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Trust Registration is governed by the Indian Trust Act, 1882 where the author (owner) assigns the rights of the property to a trustee so that the beneficiary i.e. the third person can take benefit out of it. The trust is carried out by way of an instrument called trust deed which is formed on a non-judicial stamp paper as per the stamp rates of the different states. Trust Deed is the core document which defines the reason for formation of trust, details of the author, trustee and the beneficiary. It lays down all the working and functioning of the trust until its closure. The trust deed is registered with the sub-registrar of the concerned jurisdiction. What is a Trust? Let’s understand the concept of trust with the help of an example:Mr Z wants to pass his bungalow (property) to Mr M for the benefit of his minor granddaughter. Mr Z passes his property to Mr M, because he reposes (has) confidence on Mr M. This is nothing but the essence of a trust. In simple words, a trust is nothing but a transfer of property by the owner (Mr Z) to another person in whom the owner has confidence (Mr M) for the benefit of a third person (Granddaughter of Z). The property doesn’t just mean real estate. It could be cash, shares or any other valuable asset. Further, the instrument by which this entire trust is declared/created is called “the instrument of trust” or the “trust deed”. Parties in a Trust Author/Settlor/Trustor/Donor (Mr Z): The person who wants to transfer his property and reposes confidence on another for the creation of the trust. Trustee (Mr M): The person who accepts the confidence for the creation of the trust Beneficiary (Mr Z’s granddaughter): The person who will benefit from the trust in the near future. Advantages of Trust Registration Litigation- Every Trust has its legal entity separate from its members it is capable of filing suits against any person or any member. The registered trust can file a suit anywhere in India and in any state even if it is not registered in that particular state. Legal status-Registration of trust gives it a legal status and that is very important because of various reasons like: for opening the bank accounts, Obtaining registrations and approvals under Income Tax Act, legally vesting properties. Tax Benefit- The trust can take the tax benefit after applying for the 12AA/80G Certificate. Both the trust and the investor get tax exemptions.  Types of Trust Private Trust-Private trust is for a closed group. In other words, the beneficiaries can be identified. For example: A trust created for the relatives and friends of the author. Public Trust-It is a trust formed for public, religious or charitable purpose or both and includes a temple, or any religious or charitable institution and formed either for a religious or charitable purpose or for both. Objectives of a Trust in General The main objective is that the trust should be created for a lawful purpose. For example, if Mr Z had stolen money from a bank and given it to Mr M with the intention of giving the money to poor children then, in this case the trust itself is void as the very main purpose is unlawful.    So how do we actually understand as to whether the purpose is lawful or unlawful? The answer to it lies in Section 4 of the Act. As per Section 4, all purposes are said to be lawful unless it: Is forbidden by law Defeats the provisions of law Is fraudulent Involves injury to another person or his property Immoral or against to public policy Document Required Self-attested copies of Identity Proof (Trustor, Trustee, Beneficiary) Photograph of Trustor, Trustee, Beneficiary Address Proof of Registered Office PAN Card of Trustor, Trustee, Beneficiary Process of Trust Registration The process of registering a trust in India is relatively simple and straightforward. The first step is to identify the type of trust you wish to create. There are two main types of trusts in India: private trusts and public trusts. Private trusts are typically created by individuals for the benefit of their family or themselves, while public trusts are created for the benefit of the general public. Once you have determined the type of trust you wish to create, the next step is to choose a name for your trust. The name should be reflective of the purpose of the trust and should be approved by the Registrar of Companies. The next step is to appoint trustees. Trustees are responsible for managing the affairs of the trust and ensuring that it operates in accordance with its objectives. You will need to appoint at least three trustees, who must be natural persons (i.e. not companies or other legal entities). Once you have appointed trustees, you will need to draft the trust deed. The trust deed is a legal document that sets out the rules and regulations governing the operation of the trust. It must be signed by all trustees and registered with the Registrar of Companies. The final step in setting up a trust is to fund it. This can be done by making a financial contribution to the trust, or by transferring assets such as property or shares into its name. Once you have completed all of these steps, your trust will be registered and operational. 12A and 80G Certificates Income Tax Department issues 12A certificate to the trusts or NGOs that are involved in social welfare. Such certificate is issued for a period of 5 years and can be renewed after making an application and is not liable to pay Income tax for the entire lifetime on its surplus income. Additionally, an NGO can also apply for 80G certificate. This certification provides the donor benefit under Income Tax Act as deduction. Comparison between Trust, Societies and Section 8 Company S. No. Basis Section-8 Trust Society 1. Governed by Companies Act, 2013 Indian Trust Act, 1882 Societies Registration Act, 1860 2. Registration

