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Yamaha Dealership

Yamaha Dealership

Yamaha, widely known for world-class products and services, established itself as a global brand for high-quality products and services. It made its foray into the Indian market in 1985 as a joint venture. The company’s manufacturing plants are situated in Faridabad (Haryana), Surajpur (Uttar Pradesh), and Kanchipuram (Tamil Nadu). The infrastructure of these plants supports the production of two-wheelers and its parts for the domestic, as well as the overseas markets. It is highly customer-driven and has a country-wide network of over 2,200 customer touch-points that includes 500 dealers. Dealership Support Yamaha has designed various support groups to advise and guide new entrepreneurs in the business regarding the details of running a dealership. This training and support initiative includes providing knowledge of the brand, stock, and queries. The company also offers marketing support for local and regional advertising to help dealers launch their business in the market and gain immediate profits. The brand also ensures to provide help in selecting a site for the showrooms and includes field assistance as well. Proper training is given to all the crew members and technical workshop staff. It is also given to the sales team concerning product features, customer handling and sales process. The brand offers operational support for the dealership. Technical knowledge and administrative assistance are also offered to the dealer during the term of the agreement. Current IT systems will be a part of the dealership. Dealership Details Area Requirement Yamaha service centre requires a lounge for the customers, a working area, a parking area for bikes, space for display bikes, an office and other related stock. To include all these facilities, the space should be a minimum area of 3000 – 4000 square feet. Cost and investment The cost of starting a Yamaha Dealership is based on the location of the centre. Apart from the variation in land value, the investment amount required to start a dealership will be from INR 50 Lakhs to 70 lakhs. Application Procedure for Yamaha Dealership Step 1: Official Website The applicant should log onto the official Yamaha page. Step 2: Franchise Registration Select ‘Contact Us’ option which is available on the home page of the portal. Step 3: Application Form On the next page, choose “Become a Yamaha Dealer ” option. The application form for the dealership will open up on the screen. Step 4: Complete the Details and Submit Fill up the online dealership application form with the required details and complete the registration. FAQs Do I need to have prior experience in the motorcycle industry to become a Yamaha dealer? While prior experience in the motorcycle or automotive industry can be beneficial, it is not always a strict requirement. Yamaha values a strong business plan and commitment to customer service. What is a Yamaha dealership? A Yamaha dealership is an authorized retail outlet that sells Yamaha products, including motorcycles, ATVs, marine products, and other related accessories. Dealerships also provide servicing and support for these products.

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Repo Rate

repo rate

The Monetary Policy Committee (MPC) announced on 8 June 2023 that the repo rate was increased by 25 basis points. This makes the current repo rate 6.50%  as of September 18, 2024.  (from the 6.25% that it was earlier). The reverse repo rate stands unchanged at 3.35%.The Bank Rate and the Marginal Standing Facility (MSF) rate has changed to 6.75%.The Standing Deposit Facility Rate is 6.25%. Repo Rate The Repo Rate is the interest rate at which the Reserve Bank of India (RBI) loans money to commercial banks. Repo Rate full form is Repurchase Agreement or Repurchasing Option. Banks obtain loans from the Reserve Bank of India (RBI) by selling qualifying securities. The central bank or RBI and the commercial bank would reach an agreement to repurchase the securities at a set price. When banks are short on funds or need to maintain liquidity under volatile market conditions, this is done. The repo rate is utilized by the RBI to manage inflation. How Does Repo Rate Work? As previously stated, the repo rate is utilized by the Indian central bank to restrict the flow of money in the market. When the market is impacted by inflation, the RBI raises the repo rate. An increased repo rate means that banks borrowing money from the central bank during this period will have to pay more interest. This inhibits banks from borrowing money, reducing the amount of money in the market and helping to negate inflation. In the event of a recession, RBI repo rates are also reduced. What is BPS or Basis Point? Basis points, also referred to as “bps” are a unit of measurement used in finance to express the rate of change in an index or other benchmark or the percentage change in the value of financial instruments. In decimal notation, one basis point is equal to 0.0001 or 0.01% (1/100th of a percent). Current Repo Rate in India The current Repo Rate in India has been fixed at 6.50% as per the announcement made by the government on 8th August 2024. Reserve Bank of India Repo Rate These are the latest Repo Rate and Reverse Repo Rate- Repo Rate Today 6.50% Reverse Repo Rate 3.35% Bank Rate 5.15% Marginal Standing Facility Rate 6.75% Historical Repo Rates from 2024 to 2010 Period – Date Effective from Repo Rates 8th August 2024 6.50% 7th June 2024 6.50% 8th February 2024 6.50% 8th December 2023 6.50% 8th June 2023 6.50% 8 February 2023 6.50% 7 December 2022 6.25% 30 September 2022 5.90% 05 August 2022 5.40% 08 June 2022 4.90% May 2022 4.40% 09 October 2020 4.00% 06 August 2020 4.00% 22 May 2020 4.00% 27 March 2020 4.00% 06 February 2020 5.00% 07 August 2019 5.00% 06 June 2019 6.00% 04 April 2019 6.00% 07 February 2019 6.00% 01 August 2018 7.00% 06 June 2018 6.00% 02 August 2017 6.00% 04 October 2016 6.00% 05 April 2016 7.00% 29 September 2015 7.00% 02 June 2015 7.00% 04 March 2015 8.00% 15 January 2015 8.00% 28 January 2014 8.00% 29 October 2013 7.75% 20 September 2013 7.50% 03 May 2013 7.25% 17 March 2011 6.75% 25 January 2011 6.50% 02 November 2010 6.25% FAQs What is the difference between repo rate and reverse repo rate? The RBI charges a repo rate on the money it lends to commercial banks and other financial institutions while the interest rate that the central bank offers to commercial banks that deposit money in the RBI is the reverse repo rate.Reverse repo rate is never greater than repo rate.Repo rates assist in reducing market inflation.On the other hand,the reverse repo rate aids in regulating the amount of money available in the market. What types of loans are impacted by the reduction or increase in repo rates? A reduction or increase in the repo rate will affect loans like personal,vehicle,home,and gold loans.

