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Udyog Aadhaar, now known as Udyam Registration, is a 12-digit Unique Identification Number that facilitates registration for the small business sector and is a crucial initiative for Indian small and medium enterprises (SMEs) seeking growth and government support. It was issued by the Ministry of Micro, Small, and Medium Enterprises (MSMEs) of the Government of India in September 2015, and it facilitates a hassle-free, paperless online registration process. The reason behind Udyam registration is to boost the SMB sector in India. What’s New with Udyam Registration Mandatory Migration As of 2023, Udyog Aadhaar registrations are no longer valid. All businesses need to migrate to the Udyam platform, to continue enjoying the benefits. If the entrepreneurs fail to migrate to Udyam Registration, then UAM will not be valid, and they will be required to register again for Aadhaar Udyam Registration. Simplified Categories The new registration system classifies businesses into three categories (Micro, Small, and Medium) based on their annual turnover and investment. This simplifies the process and ensures accurate classification Enhanced Benefits Udyam registration unlocks a wider range of government schemes and benefits, including easier access to credit, subsidies, and tender participation Udyam registration for MSME As mentioned above, Udyam registration is the new process for registering micro, small and medium enterprises introduced by the Ministry of Micro, Small & Medium Enterprises (MSME) on 1st July 2020.     A permanent registration number will be issued to MSMEs after Registration. Udyam registration is vital for availing the various benefits of schemes or programs of the Ministry of MSME, such as the Credit Guarantee Scheme, public procurement policy, additional edge in Government Tenders and protection against delayed payments, etc. Key Benefits of Udyam Registration Hassle-free online registration: The process is completely online and free, requiring only your Aadhaar number and basic business details Multiple registrations: Entrepreneurs can now register multiple businesses under one Udyam number, simplifying management Self-declaration: No documents or proof are required beyond your Aadhaar, promoting transparency and ease Government tender preference:  Registered MSMEs get priority consideration for government tenders, increasing business opportunities Faster payment protection: Udyam registration helps secure protection against delayed payments from buyers Access to schemes: Unlock various government schemes and financial assistance programs Credibility enhancement: Udyam Registration acts as official proof of your business existence Documents Required Name of the Owner Category Name of Business  Type of Business Official Address Date of Commencement Details of Previous Organization (if any) Bank Details Number of employees National Industrial Classification Code (NIC) Amount invested in Plant & Machinery Details of Industry Centre (DIC) Udyam Registration Fees The Registration for MSMEs under Udyam Registration Portal is entirely online, and there is no fee for MSME registrations. It is free of cost. Udyam Registration Process Step 1: Visit the official Udyam Registration Portal Step 2: Enter the 12-digit Aadhaar no. and name of the entrepreneur Step 3: Click on ‘Validate’ and ‘Generate OTP’ Step 4: Enter the OTP received on the registered mobile number Step 5: Once the verification is successfully done, fill out the form with all the relevant details Step 6: Review the form and click on the ‘Submit’ button Step 7: Enter the OTP again received on the mobile number  Step 8: Click on ‘Submit’ once for the final submission FAQs Do I need to register again if I already have Udyog Aadhaar? Yes, all Udyog Aadhaar registrations became invalid in 2023. Migrating to the Udyam platform is crucial to continue enjoying the associated benefits. What are the key benefits of Udyam registration? Benefits include easier online registration, access to government schemes, faster payment protection, tender preference, and enhanced credibility.

The UAPA – an enhancement on the TADA (Terrorist and Disruptive Activities (Prevention) Act), which was allowed to lapse in 1995 and the Prevention of Terrorism Act (POTA) was repealed in 2004 — was originally passed in 1967 under the then Congress government led by former Prime Minister Indira Gandhi. Eventually, amendments were brought in under the successive United Progressive Alliance (UPA) governments in 2004, 2008 and 2013 Introduction The Unlawful Actions (Prevention) Act, 1967 (hereinafter ‘UAPA’) is designed to make illegal and terrorist activities that threaten India’s integrity and sovereignty, punishable by nature. It gives the Central Government, wide authority to designate organisations as terrorist organizations and to prescribe punishments for those who participate in such related activities. The Act was enacted to ease the process of prevention of certain illegal activities by persons and organisations, as well as matters related to them. The Act was amended by the Parliament in 2019 and the same was notified on August 8, 2019. The most notable alteration brought about by the amendment was that it changed Section 35 of the Act and provided the Central Government with the right to declare someone a ‘terrorist’ under Schedule IV. Individuals were not covered under the head of ‘terrorists’ prior to this amendment since only organisations were identified in that way. Salient Features of the UAPA Act The Act gives special procedures to handle terrorist activities, among other things. It aims at the effective prevention of unlawful activities associations in India. Unlawful activity refers to any action taken by an individual or association intended to disrupt the territorial integrity and sovereignty of India. Who may commit terrorism: According to the Act, the union government may proclaim or designate an organisation as a terrorist organisation if it: (i) commits or participates in acts of terrorism, (ii) prepares for terrorism, (iii) promotes terrorism, or (iv) is otherwise involved in terrorism. The Bill also empowers the government to designate individuals as terrorists on the same grounds.  