Royal Enfield has always been one of India’s most trusted motorcycle companies. It has about one hundred and eighty traders in various parts of the country. This company has 100 years of experience, and such requires minimal marketing. In this article, we hope to provide you with an understanding of the company and details about the Royal Enfield retailer franchise.One of the greatest stories of war never told would be of the first motorbike that was capable of being airdropped behind enemy lines, playing a vital role in some of the most significant battles of the Second World War. Fondly recalled as ‘The Flying Flea’ by the men who rode them into action, these motorcycles were manufactured at an underground facility in Westwood, UK and designed to be deployed via parachutes and troop-carrying gliders offering communications support along with swift mobility among the forward units of the Airborne Pegasus Regiment across crucial operations such as D-Day and Arnhem. This motorcycle, along with several other classic creations conceived through the years, was a part of The Enfield Cycle Company Limited or commonly known as Royal Enfield. Backed up by inspiring tales of adventure and war, the Royal Enfield Motorcycles have a history like no other vehicle. Royal History – Royal Enfield In the year 1891, Albert Eadie and R.W. Smith started the Eadie Manufacturing Company at Redditch by overtaking another entity called the Townsend Cycle. This later went on to be known as the Enfield Manufacturing Company Ltd. The era of Royal Enfield began through the years of supplying precision rifle parts to the Royal Small Arms and launching motorised Tricycles and Quadricycles. In the year 1899, the company showcased its first mechanical vehicle powered by a 1.5 HP motor. They had succeeded in moving the engine of a motorcycle inside the frame for the very first time, which later became a standard configuration for bikes. During the 1900’s, the company went ahead and built its first Royal Enfield car in 1901. After several significant upgrades over the years, Royal Enfield made a breakthrough innovation of using small V twin engine machine built with Swiss tradition and was successful. The company gained quick recognition and fame as it was extensively used for carrying machine guns during the World War I and II. From the years 1924 to 1932, Royal Enfield achieved many milestones such as the launching of its first motorbike with four-stroke 350 CC engine, the first company to adopt saddle tanks, the manufacture of several new creations such as the two-stroke engine and 1140 CC V twin engine motorcycles all the way to the very first Bullet in the year 1932 with an inclined engine and an exposed valve gear. In search of two-wheelers that could be used for patrol duties on the country’s border by the military, the Government of India decided to order 800 units of 350 CC Bullets in 1955 unaware of the rage it would turn out to be in the country. Therefore in 1955, the Redditch Company combined with Madras Motors in India to form what was called ‘Enfield India’ to assemble the large order under license and chose Madras as its base. In 1990, Enfield India entered into a significant and strategic alliance with the Eicher Motors and later merged with the same by 1994. It was during this merger; the company rechristened itself from the name Enfield India to Royal Enfield. The company is known to produce one of the sturdiest and robust motorcycles in the world at their manufacturing facility in Chennai. The legacy of Royal Enfield continues to this day by being deployed to some of the harshest and most testing terrains in the world by the Indian Army. Products Royal Enfield Bullet- The Bullet has a way of its own. The traditional approach with a hand painted fuel tank, classic carbureted engine and period-perfect styling makes the Bullet a classic. The Bullet is known for its reliability and sturdiness which are the main reasons for its enduring legacy of service in varying terrains. Key Features:Engine: 346 CC, 4-strokePower: 19.8 bhp at 5250 RPMTorque: 28 Nm at 400 RPMTransmission: 5-speedMileage: 25 KMpL in the city and 30 KMpL on highwaysTop Speed: 100 KMpH Classic- The Royal Enfield classic takes one back in time with its blend of classic styling cues with modern parts and brings the retro up by a notch. These motorcycles are infused with power, fuel efficiency, reliability and has simple, yet drop dead gorgeous post war styling. Key Features:Engine: 346 CC/499 CC, 4-strokePower: 19.8 bhp at 5250 RPMTorque: 28 Nm at 4000 RPMTransmission: 5-speedMileage: 25 KMpL in the city and 30 KMpL on highways (approx.)Top Speed: 130 KMpH Thunderbird- The Thunderbird is built for cruising long distances with its set-in, laid-back riding stance that can help long drive enthusiasts to go on end for hours without being exhausted. The upgrades bought into this motorcycle includes a 20-litre fuel tank that gives you 550 to 700 KMs in a shot which makes every trip a breeze for its users. Key FeaturesEngine: 346 CC and 499 CCPower: 19.8 bhp at 5250 RPM and 27.2 bhp at 5250 RPMTorque: 28 Nm at 4000 RPM and 41.3 Nm at 4000 RPMTransmission: 5-speedMileage: 20 KMpL in the city and 30 KMpL on highways (approx.)Top Speed: 130 KMpH Continental GT- Royal Enfield aimed to bring back an contemporary translation of the Continental GT from 1965 in 2014. Popular among British motorcyclists in the early 1960’s, the café racer is a motorcycle built for speed and stability. It’s double cradle frame chassis, the first on an Enfield has been developed by industry expert Harris Performance. Forty-eight years after the launch of the first Royal Enfield Continental GT, the toned built ride that defined an era was bought back in a better rendition. Key Features:Engine: 535 CC, single cylinder, 4-stroke, air cooledPower: 29.1 bhp at 5100 RPMTorque: 44 Nm at 4000 RPMTransmission: 5 speedMileage: 20 KMpL in the city and 30 KMpL on highwaysTop

Almost everyone is familiar with the general idea or concept of a will. We know it is a written statement made by a person expressing how one would like his or her assets to be distributed in the event of one’s death. And yet, several people die every year without a will causing family feuds and disputes. Family courts are filled with property disputes due to a lack of a will or a lack of clarity in the will. In this article we’ll discuss about the eligibility of a will & the types of wills. A will need not be made just before a person’s demise. The person can plan his/her will well in advance. In fact the process of drafting a will pushes a person into addressing the tedious task of planning their long term finances and of course, face the idea of mortality. This may also be the reason why many people put off drafting the will under the presumption that they have ample time to do so. One can draft a Will by hand or type it out. It should contain clear information about personal and family details, property, beneficiaries, and witness information. It is important to ensure that the Will is created under sound mental capacity, without any external pressure, fear, or coercion. Will is a type of legal document used to transfer the property of a person after death as per his/her wishes. The importance of Will cannot be stressed enough as lakhs of civil cases are pending before various Courts for resolving inheritance disputes. Further, all Wills are revocable at any time during the life of the person and is a confidential document. Hence, it is important for everyone to know about the benefits of having a Will and create a Will. Unprivileged Will Will created by a person who is not a soldier employed in an expedition or engaged