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CIN Number Meaning

cin number meaning

Corporate Identification Number or Corporate Identity Number (CIN) is a 21-digit alpha-numeric number provided to all Private Limited Companies (PLCs), One Person Companies (OPCs), Companies owned by the Government of India, State Government Companies, Not-for-Profit, National Initiative for Developing and Harnessing Innovations (NIDHI) Companies, etc. registered in India. CIN number is a unique identification number that is given by the Registrar Of Companies (ROC) of various states under the Ministry of Corporate Affairs (MCA). CIN number is assigned to companies registered in India by the ROC located in states across the nation. CIN number is used to track all the activities of an enterprise after its registration by the ROC. This number contains the identity of an organization and additional information regarding the registered company under the ROC. The company’s information can be accessed using a 21-digit alphanumeric unique identification number by the ROC. What is Corporate Identification Number (CIN)? Corporate Identification Number (CIN) is a 21 digits alpha-numeric code issued to companies incorporated within the country on being registered by the ROC situated in different states across India under the MCA. CIN is provided to all companies registered in India, which include: Private Limited Companies (PLCs)  One Person Companies (OPCs)  Companies owned by the Government of India State Government Companies  Not-for-Profit Section 8 Company Nidhi Companies, etc.  However, CIN is not given to the Limited Liability Partnerships (LLP) registered in India. For the LLPs, the ROC gives the LLPIN (Limited Liability Partnership Identification Number) that acts as a unique 7-digit identification number of the LLP.  Breaking down Corporate Identification Number U   12345   DL   2020   PLC   098765 U: Listing Status 12345: Industry Code DL: State Code 2020: Incorporation Year PLC: Ownership 098765: Registration Number The first section signifies the listing status of the company. If the company is listed then the alphabet will be ‘L’ and if unlisted the status will be ‘U’. The next section or 5 digits represents the industry code. The company doing business in any industry is assigned a unique industry code by ROC. The next two digits denote the State Code where the company has been registered under the Registrar of Companies with its registered office being a specified state. After the state code appears the year of incorporation of the company which uses 4 extra digits in the CIN number. The next three digits signify the type of the company being Private or Limited Company, Government of India, Not-for-profit, One Person Company, or Company of State Government. The final 6 digits represent the RoC code of the company and all these elements combine to form a 21 digit unique CIN number. Importance of Corporate Identification Number CIN is used for tracking all the aspects and activities of a company from its incorporation by the ROC and is required to be provided on all the transactions with the respective ROC. The 21 digit CIN has its own meaning which is easily translatable and which helps in finding basic information relating to a company. It is used for finding the primary details of the companies which are registered within the country under MCA. CIN is a unique number that can be used for identifying or tracking companies for several levels of information that ROC / MCA holds. The CIN contains the identity of an organisation and additional information regarding the registered company under the ROC Abbreviations in CIN number FLC: Financial Lease Company as Public Limited FTC: Subsidiary of a Foreign Company as Private Limited Company GAP: General Association Public GAT: General Association Private GOI: Companies owned by the Government of India NPL: Not-for-Profit License Company (Section 8 Company) OPC: One Person Company PLC: Public Limited Company PTC: Private Limited Company SGC: Companies owned by State Government ULL: Public Limited Company with Unlimited Liability ULT: Private Company with Unlimited Liability Changing Corporate Identification Number Any change in the listing status of a company Any change in the location or change of state where the company’s registered office is situated Any change in the industry/sector to which a company belongs Usage of Corporate Incorporation Number On invoices, bills and receipts On notice On memos On letterheads Annual Reports and audits Every e-form submission on the MCA portal Company’s official publications Any other company publications Penalty for Non-compliance of Mentioning CIN In case the above-mentioned requirements aren’t adhered to, there’s a penalty of INR 1,000/day on the defaulting company and on its, every officer is in default, till such default continues. However, the maximum penalty for this default is limited to INR 1,00,000. FAQs How to apply for CIN? A CIN is an alphanumeric number allotted to the company on the date of its registration by the Registrar of Companies. The company’s CIN is mentioned in its Certificate of Incorporation. Thus, a CIN number is automatically allotted to the company when it is incorporated and approved by the Registrar of Companies. How can I find my company’s CIN number? Go to the MCA website. Click on the ‘MCA Services’ tab on the home page.  Click on the ‘Check CIN’ option from the drop-down list under the ‘Company Services’ option.  Select the ‘Search Based on Existing Company / LLP Name’ option. Type the company name under the ‘Existing Company’ option, enter the captcha code and click on the ‘Search’ button. The company’s CIN will be displayed.