UAPA has the death penalty and life imprisonment as the highest punishments. The Act assigns absolute power to the central government, by way of which if the Centre deems an activity as unlawful then it may, by way of an Official Gazette, declare it so. Under UAPA, both Indian and foreign nationals can be charged. The offenders will be charged in the same manner whether the act is performed in a foreign land, outside India. Approval for property seizure by National Investigation Agency (NIA): As per the Act, an investigating officer is required to obtain the prior approval of the Director-General of Police to seize properties that may be connected with terrorism. The Bill adds that if the investigation is conducted by an officer of the National Investigation Agency (NIA), the approval of the Director-General of NIA would be required for seizure of such property.  The investigation by the National Investigation Agency (NIA): Under the provisions of the Act, investigation of cases can be conducted by officers of the rank of Deputy Superintendent or Assistant Commissioner of Police or above. The Bill additionally empowers the officers of the NIA, of the rank of Inspector or above, to investigate cases.  Insertion to the schedule of treaties: The Act defines terrorist acts to include acts committed within the scope of any of the treaties listed in a schedule to the Act. The Schedule lists nine treaties, comprising of the Convention for the Suppression of Terrorist Bombings (1997), and the Convention against Taking of Hostages (1979). The Bill adds another treaty to this list namely, the International Convention for Suppression of Acts of Nuclear Terrorism (2005). Importance of UAPA, 1967 The Unlawful Acts (Prevention) Act, 1967 aims to prevent illegal activities in India. Its principal goal is to give authorities the power to deal with acts that threaten India’s integrity and sovereignty. The UAPA,1967 was enacted to make it easier to prevent certain illegal activities by persons and organisations, as well as matters related to them. UAPA was passed for the first time in 1967. The statute stems from a recommendation made by a committee created by the National Integration Council to look into the subject of ‘national integration and regionalization’ in order to impose ‘appropriate constraints.’ The Constitution (16th Amendment) Act of 1963 was passed in response to the committee’s findings, imposing reasonable restrictions on the exercise of some fundamental rights, including: Freedom of Speech and Expression. Right to assembly peacefully. Right to form associations and unions.  In order to enable the implementation of these restrictions, UAPA was introduced and enacted in the year 1967. Arguments in Favour of Amendments The objective of the proposed amendments is to facilitate speedy investigation and prosecution of terrorist offences and designating an individual as a terrorist in line with international practices.  The amendments will also allow the NIA probe cybercrimes and cases of human trafficking, sources aware of the proposal said Sunday.  Amendment to Schedule 4 of the Act, the NIA will be allowed to designate an individual suspected to have terror links as a terrorist. In the current scenario, before the amendment was made, only organisations were designated as ‘terrorist organisations’.  A strict law is of utmost necessity to strengthen the investigation agencies and to uproot terrorism from this country in this regard. Hon’ble Home Minister stated in Lok Sabha that law can not be misused against any individual, yet, those individuals who engage in terrorist activities against the security and sovereignty of India, including the urban Maoists, would not be spared by the investigating agencies either.  There are no changes to the bail or arrest provisions. Hence, it is evident that there will be no fundamental rights violation of anyone. Also, the burden of proof is on the investigating agency and not on the accused. The amendment about attaching properties amassed through proceeds of terrorism is being proposed in order to accelerate investigation in terror cases and is not against federal principles.  At present, Section 25 of the UAPA states that forfeiture of property acquired from terrorism can be done only with the prior approval given in writing by the DGPs of the state wherein lies such property. But the problem is

BOB was founded in 1908 in one of Gujarat’s towns, Baroda. Initially, a small financial enterprise, the Bank has grown to become one of the top names in the banking market. Bank of Baroda has always prioritized meeting its clients’ banking and financial needs. The Bank has always stayed ahead of the competition by implementing technology developments and innovations into its day-to-day operations. Bank of Baroda gives its clients a comprehensive range of banking and financial solutions. Opening a Current Account An individual has to obtain the prescribed account opening form from the bank. and submit the same after duly filling it. The necessary documents must be submitted to the bank at the time of opening the account. Every applicant has to sign the declaration form after agreeing with the terms of the Current Account. A recent passport size photograph of every proprietor/ partners/ account holder, office-bearers/ Directors of the company/ trustees and other officials to operate upon the account has to be given to the bank. The account has to be introduced by an existing current/ cash credit account holder who is active for a minimum of six months. Eligibility Sole Proprietorship Firms Partnership Firms Private Limited and Public Limited Companies Joint Hindu Families Trusts Clubs Minors above 14 years of age who can read and write Interest As per directives of the Reserve Bank of India (RBI), no interest has to be paid for maintaining the credit balance in the current account. Interest for Savings Bank will be paid on the credit balance of the deceased account holders from date of death till the date it is paid to the legal heirs. In scenarios where the sole proprietor is deceased, the interest will be rendered to the sole proprietary firm. Documents Required Identity proof – PAN card, voter ID card, passport, driving license. Address proof. Passport size photograph. PAN or Form 49 A with Form 60 (if applied for PAN). Account opening Cheque from existing Current Account. Current Account Options of the Bank Baroda Small Business Current Account (BSBCA) This account is specially designed for small businesses such as start-ups or mom-and-pop stores. The account can be opened by individuals, or proprietorship and partnership firms. Features This type of current account is based on the concept of ‘Pay as You Use’. Five Non-ADC transactions