in actual warfare or a mariner at sea is known as an unprivileged Will. For an unprivileged Will to be valid, it must satisfy the following conditions: The person creating the Will must sign or affix his/her mark to the Will. Else, some other person should sign as per the directions of the testator (Person creating the Will) in his/her presence. The signature or mark of the testator or the signature of the person signing for the testator must be placed so that it appears that it was intended to give effect to the writing as Will. The two or more witnesses should attest to the will. The witnesses must have seen the testator sign or affix his mark to the Will or has seen some other people sign the Will, in the presence and by the direction of the testator. Privileged Will Privileged Wills are Wills that may be in writing or made by word of mouth by those in active services like a soldier, airman or mariner. The legal requirement for the validity of a privileged Will has been reduced to enable certain persons to quickly make a Will. The following conditions are applicable for a privileged Will: The testator writes the whole will with his own hand. In such a case, it need not be signed or attested. The testator should sign the privileged Will written wholly or in part by another person. In such a case, there is no requirement for attestation. A Will written wholly or partly by another person and not signed by the testator is a valid Will if it is proved that it was written by the testator’s directions or that the testator recognized it as his/her Will. A half-completed privileged Will is also considered valid if it is proved that non-execution was due to some other reason and does not appear to be an abandonment of intentions to create a Will.  A privileged Will can be made by word of mouth by declaring intentions. If a soldier or airman or mariner has given written or verbal instruction for the preparation of a Will but has died before it could be prepared and executed. And such will is a valid Will. Conditional or Contingent Wills A Will can be expressed to take effect only in the event of satisfying certain conditions or can be contingent upon other factors. Such a Will, which is valid only in the event of the happening of some contingency or condition, and if the contingency does not happen or the condition fails, is called a conditional or contingent Will. Concurrent Wills Concurrent Wills are written by one person wherein two or more Wills provide instructions for disposal of property for the sake of convenience. For instance, one Will could deal with the disposal of all immovable property whereas another Will deals with the disposal of all movable property. Joint Wills Joint Will is a type of Will wherein two or more persons agree to make a conjoint Will. If a Joint Will intends to take effect after the death of both persons, then it would not be enforceable during the life-time of either. The person at any time during the joint lives or after the death of one can revoke the joint will. Mutual Wills In a Mutual Will, the testators confer upon each other reciprocal benefits. A husband and wife will execute a mutual will to pass on all benefits to the other person during their lifetime. Duplicate Wills The testator will create a duplicate will for the sake of safety or safekeeping with a bank or executor or trustee. However, if the testator destroys the Will in his/her custody, then the other Will is also considered revoked. Sham Wills Sham Wills are executed but held invalid if the testator does not intend to execute as per his/her wishes. As per the Indian Succession Act, a Will made by fraud or coercion or by taking away the free agency of the testator is considered invalid. Holograph Wills The testator writes this holograph wills entirely in its own handwriting. Who Is Eligible? According to

The Securities and Exchange Board of India (SEBI) plays a vital role in regulating and developing the Indian financial markets. Established in 1988, SEBI is the primary regulatory authority for securities markets in India. Its principal objective is to protect investors, maintain market stability, and promote the development of the securities marketThe Primary and Secondary Financial Markets are based on investors. They put their money into the stock market in order to support economic growth and market expansion, which will result in higher profits. The basic goal of investor protection is to ensure that investors are properly informed about their purchases, transactions, and corporate activities. The investors control the degree of activity. The Securities and Exchange Board of India (SEBI) was founded with the primary goal of defending the interests of securities investors. Promoting the growth and regulation of the stock market is one of the SEBI’s goals.  Securities and Exchange Board of India (SEBI) has been established with the prime mandate to protect the interest of investors in securities. One of the missions of the SEBI is to promote the development and regulation of the Stock Market. Meaning of an Investor An investor is one, may be an individual or a legal entity who invests capital in the venture or business but does not participate actively in the day to day management/ affairs of the business. An investor is someone who contributes money to a project or business but does not actively manage or participate in its day-to-day operations. He is a person who invests to earn profit from instruments like Shares, Mutual Funds Debentures, etc. The significance of protecting Investors The securities market depends heavily on investors. An investor is someone who invests money in the hope of making a profit. For the financial markets to develop well, there must be strong investor protection. It is crucial to safeguard investors’ interests, and doing so has a big impact on how an economy’s financial system is set up. Investor protection includes a variety of policies put in place to safeguard investors’ interests from fraud in the stock market, mutual funds, and other areas.  Meaning of Investor Protection Investor protection is a wide term that defines measures to protect the investors from malpractices of companies, merchant bankers, depository participants and other intermediaries.A sign of assurance is the investor insurance money. Investor protection, to put it simply, means that, up to a certain extent, you will get your money back if the dealer declares bankruptcy or bows to extortion. When opening a trading account or a record with an internet dealer, it is an important factor to take into account. You typically receive financial backing security when you open an exchange account with a brokerage. According to the SEBI Act, 1992 “Investor protection” is ‘protecting the interest of the investors in securities and promoting the development of and to regulate the securities market and for matters connected therewith or incidental thereto.’ What is SEBI and how SEBI Protects Investor Right? On April 12, 1992, the Securities and Exchange Board of India was established as a legally binding administrative organization.  The primary goal of SEBI is to manage and control the Indian commodity and securities markets while developing policies and regulations. SEBI’s headquarters are located at Mumbai’s Bandra Kurla Complex. The corporate structure of SEBI consists of various divisions, each of which is headed by an office head.  There are more than twenty divisions. These offices include those for company accounts, financial and strategy investigations, obligation and mixture protections, authorization, human resources, executive rumor, product subsidiaries market guidance, legal concerns, etc. The primary purpose of SEBI is to protect the financial backers’ interests in the protections market are as follows: It manages the business while advancing the market for protections.  Stockbrokers, sub-dealers, Portfolio managers, speculators, experts in the stock market, brokers, trader financiers, trustees of trust deeds, recorders, guarantors, and other connected people can apply for and manage work through SEBI.  It regulates the actions of safes, members, guardians of safeguards, unidentified portfolio financial backers, and FICO rating agencies.  It prevents internal trade securities, such as fraudulent and absurd business practices in the insurance industry.  It guards against internal exchanges that are fake or unjustified, as determined by the market. It ensures that financial backers are informed about the protection’s markets’ intermediaries.  It monitors significant company acquisitions and takeovers.  In order to ensure that the protections market is continually competent, SEBI engages in new efforts. A wide range of market participants are covered by SEBI’s regulatory framework, including listed companies, stock exchanges, brokers, and investment advisers. In order to guarantee accountability, fairness, and openness in the securities market, SEBI has adopted a number of regulations. These rules address topics including insider trading, transparency obligations, and market manipulation, among others. To enhance investor protection in India, SEBI has also implemented a number of initiatives. Enhancing disclosure requirements is one of these measures’ most crucial components. Companies must promptly and completely educate investors about their financial performance, corporate governance policies, and other pertinent information. In order to guarantee that they carry out their responsibilities with integrity and professionally, SEBI has also implemented stiffer rules for auditors and credit rating organizations. Along with these steps, SEBI has regulated mutual funds and portfolio managers to guarantee that investors have access to a variety of investment options and that these options are managed by qualified and professional organizations. Additionally, SEBI has launched a number of efforts to enlighten investors of their rights and obligations and to motivate them to make wise investment choices. SEBI’s role in Investor Protection Investing activities become pleasurable if the investor knows How to invest. Where to invest What to invest in Has knowledge about markets There no malpractices And there is redressal for grievances for the malpractices SEBI’s investor protection strategy has four branches. Educating the Investors or Investor Education and Awareness Disclosure based regulatory Regime Systems and practices which make transactions safe. Redressal of Investor Grievances 1. Investor Education and Awareness- To protect the interests of investors

The government of Haryana has launched Antyodaya SARAL Portal for citizens of the state. This portal has been introduced to help citizens seek hassle-free, corruption free and time bound service delivery in the government offices. Antyodaya SARAL Portal is introduced as part of the Haryana Right to Service (RTS) Act, 2014. The website and helpline provide information on schemes and various government services online. Antyodaya SARAL Haryana portal is a single service delivery portal for citizens to avail of services and schemes on it anywhere, anytime. With the intent to sync with the ‘Digital India’ vision, Antyodaya SARAL Haryana aims to provide complete digitisation of 600+ Haryana Government to Citizen (G2C) services and schemes. The Antyodaya SARAL Haryana portal is integrated with the Parivar Pehchan Patra (PPP), which auto-fills verified details of Haryana citizens. The Saral portal, Haryana is also integrated with the Jansahayak mobile app to encourage the use of state government services and schemes. Objective of Antyodaya SARAL Portal Aligning with Digital India’s vision of faceless, paperless and cashless services & scheme delivery model, Antyodaya SARAL portal aims to transform citizen service delivery in Haryana through complete digitisation of over 380+ services. The vision for the Antyodaya SARAL portal is a unified platform to deliver and track Government to Citizen (G2C) services and schemes across the state. Antyodaya SARAL Portal Features Government have digitized 485+ services (220+ schemes and 260+ services) and made it available for citizens Provides convenience of application for various certificates from various government departments Citizens of Haryana can track the progress of various applications through this portal Performance of various departments can be live tracked Provide timely delivery of services Provide transparency into the Government departments Removes middle-man and helps in reducing the corruption Components of the Antyodaya-SARAL Portal Antyodaya-SARAL Portal: A Single Service Delivery Portal for Citizens Ability to avail services and schemes from anywhere at any time Live to track the status of service requests Timely delivery of services and schemes Complete digitisation of citizen services Antyodaya-SARAL Dashboard: A Service Delivery Accountability Portal for Department Review departments based on the performance (Based on RTS compliance, customer rating and delays) State-wise and District-wise view of department performance Escalation to officers on pending file requests It would help in the process of re-engineering services and schemes that are not performing well. The Haryana Right to Service (RTS) Act An eligible person will make a duly filled in application to the Designated Person for obtaining any service. The Designated Officer will provide the service to the qualified person or reject the application within a notified time limit and in case of rejection of the application, will