October 2024

Trademarks are special unique signs that are used to identify goods or services from a certain company. They can be designs, pictures, signs or even expressions. It is important because it differentiates your products from the competitions. It can be associated with your brand or product. Trademarks are classified as intellectual property and therefore is protected from infringement. Trademarks and its rights are protected by the Trademark Act, 1999. To get the protection of trademark rights one has to register the trademark. It is important to register your trademark because it prevents others from copying your mark and misrepresenting other products with your mark. Trademarks help the customers to recognise the brand and the brand value in one look such as the logo of a tick sign for Nike or a jumping wildcat for Puma etc. Unlike patents, trademark does not have a definite limitation period. Where a patent expires in 20 years a trademark registration expires after 10 years of its registration, but unlike patents, a trademark can be renewed again for another 10 years. This process can be indefinitely done, meaning as long as you keep renewing the trademark it will not expire and will continue to be under the protection of the Act. What Is a Trademark? Trademarks not only help distinguish products within the legal and business systems, but—just as significantly—with consumers. They are used to identify and protect words and design elements that identify the source, owner, or developer of a product or service. They can be corporate logos, slogans, or the brand name of a product. Similar to a trademark, a service mark identifies and distinguishes the source of a service rather than a physical product, although the term trademark is often used to refer to both trademarks and service marks. Using a trademark is intended to prevent others from using a company’s or an individual’s products or services without their permission. Trademark laws also prohibit any marks that have a likelihood of confusion with an existing one. This means that a business cannot use a symbol or brand name if it looks or sounds similar, or has a similar meaning to one that’s already on the books—especially if the products or services are related. For instance, a soft drink company can’t legally use a symbol that looks like that of Coca-Cola and it can’t use a name that sounds like Coke. Trademarking a Brand Name By trademarking your company’s name, you are protecting the brand, its reputation, and your ideas, all of which you undoubtedly invested a great deal of blood, sweat, and tear working on. And while the procedure for trademark registration itself will take time in all areas considered, nothing would be worse than not protecting your brand and potentially be faced with an infringement lawsuit from a larger company. The process of brand trademark registration in India is now possible and convenient through the trademark registration portal (IP India Portal) and you can trademark any one of the below things or even a combination of the following: – Letter     – Word     – Number     – Phrase     – Graphics     – Logo     – Sound Mark     – Smell or a mix of colors Who Can Apply For a Trademark? The trademark owner can apply for trademark registration. In the Trademark Registration form, the person whose name is mentioned as the applicant will be declared as the owner of the trademark once the trademark is successfully registered. Any individual, a company and an LLP can be an applicant and may file the application for the registration of the particular trademark. Trademark Registry The trademark registry was established in 1940 then came the Trademark Act which was passed in 1999. Currently, the trademark registry works as the operation or functional body of the Act. As a functioning body, the trademark registry implements all the rules and regulation of the trademark law in India. The Head Office of the trademark registry is in Mumbai, and it has branch offices in Delhi, Ahmedabad, Chennai and Kolkata. A trademark is registered under the Trademark Act, 1999 and then entered into the Trademark Registry. In this process, the registry will check whether the registering mark meets all the conditions of the Act before registering it. Documents Required for Trade Mark Registration A copy of the trademark or of the logo. In case of trade mark for word, logo is not required. Applicant’s details like name, address and nationality. In case of company or LLP, the incorporation certificate. Udyog Aadhar registration, in case the company is eligible for lower filing fee. Description of goods or services represented by the mark. Trademark class under the application must be filed. Power of attorney in Form 48 Format should be signed by the applicant How to Register a Trademark? Step 1: Trademark Search The first step is trade mark search. The search should be done in both for various combination of similar marks on the intellectual property website. In case similar marks are found, check the description to see if the mark represents the same set of goods or services proposed by you. Step 2: Application Preparartion In the second step, an application is prepared by the Trade Mark Attorney. Form 48 and TM-1 will be prepare for approval and signature of the trade mark applicant.  Step 3: Application Filing In the third step, the trade mark filing is completed with the Trade Mark Registry. The Government fee for registering a trade mark for an individual, startup, small enterprise is Rs.4500. For all other types of applicant, the Government fee is Rs.9000. there is a separate fee setup for the attorney professional which is Rs.3500 for each application.  Step 4: Government Processing Once a trade mark application is filed and the Government is processing the application, the status of the trade mark application must be checked periodically. In case of objection, an objection reply must be submitted by the applicant within 30 days. Similarly, in case of opposition, the applicant must respond in a time-bound manner to allay the concerns of the counter-party Validity of Registered Trade Mark Once a trade mark application is filed with the Trade Mark office, the applicant can begin using