are free every month. A low Quarterly Average Balance requirement of Rs. 2,500. Transactions Transactions made with genuine purposes are allowed. Annual turnover permitted in the account is capped at Rs. 20 lakhs. The first five non-ADC transactions are free of cost, after which Rs.10 + S. tax will be charged per transaction for all non-ADC transactions routed through branches till the annual turnover reaches Rs 20 lakhs. If the annual turnover crosses Rs 20 lakhs, transaction charges are made at Rs 15+ S. tax per transaction will be levied. All ADC transactions are free irrespective of the number. Cash Deposit A sum of Rs. 50,000 or up to 10 packets can be deposited free of cost in a base branch and local non-base branch. A sum of Rs. 10 will be charged for every additional 1000 pieces (10 packets). There are no restrictions for cash deposit made in outstanding branches (if PAN is available). Cash deposits with a debit card are permitted up to a sum of Rs. 2,00,000 (if PAN is registered); deposits up to Rs. 49,999 can be made (if PAN is not registered). Minimum Balance Required The Minimum Quarterly Average Balance (QAB) requirement for this account is affixed at Rs. 2500. Non-maintenance of the Minimum QAB will warrant charges of Rs. 300 +ST per quarter. Withdrawals Cash can be withdrawn only through cheques and no cash withdrawals options are provided at the base branch. A total of five free transactions can be made in a month. Baroda Premium Current Account (BPCA) This current account provides unlimited checkbooks, free signature verification, discounts on demand draft and banker’s cheque facilities. Features Auto sweep / Reverse sweep feature. Waiver of processing charges on car loans. Unlimited issuance of chequebooks. Transaction Transactions made with genuine purposes are allowed. A ledger folio charge of Rs. 75 is levied on every 25 entries made on a quarterly basis. Cash Deposit The norms of cash deposit here is the same as that of Baroda Small Business Current Account. Minimum Balance Required A Minimum Quarterly Average Balance (QAB) of Rs. Rs 2,50,000 must be maintained in the account. Non-maintenance of Minimum QAB will incur a sum of Rs. 600 as a as well as transfer of funds outside the clearing area through cheservice charge, in addition to taxes. Withdrawals Withdrawals in this account can only be made through cheque. A sum of Rs. 50,000 per day can be withdrawn by an account holder in a day by self-cheque. Baroda Premium Current Account-Privilege This account is for medium to large scale businesses. The option provides the account holders with numerous free services and benefits such as an immediate credit of outstation cheques and auto payroll. Features Free transfer of Funds at CBS Branches outside clearing area. Auto sweep / Reverse sweep feature. Waiver of processing charges on car loans. A Minimum Quarterly Balance requirement of Rs. 2.5 Lakh. Transactions The transactional rules of this account are identical to the above one i.e., Baroda Premium Current Account. Minimum Balance Required With regards to Quarterly Average Balance, a sum of Rs. 2,50,000 and a sum of Rs. 1000+S.T will be charged for non-maintenance of Minimum QAB. Withdrawal The rules for withdrawal here holds similarities with the above account i.e., Baroda Premium Current Account. Baroda Advantage Current Account Baroda Advantage Current Account offers a wide range of benefits to both rural and urban customers, the likes of which include free mobile and internet banking and low minimum quarterly average balance. Features First-time free chequebook of 50 leaves. Free transfer of funds amongst CBS Branches, as well as a transfer of funds outside the clearing area through cheques. A Minimum Quarterly Balance of  Rs. 2,000 is to be maintained for Semi-Urban areas,

EMitra Rajasthan portal is a digital gateway that simplifies citizen-centric services with user-friendly features. This online platform caters to the residents of Rajasthan across 33 districts and offers over 600 government-to-citizen (G2C) and business-to-citizen (B2C) services. eMitra offers G2C services, such as exam applications, certificates, and B2C services spanning banking, agriculture, and more What is eMitra portal? Since 2002, Rajasthan’s eMitra portal has helped deliver diverse government and private services to citizens’ doorsteps transparently and affordably. With multiple payment options and streamlined verification, the portal aims to minimise document uploads and hassle-free transactions. This centralised hub simplifies transactions for citizens by accepting various payment methods. Furthermore, it helps ensure convenience and efficiency in service delivery EMitra: List of services The eMitra portal in Rajasthan provides several citizen-centric services, some of which are listed below: Aadhar card PAN card Income certificate Skill training facilities Apply for a Bhamashah card Caste certificate Residence certificate Water bill payment  Gas bill payment Electricity bill payment Mobile recharge services Apply for fertiliser sales licenses Water storage tank subsidies  E Mitra kiosks also offer cash withdrawal from Bhamashah accounts EMitra: Documents required for registration Aadhaar card Jan Aadhaar card PAN card Voter ID card Bhamashah card 10th class mark sheet Police verification Bank passbook Mobile number Two Rs 100 stamp papers Passport size photo EMitra: How to register as a new user? Step 1: Visit the official website of Emitra Rajasthan. Step 2: Click on the ‘Login’ tab on the top left of the homepage. You will be redirected to the Rajasthan Single Sign-On portal. Step 3: Click on ‘Registration’ and select ‘Citizen.’ Step 4: It will show you a list of options under ‘Citizen Registration’ Google account, Bhamashah, Jan Aadhar and Facebook. You can choose any of these. Here, we will take the Jan Aadhar step to register as a user on the eMitra portal. Step 5: Once you select Jan Aadhar, a new page will open on your screen. Step 6: Enter your Jan Aadhar ID or Enrollment ID and click the Next button.  Step 7: Enter all the required details on the new page on your screen. Step 8: Click the submit button to complete user registration. FAQs What is the use of an SSO ID? An SSO ID allows users to use one set of login credentials to access multiple applications. It helps streamline the authentication process and enhances user convenience. How to earn money from eMitra? The operators of eMitra kiosks earn a commission every time they facilitate a transaction.