record the reasons and intimate the same to the applicant. The disclosed time limit shall start from the date when the Designated Officer receives a requisite complete request for the notified service, or a person subordinate to him authorised to receive the application. Such an application shall be duly acknowledged. Any eligible person can file an appeal to the higher authorities in case he faces rejection without a satisfactory reason or if the notified timeline is not followed Haryana Right to Service Commission has been constituted to guarantee the right to service under this Act. Antyodaya SARAL Portal Services Haryana Antyodaya SARAL Portal Popular Services are explained in detail below: Income Certificate (Revenue) Old Age Samman Allowance (Social Justice and Empowerment) Resident Certificate (Revenue) Application for New Electricity Connection(U/DHBVN) Dealer Point Registration (Transport) The issue of the New Ration Card (Food and Supplies) Micro-Nutrient Fertiliser (Agriculture) Dr Ambedkar Medhavi Chattar Yojna (Welfare of SCBC) Bicycle Scheme (BOCW – Labour) Marriage Registration (Urban Local Bodies) User Registration in Antyodaya SARAL Portal The procedure for registering in the Antyodaya SARAL Portal is explained in detail below: Step 1: Access the home page of Antyodaya SARAL Portal; if you are a new user click on register here option. The link will redirect to a new page. Step 2: Provide the following details for user registration in the Antyodaya SARAL Portal. Full Name Email Id Mobile Number Enter Mobile Number Password Enter Password State Step 3: After providing details, click on the validate button. You will receive an SMS and email regarding the user credential. Using this user credential, you can log in to the portal. Step 4: After registering with the Antyodaya SARAL Portal, the applicant can log in to the portal for proceeding with the required application. Step 5: The applicant after providing all the details has to submit the application form. On successful submission of Antyodaya SARAL Portal, the application ID will be generated. Step 6: The applicant has to note down the application reference ID to track the status of the application. Check Status of Application The applicant has to follow the below-mentioned steps to check the application status. From the home page of Antyodaya SARAL Portal, the applicant needs to click on Track option. A small window will be displayed select the department and service from the drop-down menu. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major

XBRL stands for eXtensible Business Reporting Language. XBRL is a freely available electronic standard communication software developed to exchange business reports around the world. XBRL is the language of electronic communication of business and financial data that transforms business reporting around the world. It offers great benefits in the preparation, analysis and communication of business information. It provides cost savings, high efficiency and improved accuracy and reliability for all those involved in providing or using financial data. XBRL stands for eXtensible Business Reporting Language. Meaning of XBRL XBRL is an international standard for digital business reporting, operated by a global Non-Profit Organization, XBRL International, committed to improving reporting in the public interest. XBRL is used worldwide, in more than 50 countries. Millions of XBRL documents are created every year, instead of old, paper reports with more useful, more efficient, and more accurate digital versions.In short, XBRL provides a language in which reporting terms can be defined by authorization. Those terms may be used to represent exclusively the contents of financial statements or other forms of compliance, performance and business reports. XBRL allows reporting information to flow between organizations quickly, accurately and digitally. The transition from paper-based reports, PDF and HTML to XBRL is a bit like the transition from film photography to digital photography, or from paper maps to digital maps. Why XBRL is Important? XBRL supports the preparation, scrutinisation, and transmission of business reports in an effective manner. Not only does XBRL improve efficiency and accuracy of financial data but also lowers the cost involved in the communication of business information. The use of XBRL has been rapidly increasing over the years with various organisations around the world, implementing the software to communicate their financial and business reports.XBRL offers a wide range of benefits across all the phases of business analysis and data communication. Reduced costs, accurate and reliable communication of data, and automation, among others are some of the major benefits XBRL offer. The following points will emphasize the importance of XBRL – It makes business reporting digital, which is why it makes it more transparent. It is used for communication between businesses and users of financial information Better information, ratings, and general customer performance reviews benefit the bank and customer alike The best investment options can be selected with XBRL approval XBRL will determine the future of the input, process and output of financial information Purpose of XBRL People who publish the reports do so with the assurance that the information contained in it may be used and accurately analysed. People who use reports to test it against a set of business and sensible rules, to capture and avoid errors in their source. People who use the knowledge to do so in a way that best suits their needs, including the use of different languages, other forms of money and the style they prefer. People who use the information to do so make sure that the data they are given comply with the set of definitions described earlier. Complete descriptions and accurate data tag allows to: To prepare Confirmation Publication Exchange Use Analysis Of business information of all kinds. The information in the reports prepared using the XBRL standard varies between different information systems in completely different organizations. This allows for the exchange of business information throughout the reporting series. People, who want to report information, share information, publish work information and allow for direct processing of information all rely on XBRL. Advantages of XBRL Automation function Cost Reduction Improved Data Accuracy Familiarity with all countries Savings Standards Very Reliable and Fast Making financial statements more useful Easy Data Comparison XBRL is a versatile language that may be used to cover all elements of reporting in a variety of nations and industries. We may customise it to match unique business demands, even at the level of individual businesses, due to its