There are certain legal documents that indicate the ownership of the property distinctly, and they can be obtained by paying the stamp duty and registration charges on the property in Chennai. Simply put, stamp duty is a property tax of sorts, which is to be paid in full by the buyer in the specified time. It is like the Advance Income Tax or the service tax collected by the government and serves as a legal evidence of the fact that the buyer has purchased the property. Paying the Stamp Duty and Property Registration Charges ensures that the property is officially registered in the buyer’s name. In case the buyer fails to do so, it will result in huge penalties and a decline in the value of the property. Stamp Duty and Property Registration Stamp duty is a direct the tax imposed by the state government on the sale or transfer of property according to Section 3 of the Indian Stamp Act, 1899. The amount of stamp duty is a specific percentage of the value of the property and it varies from state to state. It is applicable on all transfer instruments before registration (except in case of transfer by will), such as agreement to sell, conveyance deed, gift deed, tenancy agreements, exchange deed, etc. and it is payable before the execution of such transactions or within one working day. The stamp duty on property registrations form a significant part of the government’s revenue. Similarly, property registration charges refer to the fee that must be paid for registering the property in your  Stamp Duty and Registration fee in Chennai Document Classification Stamp Solution Registration Fee Conveyance (Sale) 7% on the market value of the property 4% on the market value of property. Gift 7% on the market value of the property 4% on the market value of the property. Exchange 7% on the market value of the greater value. 4% on the market value of greater value property. Simple Mortgage 1% on the loan amount (subject to a maximum of Rs 40,000) 1% on loan amount (subject to a maximum of Rs.10,000) Mortgage with possession 4% on loan amount 1% (subject to the maximum of Rs.2,00,000) Agreement to Sale Rs.20 1% on total consideration if possession is given Agreement relating to construction of building 1% on the cost of the proposed construction/the value of construction/ the consideration specified in the agreement, whichever is higher 1% on the cost of the proposed construction/the value of construction/ the consideration specified in the agreement, whichever is higher Cancellation Rs.50 Rs.50 Partition     i) Partition among family members 1% on the market value of the property (subject to a maximum of Rs.25,000 for each share) 1% (subject to a maximum of Rs.4,000 for each share.) ii) Partition among non-family members 4% on the market value of the property for separated shares 1% on the market value of the property for separated shares ii) General Power of Attorney to sell the immovable property (Power is given to family member) Rs. 100 Rs.1,000 iii) General Power of Attorney to sell the movable property and for other purposes Rs.100 Rs.50 iv) General Power of Attorney given for consideration 4% on Consideration 1% on consideration or Rs.10,000, whichever is higher Settlement – – i)In favour of family members 1% On the market value of the property (not exceeding Rs.25,000) 1% on the market value of the property (subject to a maximum of Rs.4,000) ii) Other Cases 7% on the market value of the property 4% on the market value of the property Documents Required for Property Registration Duty stamped signed and executed document. The claimant of the sale document must also sign in the sale deed and also appear before the registering officer for registration of the sale deed. Patta transfer application with court fee PAN Card or Number Patta passbook An ID card for executant and claimant (for all deeds) An ID card for witnesses (for power deed only) Property Registration Procedure Property Due Diligence Prior to negotiating the price of a property and/or entering into a property sale agreement, the buyer must first undertake a thorough due-diligence of the property to be purchased. Since property laws and procedures are complex, it is best to engage a qualified Lawyer specializing in property transactions from the relevant area to ensure smooth completion of the process. (Know more about the procedure for obtaining encumbrance certificate in Tamilnadu. Stamp Paper Purchase Once thorough due diligence of the property is complete, and the decision is made to go ahead with the purchase, stamp paper must be purchased based on the property registration charges. Stamp paper vendors must sell stamp paper at face value of the stamp. The Sub Registrars, Treasuries, and Assistant Superintendent of stamps, Chennai also provide stamp papers along with the stamp paper vendors. Further, stamp paper is also available at the “Stamp Sales Depot” at 27, Rajaji Salai, Chennai 600001. The Sub Registrars, Treasuries, and Assistant Superintendent of stamps, Chennai also provide stamp papers along with the stamp paper vendors. Preparing the Sale Deed A professional must draft the sale deed after purchasing the stamp paper. The following personnel can prepare the sale deed:  Advocates  Licensed document writers Chartered Accountants having document writing license It is very important to choose a professional with extensive experience for property purchases to ensure there are no defects in the sale deed. Property Registration Property registration in Tamilnadu must complete within four months of executing the sale deed. Delay in the registration of property documents attracts a penalty as below: Up to 1 week – 25% of the registration fee Up to 1 month – 75% of the registration fee For 4 months – 100% of the registration fee The property registration must be completed at the Sub-Registrar’s office under its jurisdiction, the property is situated or in the District Registrar’s office of that Registration District. It’s important to note that property registration doe outside the state is null and void. The Registrar returns the registered documents on the same day or

Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock. Paid-up capital is created when a company sells its shares on the primary market directly to investors, usually through an initial public offering (IPO). When shares are bought and sold among investors on the secondary market, no additional paid-up capital is created as proceeds in those transactions go to the selling shareholders, not the issuing company. Paid up Share Capital Paid up share capital is the part of total called up amount which is actually paid by the shareholder.It refers to the amount that has been received by the company through the issue of shares to the shareholders. Company cannot issue paid up capital more than the authorized capital of the company. However, a company may increase its paid-up capital, then it can do so by altering capital clause of memorandum. Benefits of increasing Paid up Capital of the Company Growth :- By increasing the capital you can grow the business. If you have idea of growing business then you need to infuse a good amount of paid up capital into your business. Innovation :- More capital will result in tapping more ideas related to invention. Hence, by increasing the paid up capital, the company can become more innovative Competition:- By increasing capital we can easily give competition to the market as technology is changing very fast. Hence, to compete and to stay in market, more capital will be required. Changing environment :- With the  change in environment,  market is changing very fast. Hence, to give more satisfaction to consumer we have to make our business better and for that we have to need increase our paid up capital. Which companies can increase its paid-up capital? Both public limited company and private limited company are allowed to increase paid up capital. However, there are restrictions on private limited company that they can not issue shares to general public How to increase Paid up Capital of Company? Private placement: Private placement is a method through which offering of securities can be made to not more than 200 persons in the aggregate in a financial year. This mainly include family ,friends etc. Excluding qualified institutional buyers and employees of the company. Private placements are exempt to issue prospectus but they are issued by offering an offer letter. Right issue of shares: It refers to an invitation to subscribe shares to the existing shareholders at discount rate .In this method when company wants to rise paid up capital company, it goes to existing shareholder of the company rather than public. By this company give chance to existing shareholder to get share at discount rate. Preferential basis: In this method company issue shares or other securities to selected group of persons .Value of offer per person shall not be less than Rs. 20000/- of face value. It must be authorized by Article of association of the company and approve by shareholder at Annual general meeting . Sweat equity shares: These shares are issued to directors or employees at discount or consideration other than cash for providing known how or making available rights in the nature of intellectual rights or value additions. Conversions of  debentures into shares : Through this method, a company may convert its  debentures into shares by passing a special resolution. Also, in this money invested cannot be refunded until liquidation. Issue of bonus shares: it is an offer to issue additional shares to the existing shareholders. It is also called scrip issue. It must be authorized by company articles of association.company can simply issue bonus share by its free reserves. For example , company will issue 1 share on every  5 shares hold by each shareholder of  the company. Procedure to increase Paid up share capital of the company Hold a Board Meeting and Pass board resolution at board meeting During board meeting, decide the way to increase capital Send notice to all member for calling general meeting and approve the same by passing members resolution. Submit relevant form to MCA. Within 60 days from application money allot shares to the shareholders. After allotment company shall issue share certificate within 2 months of allotment to all the shareholder of the company. Paid-Up Capital vs. Authorized Capital When a company wants to raise equity, it cannot simply sell off pieces of the company to the highest bidder. Businesses must request permission to issue public shares by filing an application with the agency responsible for the registration of companies in the country of incorporation. In the United States, companies wanting to “go public” must register with the Securities and Exchange Commission (SEC) before issuing an initial public offering (IPO).1 The maximum amount of capital a company is given permission to raise via the sale of stock is called its authorized capital. Typically, the amount of authorized capital a company applies for is much higher than its current need. This is done so that the company can easily sell additional shares down the road if the need for further equity arises. Since paid-up capital is only generated by the sale of shares, the amount of paid-up capital can never exceed the authorized capital. FAQs Importance of Paid-Up Capital Paid-up capital represents money that is not borrowed. A company that is fully paid-up has sold all available shares and thus cannot increase its capital unless it borrows money by taking on debt. A company could, however, receive authorization to sell more shares. A company’s paid-up capital figure represents the extent to which it depends on equity financing to fund its operations. This figure can be compared with the company’s level of debt to assess if it has a healthy balance of financing, given its operations, business model, and prevailing industry standards.