The Jantri rate in Gujarat is the minimum rate decided by the State Government below which a property cannot be registered. In the April 15, 2023 update, the government doubled the Jantri rates in Gujarat along with some rebates on the paid Floor Space Index (FSI) and land conversion.  What is Jantri rate in Gujarat? The meaning of Jantri rate is the unit rates of properties determined by the Gujarat government. Also known as circle rate and value certification, the government verifies these rates for calculating registration charges levied on property transactions. Notably, a property cannot be registered or documented below this rate on the official portal of the State revenue department. What are the factors that affect Jantri rates in Gujarat?  Property type:  The type of property, such as residential, industrial and commercial, impact the jantri rates in the State. For instance, jantri rates applicable on a residential property will be lower than that of industrial or commercial real estate.   Infrastructure: Jantri rates in a place with a developed infrastructure are mostly higher. Therefore, a locality that has better or developed social amenities have costlier properties. Property’s age: Jantri rates for a freshly constructed property will be more than that of an old one.  Market value: Jantri rates directly impact the market value of a property. Therefore, higher jantri rates will make the property more expensive.  Location: Properties situated in a posh locality will attract higher jantri rates.  Jantri Rate Calculator Step 1: Visit the official website of Gujarat government’s Revenue Department Step 2: Find ‘Jantri’ option at the right top corner of the homepage of the official portal. After clicking the button, you will be redirected to a new webpage Step 3: On this webpage, you will find the map of Gujarat displayed with different districts on it. Choose the relevant district Step 4: Once you choose a district, its map will be displayed along with a list of blank tabs for taluka, village, survey number, and land type. Provide the correct information in all the tabs and click ‘Show Jantri’ Step 5: The rates of that particular location based on the information provided will appear on the screen. You can find the relevant location and check the Jantri rate according to the type of property How to get Jantri Rate Gujarat Via E-Dhara Kendra? Step 1: The applicant must fill out the Jantri Rate application at the E-Dhara Kendra. The following details would be required- Personal information, such as name, aadhar card number, address, father’s name, contact details, and relationship with the owner Land details, including land address, survey number, land units in acres and extent of land Step 2: Submit the documents mentioned above along with the application to the E-Dhara Kendra operator Step 3: The E-Dhara Kendra operator will issue the Jantri application Step 4: A field survey will be conducted once the Tehsildar processes the online request Step 5: Once the field survey enquiry is concluded, the Tehsildar will issue the Jantri rate How is Jantri rate calculated in Gujarat ? Jantri rate is decided based on the following factors- Type of structure of the immovable property Infrastructure such as facilities and amenities of a real estate project Maintenance and specification of the property Location of the property Age of the property Type of property Documents required to get Jantri rates Copy of sale deed/title deed   Encumbrance certificate copy   Copy of registration documents  Pattadar passbook copy FAQs How is the Jantri rate determined? The Jantri rate in Gujarat is determined to fixate property values at a particular level. Below this rate, a property cannot be registered in the official domain. What if the market value of a property is higher than the Jantri rate? If the market value of the property is higher than the Jantri rate then the former is considered for calculating registration charges or vice versa.