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Haryana Road Tax

haryana road tax

Haryana is one of the leading Indian states in terms of rapid infrastructure development. The North Indian state has a vast network of at least30 National Highways,11 Expressways and several State Highways, keeping it well connected to its neighbouring states. The people of Haryana immensely benefit from the wide connectivity of roads to commute within and outside the state. However, all owners of motor vehicles in the state or vehicles of other states travelling in Haryana must pay road tax as per the Haryana Motor Vehicle Taxation Act, 2016. The Haryana road tax rates vary based on the vehicle type, size and capacity.  Haryana Road Tax It is mandatory for all vehicles, private or commercial, to pay road tax in Haryana. The taxes are generally collected as a one-time payment at the time of purchase and subsequent registration with RTO. The government uses the money to maintain road quality and ensure the safety of travellers. Haryana Road Tax Calculation The Haryana Department of Transport usually levies a one-time road tax as a certain percentage of the original vehicle cost. They may also charge a fixed amount for specific vehicle classes per the criteria. The tax rates vary based on different factors, including the type of vehicle, place of origin, purpose used, weight, size, engine capacity etc. The vehicle owners must pay the taxes before plying their motor on the road. Road Tax in Haryana for Two-Wheelers The tax rate levied on two-wheelers is based on their price for new vehicles and their value for vehicles transferred from another state. The rates are as follows: Vehicle Price Range One-Time Tax Rate on the Cost Up to Rs. 75,000 4% Above Rs. 75,000 up to Rs. 2 lacs 6% Above Rs. 2 lacs 8% A sidecar drawn by the above vehicles and invalid carriages Nil Road Tax in Haryana for Four-Wheelers Like two-wheelers, four-wheeler vehicles in Haryana are also taxed based on price. The Haryana road tax for car and other four-wheelers are as follows: Vehicle Price Range One-Time Tax Rate on the Cost Up to Rs. 6 lacs 5% Above Rs. 6 lacs up to Rs. 20 lacs 8% Above Rs. 20 lacs 10% Road Tax for Commercial Vehicles in Haryana The seating capacity determines the tax rate for commercial vehicles in Haryana. The RTO tax details are tabled below: Seating Capacity Excluding the Driver Tax Rates Up to three seats 2% of the vehicle cost (one-time tax) Four and above (three-wheelers) Rs. 600 per seat per year (payable quarterly) Four to Six seats (four-wheelers) Rs. 625 per seat per year (payable quarterly) Seven to Twelve seats (four-wheeler) Rs. 1450 per seat per year (payable quarterly) Road Tax for Other State Vehicles in Haryana All vehicles entering Haryana must pay road taxes. The rates depend on their seating capacity, as given below: Seating Capacity of the Vehicle (Excluding the Driver) Rate of Tax Up to Three seats Rs. 25 per day Four to Six Seats Rs. 100 per day Seven to Twelve seats Rs. 500 per day How to Pay Haryana Road Tax Online? Go to the official website of the Government of Haryana Transport Department Click on ‘Online Services for Citizens’ at the top-left corner. Select ‘Motor Vehicle Tax Related Online Services’ from the list of options. If your vehicle is registered in Haryana, select the ‘Click here to Pay Online Road Tax for State’ option. If registered in a different state, select the ‘Click here to Pay Online Road Tax for Other State’ option. Now, provide your vehicle-related details, such as your registration number, model number, year of purchase etc. Choose your preferred mode of payment (debit card/credit card or net banking) and make the payment. An online receipt will be generated after successful payment. Download and save the receipt for future reference. Penalty for Non-Payment of Road Tax in Haryana The Haryana Motor Vehicle Taxation Act makes it mandatory for all vehicle owners of Haryana to pay road tax. If a person liable to tax has not paid the tax due within the specified time, they shall be liable to pay a penalty of 0.5% of the tax due for each day of delay. Besides, a simple interest of 1.5% per month will also be charged on the total tax and penalty due for the delayed period. FAQs Which vehicles are exempted from road tax payment in Haryana? Any agricultural vehicles such as tractor, trailer, harvester, tiller, and other agricultural machinery are exempt from paying tax. This provision is to safeguard farmers and provide them with relief in payment of road tax. How can I check my road tax in Haryana?  Visit vahan.parivahan.gov website and select menu to “Know my Tax”. Now enter your vehicle details and check the road tax in Haryana.