Advance tax is the income tax which is paid by the taxpayer in advance instead of making a lump sum payment at the end of the financial year. It is basically the tax which you pay as you earn. The taxpayer has to pay the amount in instalments as per the due date given by the income tax department. Another way of advance tax payment is by paying it through Online tax payment website of the Income Tax department or the National Securities Depository. What is Advance Tax? Advance tax is the amount of income tax that is paid much in advance rather than a lump-sum payment at the year-end. Also known as earn tax, advance tax is to be paid in installments as per the due dates decided by the income tax department. Who is Liable to Pay Advance Tax? Taxpayers who owe more than Rs. 10,000 in taxes, after adjusting TDS, in a fiscal year are required to pay advance tax. This rule applies to all categories of taxpayers, including freelancers, professionals, salaried individuals, and senior citizens. Senior citizens who are more than 60 years old and do not own an enterprise are exempt from paying advance tax. For taxpayers who choose a presumptive tax regime under Section 44AD for businesses. They are supposed to pay the full advance tax liability in a single payment on or before 15 March. Nevertheless, they can also pay their tax liabilities by 31 March. Under the presumptive tax regime under Section 44ADA. Independent professionals like architects, doctors, lawyers, consultants, etc., have to pay the full advance tax liability in a single payment either on or before 15 March. They also have the option to pay the entire amount by 31 March. Who Should Pay Advance Tax? Salaried individuals, freelancers and businesses– If your total tax liability is Rs 10,000 or more in a financial year, you have to pay advance tax. The advance tax applies to all taxpayers, salaried individuals, freelancers, and businesses. Senior citizens– People aged 60 years or more who do not run a business are exempt from paying advance tax. So, only senior citizens (60 years or more) having business income must pay advance tax. Presumptive income for businesses–The taxpayers who have opted for the presumptive taxation scheme under section 44AD have to pay the whole amount of their advance tax in one instalment on or before 15th March. They also have the option to pay all of their tax dues by 31st March. Presumptive income for professionals– Independent professionals such as doctors, lawyers, architects, etc. come under the presumptive scheme under section 44ADA. They have to pay the whole of their advance tax liability in one instalment on or before 15th March. They can also pay the entire amount by 31st March. Advance Tax Due Dates for FY 2023-24 The last date to pay the final instalment of advance tax payment for the Financial year 2023 – 2024 is 15th March, 2024. On this date, 100% of advance tax liability has to be paid by taxpayers. The following tables provide a comprehensive understanding of the due dates and liability of advance tax for various types of taxpayers. Tax Advance Payment for Companies Due Date of Tax Instalments Amount of Tax Payable On or before 15th of June  15% On or before 15th of September 45% On or before 15th of December 75% On or before 15th of March 100% Tax Advance Payment for Business Owners and Self-employed Due Date of Tax Installment Amount of Tax Payable On or before 15th of September  30% On or before 15th of December 60% On or before 15th of March 100% How to Pay Advance Tax Online ? Step 1: Visit the official Website of the Income Tax Department Step 2: Click ‘e-pay Tax’ option under ‘Quick Links‘ Step 3: Now, Enter your ‘PAN‘ and ‘Mobile Number‘. Click on ‘Continue‘ Step 4: Enter the ‘OTP‘ received on your Mobile and Click on ‘Proceed‘ Step 5: Select First Tab i.e ‘Income Tax’ Option and ‘Continue‘ Step 6: You’ll have to fill in details such as the right assessment year, address, phone number, email address, bank name, captcha code and other details. Step 5: Once you are done filling in the details, you’ll be redirected to the bank’s Net Banking page. Step 6: Next, you’ll get details of your payment including your challan number. Step 7: It is important to report your payment after you’ve made the payment. How to Calculate Advance Tax Payment? Step 1:   Estimate how much income you earned in the financial year for which you are doing the advance tax calculation. Income from any interest earned from FDs, savings account, etc. Capital gains.  Professional income. Rental income.  Income of minors if it is added to that of the taxpayer. Any other income.  Step 2:  Add your salary to the figure above to arrive at the gross taxable income. Step 3: Calculate the tax payable by applying the latest income tax slab that is applicable to you. Step 4: As per the TDS slab, deduct the TDS that is likely to get deducted or which has already been deducted. If your tax liability after deduction of TDS exceeds Rs.10,000, you are liable to pay advance tax. FAQs What happens if advance tax paid is more than the total tax liability? If the advance tax paid is more than the total tax liability, the extra amount will be refunded. If the advance amount is more than 10% of the tax liability, then an interest of 6% p.a. will be paid by the IT Department. What is the fine for failing to pay advance tax by the due date? Under sections 234B and 234C of the Income Tax Act, you will be assessed interest if you miss the deadlines for paying advance tax.