Over the years, the process of incorporating a company has been made simpler, which encourages full compliance by the companies. The management should be fully aware of the post-incorporation compliance to avoid any penalties or punishments. The Companies Act 2013 is a stringent act and leaves no room for any mistakes. “Ignorantia juris non excusat” means “ignorance of law is not an excuse”. This is a legal maxim which goes on to say that one cannot escape liability on the pretext of unawareness of the law. Thus the directors and shareholders will have to be aware of the legal compliance involved post-incorporation of the company. Compliances as per Companies Act, 2013 The Companies Act, 2013, must be followed by any company formed in India. The appointment, qualification, compensation, and retirement of company directors are all governed by the Companies Act, 2013. Aspects such as the conduct of Board Meetings and Shareholder Meetings. The preparation and presentation of annual financial statements, as well as the continuing maintenance of accounting records. A private company must comply with two types of regulations. Mandatory Compliances: Every private company, regardless of its status, is required to follow the same set of rules. Event-based Compliances: Event-based Compliances are triggered when a Company comes across a certain Event while conducting its business. Only the companies that are responsible for such situations are required to comply. What are the Post Incorporation Compliances of a Company? Post incorporation compliances for private limited company encompass a series of legal obligations that a company must adhere to following its formation or incorporation. These obligations typically include appointing directors and key managerial personnel, opening bank accounts, obtaining necessary licenses and permits, conducting initial board meetings, issuing share certificates, appointing auditors, filing statutory documents with relevant authorities, ensuring compliance with labor laws, registering for taxes, and maintaining statutory registers, among others.Fulfilling these requirements involves meticulous attention to detail, timely submission of documents, adherence to prescribed procedures, and compliance with applicable laws and regulations. Failure to meet these compliances can expose the company to legal penalties, financial liabilities, reputational damage, and operational disruptions. Hence, thorough understanding and diligent execution of compliances are essential for ensuring the legal and operational integrity of the company.  Following are the significant actions which need to be taken post company incorporation: First meeting: As per Section 173(1), of The Companies Act 2013, the company shall hold a meeting of the Board of Directors in less than 30 days from the date of its incorporation. Directors are permitted to attend the meeting either in person or through video conferencing. Bank account: Companies need to have a bank account even before approaching the authorities for company incorporation. Since the company is an artificial entity, the transactions cannot be done in the name of any natural person. Official address: As per Section 12(1), a company shall have a registered office within 30 days from the date of incorporation. This address shall be used to receive all official communication from the various authorities. The company shall inform the same to the registrar within 30 days from the date of incorporation. It’s all in the name: Every company shall be required to affix its name at all places from where it carries on its business operations. It shall be displayed in the language which is generally used in the locality. Additionally, the company has to get a seal with its name engraved on it, letterheads with appropriate information and printed negotiable instruments. Auditor: According to Section 139(1), the first auditor shall be appointed by the Board of Directors (BOD), except for a government company, within 30 days from the time the company is registered. Failing which, the members shall appoint the auditor within 90 days at an extraordinary general meeting. The term of the first auditor shall be until the conclusion of the first annual general meeting. Interest disclosure: At the first board meeting, every director shall disclose his interest in any company/firm/body corporate/association of individuals as outlined in section 184(1) of the Companies Act 2013. Any changes in the disclosures shall be intimated to the board in its first meeting held during each financial year. An independent director, if any, must give a declaration that he meets the criteria of independence during the first board meeting as a director. Statutory registers: The company shall be required to maintain statutory registers at the registered office of the company. The same shall be maintained in the prescribed form failing, which the company will be subject to penalties. Share certificate: The share certificate shall be issued to a shareholder within 60 days from the date of incorporation. In case of additional shares being allotted, the time period is taken as 60 days from the date of allotment. Books of Accounts: As per section 128, every company shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. The double entry system shall be followed, and the accounting is done on an accrual basis. Commencement of business certificate: Within 180 days, the company shall obtain a certificate of commencement of business. There is a requirement to file a disclosure made by the directors of the company stating that every subscriber has paid the amount due on the shares. Consequences of Non-Compliance Post Company Incorporation Fines & Penalties: Non-compliance with post-incorporation requirements can lead to the imposition of fines, penalties, and interest charges by regulatory authorities. These financial sanctions can strain the company’s resources and impede its financial health. Hindrance in Business Operations: Non-compliance may result in the inability to obtain necessary licenses, permits, or approvals, hindering the company’s ability to conduct business operations smoothly. This can lead to delays, disruptions, and loss of revenue opportunities. Closure of Company: Persistent non-compliance or serious violations of regulatory requirements may ultimately lead to the closure or dissolution of the company by regulatory authorities. This can result in the loss of investments, jobs, and assets. Damage to Brand Reputation: Non-compliance tarnishes the company’s reputation and erodes trust among stakeholders, including customers, investors, and partners. Negative publicity surrounding