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SEBI KYC Registration Agency

sebi kyc registration agency

Operating a mutual fund house is subject to stringent regulations. Activities must be conducted within the structure already in place and governed by the Securities and Exchange Board of India (SEBI). This involves adhering to the SEBI KYC guidelines. Identifying a customer before enrolling them as an investor under a particular fund is known as “Know Your Client” or KYC in the business. Financial Institutions & Intermediaries are required by KYC rules to collect and validate personal & contact info from their clients. Meaning of KYC Customer is a procedure in which a financial company verifies the identification of consumers and assesses their suitability, as well as the possibility of illegal objectives and actions. Money laundering is one of the most serious threats to a country’s economy. The government and financial institutions are constantly on the lookout for such unlawful activity. KYC requirements for banking or financial transactions are an excellent technique to prevent this. Necessity of KYC KYC’s major goal is to ensure that deposits/investments are made in the name of a real person. It also aids in the reduction of black money. As a result, all mutual fund investors must follow the KYC procedure through a KYC Registration Agency (KRA). KRA, a SEBI-registered firm, stores investor data in a single database to which all fund companies and intermediaries have access.  Most investors are familiar with the agencies CAMS, NSE, and KDMS. SEBI later announced a single Know Your Client methodology to ensure consistency and uniformity among SEBI-registered intermediaries. Portfolio managers, mutual fund firms, venture capital funds, and stockbrokers, among others, found it simple to prevent the duplication of KYC documents. This makes compliance easy for investors. Indian KYC Registration Agencies: SEBI KYC Guidelines KRA’s will continue to serve as the repository of KYC data in the securities market, and will be responsible for maintaining, preserving, and retrieving KYC papers and submitting them to the Board or any other statutory body as needed. KRA’s must independently check the records of clients (both existing and new) whose KYC has been completed using Aadhaar as an OVD. Clients who completed KYC using non-Aadhaar OVD would have their data confirmed only after getting their Aadhaar Number. Develop systems/mechanisms in cooperation with SEBI and in coordination with one another, and follow standard internal rules specifying components of KYC attribute identification and KYC validation procedures. Inform the appropriate RI’s as soon as possible of any deficiencies/inadequacies in the client’s KYC documentation. Following successful completion of KYC validation, KRA will provide the customer a unique client identification known as a KRA identifier, which the client may use to create an account with any other intermediary. KYC records of new clients (who have used Aadhaar as an OVD) must be approved by KRAs within two days of receipt. KYC records for all existing clients (who utilised Aadhaar as an OVD) must be confirmed within 180 days of July 1, 2022. KRAs must notify the customer of the KRA identification within two working days of receiving KYC records by letter or email, and save proof of delivery. For non-Aadhaar KYC OVD, the KRA shall only maintain such records, which will not be approved by KRAs unless the client provides an Aadhaar number. Validation of all KYC records (both new and current) will begin on July 1, 2022. Documents for KYC Identification Documentation: PAN card, driving licence, copy of passport, voter ID, Aadhaar card, or bank photo passbook Address Proof: Recent landline or mobile bill, power bill, passport copy, recent Demat account statement, most recent bank passbook, ration card, Voter ID, rental agreement, Driving License, or Aadhaar card Available KYC Procedures Offline Fill out the KYC application form available on the CDSL Ventures website.  Sign and deliver a physical copy of the document to the authorities or intermediaries you desire to invest in mutual funds through. Attach certified photocopies of ID and residency evidence, as well as a passport-size photo, to the form. Biometrics Based on Aadhar If you have an Aadhaar card, you can choose Aadhaar-based KYC. You may request that an official from the fund house or agency come to your location to collect the information. Send a copy of your Aadhaar card to the fund house, broker, or distributor, and they will map your fingerprints on their scanner and connect it to the Aadhaar database. Your information will be shown in the database if the fingerprint matches that in the database. This signifies that they verified your identity before proceeding with your mutual fund investment. Benefits of KYC Compliance The most major benefit of becoming KYC compliant is that you will never have to go through the KYC verification procedure again. It is a one-time process, and before you can invest in mutual funds in India, you must have completed your KYC verification. After being KYC compliant, you can invest in any mutual fund plan with any fund company. Being KYC compliant allows you to begin investing in mutual funds in just a few seconds. SEBI KYC Registration Agency (KRA) Regulations 2011 KYC Registration Agency (KRA) is a company formed and registered under the Companies Act, 2013, and which has been issued a certificate of registration under these rules, and which is hence regarded to be an intermediary under the Act’s requirements. KYC” refers to the method established by the Board for identifying and confirming Proof of Address, Proof of Identity, and conformity with rules, regulations, guidelines, and circulars published from time to time by the Board or any other body for the Prevention of Money Laundering. SR. No. Particular Content 1. Application Made to board in form specified under schedule II.    REQUIREMENTS-  ♦ Not include any mislead or false information, if any mislead information provided it shall be rejected provided opportunity of being heard granted. Before rejecting any application board may provide 30 day time period to remove any objections. FURNISHING OF INFORMATION, CLARIFICATION AND PERSONAL REPRESENTATION- If board require it may ask further clarification or information. CONSIDERATION OF APPLICATION FOR GRANT OF CERTIFICATE OF  REGISTRATION- Following conditions are to