extensible nature. Therefore, it can be said that XBRL technology leads to the trade of additional information that can be automated by use. This one-size-fits-all approach ensures the accuracy of all Financial Data for end users and early corporate transaction decisions. Documents required in XBRL Purposes The following documents need to be completed in XBRL format: Balance Sheet in excel format Profit and Loss Statement excel format Statement Cash Flow Statement in excel format Annual Report on word Files Related Group chart Last Year’s Chart Properties Sample file / PDF format XBRL filing procedure for Financial Statements he method for filing financial statements in XBRL format is as follows: Create an XBRL instance You may obtain an XBRL validation tool from the MCA webpage. Use that tool to verify documents, for example. You may also use the tool to perform a preliminary review of a legitimate sample document. Link the instance to the AOC-4 XBRL E-Form as well. Fill up and submit the E-Form AOC-4 XBRL on the MCA site. Penalties for failing to file XBRL financial statements If a company fails to file its financial statements with the Registrar by the deadline (i.e. 30 days), it will be fined ten thousand rupees, with an additional penalty of one hundred rupees per day if the delay persists, up to a maximum of two Lakh rupees. The company’s Managing Director and Chief Financial Officer, if any, and, in the absence of the Managing Director and Chief Financial Officer, any other director charged by the Board with compliance with the provisions of this section, and, in the absence of any such director, all the company’s directors, shall be liable to a penalty of 10,000 Rupees, with a further penalty of 100 Rupees in case of repeated failure. FAQs Q: What is XBRL, and what does it stand for? XBRL stands for eXtensible Business Reporting Language. It is a standardized language for the electronic communication of business and financial data. XBRL is designed to improve the accuracy and reliability of financial reporting by using a standardized format for exchanging financial information. Q: How does XBRL enhance transparency in financial reporting? XBRL enhances transparency by providing a standardized

In India, new technological developments are making a high impact on the quantity and the quality of the products, but the fact is that the consumers are still the victim of fraudulent practices. Therefore, the Consumer Protection Act,2019 comes in to force from 20 July, with its salient features including the establishment of the Central Consumer Protection Authority (CCPA) to promote, protect and enforce the rights of consumers. The Consumer Protection Act, 2019 replaced the old Consumer Protection Act, 1986. The new bill was passed by the president on Aug 06, 2019. Consumer protection is the practice of safeguarding buyers of goods and services against unfair practices in the market. It refers to the steps adopted for the protection of consumers from corrupt and unscrupulous malpractices by the sellers, manufacturers, service providers, etc. and to provide remedies in case their rights as a consumer have been violated. Meaning of Consumer Protection Act, 2019 Consumer Protection Act, 2019 is a law to protect the interests of the consumers. This act was inevitable to resolve a large number of pending consumer complaints in consumer courts across the country. It has ways and means to solve the consumer grievances speedily. The basic aim of the Consumer Protection Act, 2019 to save the rights of the consumers by establishing authorities for timely and effective administration and settlement of consumers’ disputes. Meaning of the word ‘consumer’ A particular person who purchases the goods or the services for his or her personal use not for the resale or manufacturing the goods or the services is called a “Consumer”. A consumer has the right to decide whether to purchase the product or not to purchase the product. A consumer is an individual or group of individuals who purchase goods and services for their own personal use and not for the purpose of manufacturing or resale. Section 2(7) of the Consumer Protection Act, 2019 defines a consumer as any person who buys goods or services in exchange for consideration and utilises such goods and services for personal use and for the purpose of resale or commercial use. In the explanation of the definition of consumer, it has been distinctly stated that the term ‘buys any goods’ and ‘hires or avails any services’ also includes all online transactions conducted through electronic means or direct selling or teleshopping or multi-level marketing. Other Laws Regarding Consumers in India A consumer is a priority in Indian democracy. Indian democracy can’t withstand if the consumer is being cheated in any manner. Various legislations that govern the consumer laws in India, which you must know: The Drugs (Control) Act, 1950. The Prevention of Food Adulteration Act, 1954. The Essential Commodities Act, 1955. The Consumer Protection Act, 1986. The Bureau of Indian Standards Act, 1986. The Monopolies and the Restrictive Trade Practices Act, 1969. Need for the Consumer Protection Act, 2019 The Consumer Protection Act, 2019 was enacted by the Indian legislature to deal with matters relating to violation of consumer’s rights, unfair trade practices, misleading advertisements, and all those circumstances which are prejudicial to the consumer’s rights. The intention of the Parliament behind enacting the Act was to include provisions for e-consumers due to the development of technology, buying and selling of goods and services online have considerably increased during the last few years. The Act seeks to provide better protection of the rights and interests of the consumers by establishing Consumer Protection Councils to settle disputes in case any dispute arises and to provide adequate compensation to the consumers in case their rights have been infringed. It further provides speedy and effective disposal of consumer complaints through alternate dispute resolution mechanisms. The Act also promotes consumer education in order to educate the consumer about their rights, responsibilities and also redressing their grievances. Key features of the Consumer Protection Act, 2019 Establishment of Central Consumer Protection Authority: The New Act will establish a new regulatory authority known as the Central Consumer Protection Authority (“Central Authority”), which will have wide powers of investigation including the power of search and seizure. The CCPA will have an investigation wing, headed by a Director-General, which may conduct inquiry or investigation into violation of consumer rights or unfair trade practices (much like the MRTP Commission under erstwhile Monopolies and