A self-help group is a financial intermediary committee usually composed of 10 to 25 local women between the ages of 18 and 40. Most self-help groups are in India, though they can be found in other countries, especially in South Asia and Southeast Asia. Self Help Groups -What are SHGs? Self-help Groups (SHGs) are informal associations of people who come together to find ways to improve their living conditions. They are generally self-governed and peer-controlled. People of similar economic and social backgrounds associate generally with the help of any NGO or government agency and try to resolve their issues, and improve their living conditions. The Emergence of Self Help Groups – Origin and Development in India The origin of SHGs in India can be traced back to the establishment of the Self-Employed Women’s Association (SEWA) in 1972. Even before, there were small efforts at self-organising. For example, in 1954, the Textile Labour Association (TLA) of Ahmedabad formed its women’s wing in order to train the women belonging to families of mill workers in skills such as sewing, knitting, etc. Ela Bhatt, who formed SEWA, organised poor and self-employed women workers such as weavers, potters, hawkers, and others in the unorganised sector, with the objective of enhancing their incomes. NABARD, in 1992, formed the SHG Bank Linkage Project, which is today the world’s largest microfinance project. From 1993 onwards, NABARD, along with the Reserve Bank of India, allowed SHGs to open savings bank accounts in banks. The Swarn Jayanti Gram Swarozgar Yojana was introduced in 1999 by GOI with the intention of promoting self-employment in rural areas through formation and skilling of such groups. This evolved into the National Rural Livelihoods Mission (NRLM) in 2011. Evolution Stages of Self Help Groups in India Every Self-help group usually goes through 3 stages of evolution stated below: Formation of group Funding or Formation of Capital Development of required skills to boost income generation for the group Many self-help groups are formed with the assistance of Self- help to promote agencies. The various types of Self-help promoting agencies are stated below: Non-governmental agencies Government Poverty management programmes State & commercial banks Microfinance institutions SHG Federations SHG leaders/Entrepreneurs Need for Self Help Groups One of the chief reasons for rural poverty is the lack of access or limited access to credit and financial services. The Rangarajan Committee Report highlighted four major reasons for lack of financial inclusion in India. They are: Inability to give collateral security Weak credit absorption capacity The insufficient reach of institutions Weak community network It is being recognised that one of the most important elements of credit linkage in rural areas is the prevalence of sound community networks in Indian villages. SHGs play a vital role in giving credit access to the poor and this is extremely crucial in poverty alleviation. They also play a great role in empowering women because SHGs help women from economically weaker sections build social capital. Financial independence through self-employment opportunities also helps improve other development factors such as literacy levels, improved healthcare and better family planning. Functions of Self Help Groups They try to build the functional capacity of poor and marginalised sections of society in the domain of employment and income-generating activities. They offer collateral-free loans to sections of people that generally find it hard to get loans from banks. They also resolve conflicts via mutual discussions and collective leadership. They are an important source of microfinance services to the poor. They act as a go-through for formal banking services to reach the poor, especially in rural areas. They also encourage the habit of saving among the poor. Advantages of Self Help Groups Financial Inclusion – SHGs incentivise banks to lend to poor and marginalised sections of society because of the assurance of returns. Voice to marginalised – SHGs have given a voice to the otherwise underrepresented and voiceless sections of society. Social Integrity – SHGs help eradicate many social ills such as dowry, alcoholism, early marriage, etc. Gender Equality – By empowering women SHGs help steer the nation towards true gender equality. Pressure Groups – SHGs act as pressure groups through which pressure can be mounted on the government to act on important issues. Enhancing the efficiency of government schemes – SHGs help implement and improve the efficiency of government schemes. They also help reduce corruption through social audits. Alternate source of livelihood/employment – SHGa help people earn their livelihood by providing vocational training, and also help improve their existing source of livelihood by offering tools, etc. They also help ease the dependency on agriculture. Impact on healthcare and housing – Financial inclusion due to SHGs has led to better family planning, reduced rates of child mortality, enhanced maternal health and also helped people fight diseases better by way of better nutrition, healthcare facilities and housing. Banking literacy – SHGs encourage people to save and promote banking literacy among the rural segment. Problems of Self Help Groups (SHGs) Need for extending this idea into the poorest families, which is not necessarily the case at present. Patriarchal mindset prevailing which prevents many women from coming forward. There are about 1.2 lakh branches of banks in rural areas as opposed to 6 lakh villages in the country. There is a need to expand banking amenities further. Sustainability and the quality of operations of such groups have been questionable. There is a need for monitoring cells to be established for SHGs across the country. The SHGs work on mutual trust. The deposits are not safe or secure. Way Forward for Effective Self-Help Groups The Government should create a supportive environment for the growth and development of the SHG movement. It should play the role of a facilitator and promoter. SHG Movement should be expanded to Credit Deficient Areas of the Country – such as Madhya Pradesh, Rajasthan, States of the North-East. Financial infrastructure should be expanded (including that of NABARD) by adopting extensive IT-enabled communication and capacity building measures in these States. Extension of Self-Help Groups to Urban/Peri-Urban