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Excise Duty in India

Taxation plays a vital role in the economy and makes a significant contribution to it. In India, the tax structure encompasses different types of taxes and duties like excise duty. To streamline the process of paying taxes and claiming returns, it is essential for individuals whose income comes under a taxable bracket to become familiar with the different types of taxes and duties.  What is Excise Duty? Fundamentally, excise duty is a tax levied on domestically produced goods. Generally, it is charged on their production and sale and is also known as CENVAT or Central Value Added Tax. Central Excise duty is an indirect form of taxation and is collected from a customer by a retailer or an intermediary. It is paid when goods are transferred from the production unit to a warehouse.  This particular tax is governed by two sets of acts – Central Excise Act, 1944 and Central Excise Tariff Act, 1985. Ideally, the Central Board of Excise and Customs is responsible for the collection of excise duty.  With the introduction of GST, several indirect taxes have been subsumed, including excise tax. Nonetheless, it is still applicable to a few items like petroleum, liquor, etc.   Types of Excise Duty There are 3 distinct types of excise duty, namely – Basic Excise Duty This type of excise duty is levied on goods that come under schedule one of the Central Excise Tariff Act, 1985. It is imposed on all excisable goods except salt.  Additional Excise Duty It is a tax levied on all goods that are scheduled under Section 3 of the ‘Additional Duties of Excise Act’ of 1957. This tax collected is shared between the state and central government and is levied instead of sales tax.  Special Excise Duty This category of tax is levied on those goods listed under the Second Schedule of the Central Excise Tariff Act, 1985. One must note that individuals are exempted from paying taxes. However, such a benefit can be availed based on – Value of turnover in a given financial year. Raw materials used. Process involved.  When Should You Pay Excise Duty Excise duty must be paid at the time the items are removed. Assessees must pay excise duty on items manufactured or produced. Excise duty should be paid on the fifth day of the following month from the date the products were taken from the warehouse or factory for the purpose of sale, according to Rule no. 8 of the Central Excise (Amendment) Rules, 2002.  If excise duty is paid online through netbanking, the payment is due on the sixth day of the next month. If the payment is paid in March, it must be made by March 31. Who Should Pay Excise Duty? Manufacturers of goods. Entities who got the goods in question manufactured by hired labourers. Entities who have goods in question manufactured by other parties. Steps to Pay Excise Duty Step 1 – Go to EASIEST and select the option for e-payment. Step 2 – Enter the allotted Assessee number and verify it online. Step 3 – Provide details like – address, name and information related to the jurisdictional commissionerate among others. Step 4 – Navigate to the menu for tax-type and then choose the Codes for Excise. Step 5 – Once the accounting code is selected, proceed to select the financial institution through which one can make payment. Step 6 – Verify the information shared and then make requisite payments. Step 7 – With the help of user-ID and password, log in to the gateway for net banking. Step 8 – Enter the tax to be paid and the account for making payment. Step 9 – Once payment is made, a Challan Counterfoil will be generated.  Such a challan contains CIN which serves as a proof of payment. Step 10 – Use the Challan Status Inquiry feature to verify the payment status on EASIEST portal.  Penalty of Not Paying Excise Duty Excise tax or commit an infraction involving an excisable commodity, the duty chargeable on that product exceeds Rs.50 lakh, then the defaulter faces imprisonment for a term of up to 7 years.  A fine will also be levied against the defaulter. Depending on the circumstances, the sentence might be up to three years in prison, with or without a fine. Differences between GST and Excise Duty Parameters Excise duty GST Tax base This tax is levied on manufactured goods. It is implemented at the time of removal of goods from the production unit.  It is levied on goods and services. However, GST is levied at the time of supply of goods and services. Filing of returns Monthly or annual returns have to be filed before the 30th of April.  GST returns have to be filed monthly or quarterly. On the other hand, the annual return has to be filed prior to the 30th of September.  Rate of tax As per the norms of Central Excise Tariff – the current rate of excise duty is 12.36% (it, however, depends on the produced goods). As per GST norms, the rate of taxes are – 0%, 5%, 12%, 18% and 28%. Invoice matching  The concept of invoice matching does not exist under the purview of excise duty. The input tax credit can be claimed based on the self-assessed return filed by taxpayers. The input tax credit is given based on invoice matching.  Input tax credit  Taxpayers can avail credit on the tax that is levied on input products and services.   Input credit can be availed on both products and services. One must note that GST credit can be availed on IGST, SGST or CGST. Differences between Custom Duty and Excise Duty These pointers below highlight differences between custom duty and excise duty – Parameters  Excise Duty Custom Duty Place of manufacture  It is levied on goods that are produced in India. It is levied on goods that are sold in India but are produced in another country.  Payer The manufacturer of goods bears it. The importer of goods bears it.  FAQs Is CENVAT and excise duty same? No, CENVAT and excise duty are not the same. CENVAT

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TAN Number: A Comprehensive Guide for Taxpayers

