of up to Rs. 1.5 Lakh in any tax-saver fixed deposits, public provident funds, national savings certificate, unit-linked insurance plans, and equity-linked savings schemes on the interest income. Section 80CCD (1B) – Tax exemption of up to Rs. 2 lakh for money deposited in the national pension system. Section 80D – Up to Rs. 25,000 tax exemption on medical insurance premium bills. The limit rises to Rs. 50,000 for senior citizens. Section 80G – Any donations made to charitable organizations are fully exempt from tax calculations. Section 80E – Interest on education loan enjoys a 100% tax rebate for up to 8 years. Section 80TTA/80TTB – Interest income from savings accounts is eligible for tax waivers up to Rs. 10,000. For senior citizens, all forms of interest income up to Rs. 50,000 are fully waivered from tax calculations, under Section 80TTB. Section 80GG – Tax exemption on income spent towards paying house rent (house rent allowance.) How to Calculate the Total Income Tax Liability? How is income tax calculated is often a commonly asked question. Individuals can determine the total tax expenses through an online income tax calculator. Such tools take into account the following pointers to reflect the actual tax liability of a resident or non-resident Indian at the end of a financial year – Annual income from salary/profits. Income from other sources such as investments, rental income, etc. Tax exemptions applicable, if any. House rent and transport allowance. Entering accurate data regarding the above-mentioned pointers will demonstrate the total tax liability of individuals. Minus the taxes already paid through TDS, the remaining can be deposited directly online through the official portal Challan 280. If, in any event, the taxes paid exceed the total liability, the difference is reimbursed by the government within 30 days of filing for the same. Taxpayers who file their return after the due date will have to pay interest under 234A and penalty under section 234F. Hence, remembering the due date of filing income tax returns is indispensable. However, keep in mind that the due date varies according to the category of taxpayers. For instance, if you are a salaried individual, usually you must file your income tax returns by the 31st of July of the assessment year. FAQs What do you mean by Income Tax? Income tax is a tax levied on an individual’s or business’s annual income. It is calculated, assessed, and collected on the basis of the individual’s/business’s income for a particular financial year. Income tax in India is implemented through the income tax Act, 1961. How is my tax calculated on salary? It involves several steps, such as calculating your gross salary, figuring out deductions and exemptions, figuring out how much tax you owe, deducting tax you have already paid, etc.

Income Tax Calculator – FY 2024-2025 Read More »