Restrictive Trade Practices Act, 1969 that had powers to investigate monopolistic or restrictive trade practice). The Central Authority has been granted wide powers to take suo-moto actions, recall products, order reimbursement of the price of goods/services and file class-action suits if a consumer complaint affects more than 1 (one) individual. Product Liability: A manufacturer or product service provider or product seller will be held responsible to compensate for injury or damage caused by defective product or deficiency in services. The basis for product liability action are as follows: Manufacturing defect. Design defect. Deviation from manufacturing specifications. Not conforming to express warranty. Failing to contain adequate instructions for correct use. Service provided-faulty, imperfect or deficient. Unfair Contracts: Following international jurisprudence, the New Act introduces a unique provision that safeguards consumers against unfair contracts by declaring them to be illegal. An unfair contract covers contracts between manufacturer/ trader and a consumer that causes significant changes in the rights of the consumer that the New Act explicitly recognizes, such as by way of – imposing unreasonable obligation or condition on the consumer which puts consumer to disadvantage; reserving right to unilateral termination (without reasonable cause) or assignment without consent (which is to the detriment of the consumer) in the contract; imposing a penalty for breach which is disproportionate to loss caused etc. Unfair Trade Practices: The New Act introduces a broader definition of Unfair Trade Practices, which also includes sharing of personal information given by the consumer in confidence, unless such disclosure is made in accordance with the provisions of any other law. The New Act empowers the Central Authority and Consumer Commission (i.e. the judicial fora) to order the perpetrator of such practice to discontinue it. Penalties for Misleading Advertisement: The New Act introduces, for the first time, a definition of misleading advertisement. It covers false description

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

A trademark search is a vital tool in your business’s marketing arsenal. This process enables you to identify trademarks already used within the market and gain insights into them. Moreover, it helps you ascertain if someone is attempting to register a trademark that might infringe upon your brand name or other brand-related identifiers. Here, we will delve into the importance of trademark searches and how to conduct them effectively. A trademark search is an important tool in your business’s marketing arsenal. A tm search can help you identify trademarks that are already being used on the market and find out more about them. It can also help you find out if someone else is trying to register a trademark that could potentially infringe on your brand name search or other brand-related identifiers. Trademarks A trademark represents a unique word, design, or symbol that sets a product or service apart from others in the market. It forms an integral part of intellectual property rights (IPR). According to Section 2(zb) of The Trademarks Act 1999, a trademark is a mark that can be visually represented and distinguishes the goods or services of one person from those of others. This comprehensive definition encompasses various elements, including product shapes, packaging, and combinations of colors. Benefits of Conducting Trademark Search Avoiding legal problems: It helps you find existing trademarks to avoid conflicts. Protecting your investment: Ensures your chosen trademark can be registered. Building trust: Registered trademarks boost customer confidence. Expanding your business: Opens doors to growth and partnerships. Avoiding application rejection: Reduces the risk of trademark office refusals. Secure marketing efforts: Allows confident marketing without legal worries. Preventing infringement: Gives you the legal right to stop others from using a similar mark. Gaining customer trust: Shows commitment to quality and compliance. Facilitating global expansion: Eases the process of international trademark protection. The Purpose of a Trademark Search Search involves conducting a thorough analysis of your brand name, logo, design, and other identifiers. This information is then compared against various databases containing registered trademarks. These trademarks are entered into the database by their registrants. If another party attempts to register a version of your brand identity or a similar mark Considerations for Conducting a Trademark Search Availability Legal Jurisdiction Ensure that you are conducting your trademark search within the correct legal jurisdiction. In India, the Indian Trademark Registry is the governmental agency responsible for registering trademarks and copyrights. If you are also filing for a trademark in another country, it’s advisable to search through that country’s trademark office as well. Type of Trademark Determine the type of trademark you are searching for. Is it a word, a symbol, a design, or another identifier? Understanding the nature of your trademark is crucial before initiating the search. Differentiate Between Goods and Services Consider differentiating between goods and services when conducting trademark searches. Some marks are exclusive to specific types of goods (e.g., “Jaguar” for cars), while others are more suitable for services (e.g., “Bose” for headphones). While finding a trademark for service-based goods may be more challenging, conducting a thorough search is essential and considering submitting an application if needed. Required Information for Application Ensure that all necessary information is included when applying for trademark registration. This typically includes the full name and address of the applicant, as well as the date of the application. How to Conduct a Trademark Search Begin with a keyword search using terms or phrases related to your brand or product that you suspect might be similar to existing trademarks. If the name you enter doesn’t yield any matches within your search parameters, proceed to the next step. To determine if the name is on file with the trademark registry, visit the Indian government’s trademark registry or perform an IP India Public Search. These databases often provide insights into whether another company has filed for protection of their brand name in a manner that could affect your use of yours. FAQs Q: What is a trademark search? A trademark search is a process of checking existing trademarks to determine if a proposed mark is already in use or registered. It helps businesses avoid potential conflicts and legal issues before applying for a new trademark. Q: Why is a trademark search important? A trademark search is crucial to ensure that the chosen mark is unique and does not infringe on the rights of existing trademarks. It helps avoid legal disputes, rejection of the trademark application, and potential financial losses. Q: When should I conduct a trademark search? It is advisable to conduct a trademark search before finalizing and adopting a new trademark. Early searches can prevent investing time and resources in a mark that may face legal challenges later. 