TAN Number

The full form of TAN is Tax Deduction or Collection Account Number. Every person liable to deduct TDS or TCS must apply for TAN. As per section 203A, this 10-digit alphanumeric number must be quoted when you become liable to either Deduct or Collect tax (i.e., liable to deduct TDS or collect TCS), make payment through challan, or file TDS returns or issue a Tds certificate to the deductee. What is TAN? ax Deduction or Collection Account Number is referred to as TAN. The Income Tax Department provided the 10-digit alphanumeric number. TAN is available to everyone who collects or deducts tax at source (TCS and TDS). A TAN number, such as PDES03028F, is made up of four alphabets, five numbers, and one alphabet. It is structured as follows:   The city where TAN has been assigned is represented by the first three alphabets of TAN  The first letter of a person’s name is represented by the fourth character of TAN The last alphabet and all five of the numbers are automatically created characters by the algorithm.   Your TAN number is a requirement under Section 203A of the Income Tax Act of 1961 for all TDS returns. According to Indian law, TAN is necessary for tax compliance processes. All TDS and TCS forms, challans, payments, and certificates must include the TAN number. It is utilised for deductions such as salary, dividends, or interest. If this isn’t done, there would be a steep penalty of Rs. 10,000. Who Should Apply for TAN? TAN should be obtained by every person responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS). It is mandatory to quote TAN in all TCS or TDS transactions, including any e-TCS/TDS return, TDS/TCS payment challan and TDS/TCS certificates. Importance of TAN Number Any person required to obtain a TAN will face difficulty filing tax returns when he/she does not apply for it. Failure to quote the TAN number in returns or documents will result in a penalty of Rs.10,000. TAN should be quoted in the following documents: TCS or TDS statements/returns. Challans for TDS or TCS payments. Submission of TCS or TDS certificates. Collection or submission of a wide variety of IT-related forms. Structure of TAN The first four digits are letters – First three letters represent the jurisdiction where the TAN is issued. The fourth letter is initial of the entity or individual applying for the TAN. The next five digits are numerical – The numerical in the middle are unique numbers generated by the system.  The last digit is a letter at the end – The last one letter is a unique letter generated by the system. TAN Application Process There are two modes for applying for a TAN: Offline The applicant should fill and submit Form 49B (Form of application for allotment of tax deduction and collection account number) to any TIN-Facilitation Center (TIN-FC) of Protean with the required fees for allotment of TAN. An applicant can also download the TAN application from the NSDL website and submit the filled form along with the fees to the TIN-FC. In the case of an in-person TIN application, there is no need to furnish any supporting documents to the IT department. Online Applicants can apply online for TAN through the NSDL website. Applicants should read the instructions, fill the online form and submit it. After submission of the form online, they will receive the acknowledgement number. They must print the acknowledgement number and send it to the NSDL office at Pune. They can pay the required fees online or through a demand draft or cheque. Once the IT department receives the TAN application, they will verify the details and issue the TAN of the applicants to NSDL. The NSDL will send the TAN details to the applicant’s address provided in Form 49B or send an email with the TAN details. FAQs What is the TAN full form? he full form of TAN is Tax Deduction or Collection Account Number. It is required by specified persons who must deduct or collect tax as per the provisions of the income tax act in India. Is separate TAN required for TDS and TCS? No, a single TAN can be used both for TDS and TCS.

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Voter ID Status

voter id status