The MSME I Form is to provide information on a half-yearly basis in the context of the outstanding payments to Micro or Small Enterprises for a period exceeding 45 days with the Registrar of Companies (ROC). Major changes have been made by the Ministry of Corporate Affairs in the context of protecting the interest of the small group of companies or businesses. He laid emphasis on following compliance by all Specified Companies Whether Public or Private Company, Micro or Small. Form MSME-1 The Ministry of Corporate Affairs (MCA) issued a notification on 22 January 2019 that specific companies having outstanding dues to the MSME (Micro, Small and Medium) enterprises have to file the particulars of all current outstanding dues in Form MSME-1 with the ROC (Registrar of Companies).  Companies need to identify if their suppliers are registered or not under the MSME Act, 2006. When the suppliers are registered under the MSME Act, and there are outstanding dues by a company to the MSME suppliers, it must file Form MSME-1.  Purpose of Filing Form MSME-1 The MSME Development Act, 2006 (MSMED) strengthens the provisions relating to delayed payments to the MSMEs by providing the maximum credit period and penal interest for delay in payment. When there is a delay in payment by the companies, they must mention the reason for such delay in their statement of accounts. Section 15 of the MSMED Act states that where the suppliers render services or supply goods to any buyer, the buyers should make payment on or before the agreed date between them and the suppliers. When there is no agreed date for payment between the MSME supplier and buyer, the buyer must make payment before the appointed date. The appointed date means fifteen days from the date of acceptance. Section 15 also states that the period of credit granted by the seller should not exceed 45 days from the acceptance date or date of deemed acceptance. To strengthen this provision further, the MCA introduced Form MSME-1. Every company that has obtained services or goods from an MSME supplier and has outstanding payment for more than 45 days must disclose it to the ROC by filing the MSME-1 return.   The MSME-1 is a half-yearly return that the specified companies need to file regarding their outstanding payments to the MSME. In this manner, the ROC can keep track of the companies that have outstanding dues towards MSMEs and the MSME suppliers who need to receive payments. However, companies have to file this return only when they have payments outstanding for more than 45 days to the MSME supplier. The companies need not file a ‘Nil MSME-1 Return’ when there are no outstanding amounts with the MSME suppliers. Who Should File Form MSME-1? Specified companies should file Form MSME-1 when payments are due to MSME for more than 45 days from the date of acceptance of the services or goods, along with the reason for its delay. Specified companies are companies-  That have obtained goods or services from the MSME.  Whose payments to the MSMEs exceed 45 days from the date of acceptance or deemed acceptance of the goods or services. Importance of Form MSME 1 Promotes Timely Payments: By mandating the filing of Form MSME 1, the government aims to curb delays in payment practices, ensuring that MSMEs receive their dues within a reasonable timeframe, which is vital for their liquidity and ongoing operations. Enhances Transparency: It increases transparency in the financial dealings between giant corporations and MSMEs, fostering a fair trade environment. Legal Compliance: Helps companies comply with legal requirements, avoiding potential penalties and legal repercussions associated with late payments to MSMEs. Economic Support: Timely payments are critical for the financial health of MSMEs, which are often less equipped to handle prolonged payment delays than larger firms. Details to be Reported in Form MSME-1 CIN and PAN of the company Name, address and e-mail of the company Name and PAN of the suppliers Outstanding amount due against the supply of goods or services Date from which the amount is due Reason for delay in payment of the amount due MSME Form 1 Due date MSME Form-1 is required to be submitted semi-annually to the Registrar of Companies (ROC). The MSME Form 1 last date is as follows: For the period from April to September: The form must be filed on or before October 31st. For the period from October to March: The form must be filed on or before March 30th Due Date Period for which MSME-1 is filed 30 April For October-March period 31 October For April-September period Non-Compliance of Filing Form MSME-1 Non-compliance with filing MSME-1 by the specified companies will attract a penalty under Section 405(4) of the Companies Act, 2013. As per Section 405(4), if any company fails to file MSME-1, the company and every officer in default will be liable to a penalty of Rs.20,000. In case of continuing failure, the company and every officer in default will be liable for a further penalty of Rs.1,000 for each day the failure continues, subject to a maximum of Rs.3 lakh. FAQs Who are Micro, Small & Medium Enterprises? Manufacturing Sector Service Sector Enterprises Investment in plant & machinery Enterprises Investment in equipment Micro Enterprises Below INR 25 Lakh Micro Enterprises Below INR 10 lakh Small Enterprises Above INR 25 Lakh but less than INR 5 Crore Small Enterprises Above INR10 lakh, but less than INR 2 crore Medium Enterprises Above INR 5 Crore but does not exceed INR 10 Crore Medium Enterprises INR 2 crore above, but less than INR 5 crore Why was the MSME-1 Form introduced by the MCA? MSME-1 Form has been introduced for companies, who received supplies of goods or services from micro and small enterprises and whose payments for such supplies are outstanding for more than 45 days by the MCA. Form MSME 1 introduction by MCA will help specified companies submit a half-yearly return to the MCA disclosing details like the amount of payment due, the reasons for the delay, etc.