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India has continuously been experimenting with various measures to curb the effects of rising inflation in the country. Food is the commodity that gets hit the most, and this often has a direct impact on the economy itself. Therefore, Dearness Allowance/ DA comes in to play a vital role in protecting the everyday lives of citizens from the adverse effects of the rising prices. Earlier, Dearness Allowance was offered by the Government of India to its employees when demands for wage revision was raised. However, over time, it was linked to the Consumer Price Index. All public sector employers pay basic salaries to their employees according to the respective pay scale. Several other components are then calculated added in respect to the basic salary and are then added to it to calculate the take-home amount.  What is Dearness Allowance? Dearness Allowance is paid by the government to its employees as well as a pensioner to offset the impact of inflation. The effective salary of government employees requires constant enhancement to help them cope up with the increasing prices. Despite several measures by the government to control the rate of inflation, only partial success has been achieved because the prices move according to the market.  It, therefore, becomes essential for the government to shield its employees from the adverse effects of inflation. As the impact of inflation varies according to the location of the employee, dearness allowance is calculated accordingly. Thus, DA varies from employee to employee based on their presence in the urban, semi-urban or rural sector. The salaries received by employees in the Public Sector is divided into various components. One of these components is the Dearness Allowance. The Government pays DA to its employees in order to offset the impact of inflation. This would include pensioners as well. Constant enhancement is essential for the effective salaries of Government employees in order to help them to keep up with the rising prices. Calculation of Dearness Allowance Dearness Allowance is provided to employees in order to protect them against the rise in prices in a financial year. Since 1996, Dearness Allowance has been included to compensate for the increase in costs/ inflation in a particular financial year. Every year, it is calculated twice, once in January and then, in July. The current calculation of Dearness Allowance is executed using the formula that the Government established in the year of 2006. Dearness Allowance is calculated accordingly: For Central Government Employees DA% = [(Average of AICPI (Base Year 2001 = 100) for the last 12 months – 115.76)/115.76] x 100  For Public Sector Employees DA% = [(Average of AICPI (Base Year 2001 = 100) for the last 3 months – 126.33)/126.33] x 100 Here, AICPI means All-India Consumer Price Index. Treatment of Dearness Allowance under Income Tax As per the latest updates, DA is fully taxable for salaried employees. If the employee has been provided with an unfurnished rent-free accommodation, it becomes that part of the salary up to which it forms the retirement benefit salary of the employee, provided that all other pre-conditions are met. The Income Tax rules in India require the dearness allowance component to be mentioned separately in the returns that have been filed. DA for Pensioners Every time a new pay structure is rolled out by a salary commission, the pension for retired public sector employees is revised too. Same goes for Dearness Allowance. Every time the Dearness Allowance is increased by a certain percentage, the same change is also reflected in the pensions received by the retired public sector employees. This applies to both regular pension and family pension as well. Pensioners, in this case, are those retired employees of the central government who are eligible for either the individual or family pension from the government. Every time the Pay Commission rolls out a new salary structure, the change is also reflected in the pension of the retired employee. Likewise, if the Dearness Allowance is changed by a particular percentage, the pension of the retired personnel is revised accordingly. Pensioners cannot get DA when re-employed, and DA is granted on a time scale or fixed pay. However, pensioners can sometimes get DA when they are re-employed, limited to their last drawn pay. DA is not paid to pensioners when they reside in a foreign country during re-employment. But pensioners residing abroad without being re-employed are eligible to get DA on their pension. Types of Dearness Allowance Industrial Dearness Allowance (IDA) applies to the Public sector employees of Central Government. The Industrial Dearness Allowance for public sector employees undergoes quarterly revision depending on the Consumer Price Index to help offset the impact of rising levels of inflation. Variable Dearness Allowance (VDA) applies to the employees of the Central Government. It is revised every six months according to the Consumer Price Index to help offset the impact of rising levels of inflation. VDA in itself is dependent on three different components as given below. Base Index – remains fixed for a particular period. Consumer Price Index – impacts VDA as it changes every month. Variable DA amount that has been fixed by the Government remains fixed unless the government revises the basic minimum wages. Dearness Allowance vs House Rent Allowance Dearness Allowance is estimated as a particular percentage of an employee’s basic salary. This is then added to the basic salary along with various other components such as House Rent Allowance/ HRA to make up the total salary of a Government Sector employee. House Rent Allowance/ HRA is the salary component provided to an employee by their employer to meet the expenses with respect to the accommodation. This allowance applies to both the employees of the Private Sector and the Public Sector as well. On the other hand, DA applies primarily to Government employees or the employees working in the Public Sector. Dearness Allowance Merger Ever since the revision of the calculation formula, the DA for public sector and central government employees has been consistently rising. Presently, it stands at 50% of the basic salary.