The Voter ID, or Voter Card or Electors Photo Identity Card (EPIC) is a very important document to have in the largest democracy of the world. One of the fundamental rights guaranteed by democracy is the right to vote. This right can be exercised through the Voter ID. The inception of Voter ID goes right back to the days of independence. After the Colonial British Rule Ended, elections were held. Before the first general elections could be held, the country needed a system to identify all the citizens who were eligible to vote. For this, the Election Commission of India brought to its citizens the voter card. What Is Voter ID, Voting ID, Voter Card, Voter ID Card, Election Card? The Election Commission ID is also known as the Voter’s ID in India. It is an important document that Indian citizens need in order to be able to vote.  These are unique components of the Voter ID: A serial number The voter’s photograph A state hologram  Name of the voter  Name of the voter’s father  Gender Card holder’s date of birth  The voter’s address  Signature of the issuing authority  Voter ID Eligibility The prerequisites to apply for a Voter ID are: You should be an Indian citizen You should be 18 years old or 18 years old as of January 1 of the year you’re planning to vote in. Are you a resident of the constituency you want to enrol in and vote in? If you have not been disqualified to be an elector. Documents Required For Voter ID Address Proof Passport  Utilities bill (gas, water)  Rental agreement  Ration card  Bank Passbook or statement  AADHAAR Card  Proof Of Age  10th Standard Certificate  Birth Certificate  PAN Card  AADHAAR Card  Driver’s Licence  Passport   Kisan Card  Proof of Identity PAN Card  Driver’s Licence  Ration Card  Passport Copy  Bank Passbook with Photograph  SSLC Certificate  Student ID Card  AADHAAR Card   How To Apply for Voter ID Online: Navigate to the Election Commission Website  Go to the Election Commission’s website Choose your state from the list  You will automatically go to the Chief Electoral Officer page of your state.  Log In Now, you will have to log in to the website.  If you’ve never been to this website, register as a new user. New users, fill out your name, email, phone number, and create your account Choose the Continue button Your login details will be sent to your email address  Log in with the username and password, and then change your password  After you log in, select “Form 6” or “Application for including name in assembly constituency voters list.” Fill Out the Application Enter all your personal details in the application form. Upload a passport-size colour photograph, and then “Submit” the firm and photograph. Verify Identity  After you submit the application, you will be asked to visit your closest voter ID centre. Go to the centre with your supporting documents, including identity proof and address proof. The Election Commission will send your new voter’s card within 1 week.  Download EPIC Card Go to the Election Commission website and select E-EPIC Download. You will be redirected to a login page, where you need to submit your EPIC card details. After submitting these details, you can download your card.    Offline or In-person: You can register for your Voter ID offline by following the steps mentioned below.  You can download and print a Form 6 application, or you can visit your local Election Commission office and get a Form 6 there. A Form 6 application is free at the Electoral Registration Officers/Assistant Electoral Registration Officers and Booth Level Officers offices.  Along with the application, you will need to submit photocopies of the required documents listed above in the required documents section. Submit the application and documents at the office of the Electoral Registration Officer/Assistant Electoral Registration Officer. Alternatively, you can mail in your application and required documents to the Booth Level Officer in your constituency.  FAQs What is the importance of a Voter ID? The voter ID is an essential document that every citizen of the country needs to exercise their right to vote and participate in the democratic process of elections. Who can apply for a Voter Card? Here are the eligibility criteria-  1- Citizens must be at least 18 years of age. 2- Residents of the constituency they want to enrol in. 3- Not be disqualified from applying for a Voter ID.

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Lost Aadhar Card

lost aadhar card

Aadhaar Card acts as proof of identity and proof of address. It is also important to avail various government-aided subsidies, opening a bank account, investing in fixed deposit, mutual funds, etc. However, it is imperative that you must not lose your Aadhaar card, but in case of loss or misplacement of Aadhaar card, you can get a duplicate Aadhaar card issued with ease. The duplicate card has the same card number and other details as the original card. Required Documents to Re-apply for Aadhar Card Proof of Identification:- An identity document includes Ration/PDS Photo Card, PAN Card, passport, driving license, etc. Proof of Address:- The address proof documents include bank account details/passbook, electricity bill, water bill, telephone bill, Property Tax receipt, Credit Card statement, etc. Proof of Date of Birth:- The documents accepted for the proof of date of birth includes Birth Certificate, Mark sheet issued by any Government Board or University, PAN card, etc. How to Get Duplicate e-Aadhaar Card Online Step 1: Go to the official UIDAI website i.e. https://resident.uidai.gov.in/lost-uideid Step 2: Choose either ‘Aadhaar No (UID)’ or ‘Enrolment No (EID)’ option Step 3: Input basic information like the name, email address or mobile number registered with UID Step 4: Type in the security code as displayed on the screen Step 5: Click on the ‘Send OTP’ button Step 6: An OTP will be sent to your registered email address or mobile number. Enter the OTP and click on the ‘Submit’ button. Once done, your Aadhaar Number will be sent to your registered email address or mobile number. A confirmation regarding the same will also appear on your screen How to Get Duplicate Aadhaar PVC Card Online? Step 1: Visit the official website of UIDAI and click on ‘Order Aadhaar PVC Card’ listed under the Get Aadhaar section Step 2: Enter your 12-digit Aadhaar Number or 28-digit EID along with the security code Step 3: Now, tick mark the check box if your mobile number is not registered with Aadhaar Card and fill in the non-registered mobile number. In case your mobile number is registered with Aadhaar, you can also login to myAadhaar (myaadhaar.uidai.gov.in) and request for a PVC card. Step 4: Click on the ‘Send OTP’. Step 5: Your OTP will be sent to the option as selected in the previous step. Enter the OTP and click on the ‘Submit’ button. Step 6: You can now preview the Aadhaar card details (only if your mobile number is registered with Aadhaar) Step 7: Make  payment either using UPI, net banking, debit card or credit card Step 8: After successful payment, you can download the payment slip Turnaround Time The processing time for the retrieval of lost Aadhar card will take 90 days after the initial request. FAQs Where do I visit to get forgotten Aadhar UID or EID offline? You need to visit Aadhar Seva Kendra to get forgotten Aadhar UID or EID offline. I don’t have a registered mobile number with Aadhar Card, can I get lost Aadhar online? Yes, you can definitely get your lost Aadhar online if you have your registered email ID.

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Trade Mark

Trade Mark

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

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