Starting a real estate business in India can be a highly rewarding venture given the country’s rapid economic growth and urbanization. With an increasing demand for housing and commercial properties, the real estate sector presents numerous opportunities for aspiring entrepreneurs. Conduct Thorough Research Follow Industry Leaders Gain insights from seasoned professionals in the real estate sector. Learning from their experiences can provide valuable knowledge and help avoid common pitfalls. Understand the Indian Real Estate Market Analyze key factors such as demographics, GDP growth, housing trends, and local regulations. A thorough understanding of these elements will aid in making informed decisions. Research Current Market Conditions and Trends Investigate local demand and supply figures, government policies, and market dynamics. This research will help you identify lucrative opportunities and potential challenges. Pick a Specialty Commercial Brokerage Consider focusing on commercial properties, which can offer higher returns but may require more significant investment and expertise. Residential Brokerage Specializing in residential properties can be more accessible for beginners and has a vast market, especially in urban areas. Land Investments Investing in land can be profitable, but it requires a deep understanding of legal and regulatory aspects. Identify Popular Areas and Properties Use online tools and databases to find high-demand areas and properties that sell quickly. This information will help you make strategic investment decisions. Register Your Business Business Name Registration Register your business name with the Registrar of Companies (RoC) to establish your legal entity. Obtain Necessary Licenses Acquire a license from the Home Ministry to operate as an agent or broker. This step is crucial for legal compliance. File Taxes and Paperwork Ensure all tax filings and regulatory paperwork are in order with the Income Tax Department to avoid legal issues. Obtain a License State Government Real Estate License Obtain a real estate agent license from the respective state government. This license is increasingly necessary due to the professionalization of the industry. Develop a Business Plan Identify Your Target Audience Define your target market and develop marketing strategies tailored to their needs. Marketing Campaigns Create compelling marketing campaigns, invest in online advertising, and develop lead magnets to attract potential clients. Understand Costs and Fees Be aware of the various costs associated with real estate transactions, including mortgage rates, registration fees, and advertising expenses. Expand Your Network Build Relationships with Suppliers and Clients Networking is essential in real estate. Establish strong connections with suppliers, clients, and other industry professionals. Attend Industry Events Participate in real estate events and conferences to expand your professional network and stay updated on industry trends. Build an Online Presence Professional Website Create a professional website showcasing your properties and services. A well-designed website can attract and engage potential clients. Utilize Social Media Leverage social media platforms to reach a broader audience and engage with potential clients. Regular updates and interactive content can boost your online presence. Provide Excellent Service Prioritize Customer Satisfaction Ensure prompt responses to inquiries and provide transparent information to build trust with clients. Stay Updated on Market Trends Continuously update your knowledge of market conditions and regulations to offer the best advice and services to your clients. Real Estate Business – Realtors Building material suppliers, builders, building labour suppliers, architects, engineers, construction equipment providers, financiers and realtors or brokers all come together to create the vibrant real estate business in India. Key amongst this group are the realtors or brokers who are the interface with the consumers in the transaction processes providing advice, information and help negotiate the deals. In this article we mainly look at how to start a real estate brokerage business. Business Registration Most real estate agents operate as unregistered businesses – typically a proprietorship or unregistered partnership. However, the real estate brokerage business is now becoming reformed, formalized and elevated to international standards to win over customer confidence and compete with large online real estate brokerage platforms. Therefore, it is important for those starting a real estate brokerage business to establish their business as a Private Limited Company or Limited Liability Partnership (LLP) to improve customer confidence and bring about professionalism. Service Tax Registration The services provided by a Real Estate Agent or Real Estate Consultant are taxable under the Service Tax Act. As per the Service Tax Act,  “Real estate agent” means a person who is engaged in rendering any service in relation to sale, purchase, leasing or renting, of real estate and includes a real estate consultant. “Real estate consultant” means a person who renders in any manner, either directly or indirectly, advice, consultancy or technical assistants, in relation to evaluation, conception, design, development, construction, implementation, supervision, maintenance, marketing, acquisition or management of real estate. Service tax is chargeable on any taxable service rendered by the real estate agent or real estate consultant for a consideration in money. The gross amount charged by the service provider is taxable at 14% under the service tax act. Therefore, those real estate agents or real estate consultants having an annual taxable services billing of more than Rs.9 lakhs must obtain service tax registration and collect service tax from client when annual taxable services billing exceeds more than Rs.10 lakhs per year. Real Estate Agent License The real estate business is becoming more organized and Haryana State is among one of the first state in the country to establish licenses for real estate agents. In Haryana, individual real estate agents have to pay a license fee of Rs.25,000 while a company would have to pay Rs. 50,000 for the licence. Real estate agent license from Haryana State would be valid for five years and can thereafter be renewed for a fee of Rs.5000 for individuals and Rs.10,000 for companies. In addition to real estate agent license from State Governments that are mandatory, real estate agents can also become a member of National Association of Realtors – India (NAR-India). NAR-INDIA is a national level umbrella organization representing the interests of thousands of realtors/brokers operating all over the country. NAR-India aims to elevate the standards of practice of the real estate brokerage business to a global level where ethics, transparency, accountability, rule of law and good governance

Section 106 of the Transfer of Property Act of 1882 deals with the duration of certain leases in the absence of a contract. According to this section, a six-month notice period should be served by the lessor or lessee for immovable property. This clause is applicable on properties used for agricultural and manufacturing purposes. For a lease of immovable property for any other purpose, a 15-day notice should be served by the lessor or lessee. The notice should be a written piece of communication, expressing the intention to terminate the lease and must end on a day corresponding to the end of the tenancy period Introduction A transfer of property is a gift, sale, mortgage, lease or exchange of immovable property from the owner to another living person, who can make use of the land or enjoy the possession of land for a period of time or permanently. In other terms, transfer of property is the act of transferring property from one person to another. the term ‘lease’, which refers to the transfer of property from one person to another in exchange for money, for a set period of time. Without selling the property, another person can utilise it as his own property for the duration of the agreement. Even if the owner’s property is leased to someone else, the owner will always be the owner. For a fixed period of time, the other person may utilise that property as his own. The parties’ agreement might be written or verbal in their contract. Section 106 of the Transfer of Property Act, 1882 governs the tenure of leases in the absence of a documented contract or local practice. Let us go through some more details concerning lease under the Transfer of Property Act of 1882. Essential elements of lease under Section 105 of Transfer of Property Act, 1882 Section 105 of the Transfer of Property Act of 1882 addresses the essential elements of a valid lease of immovable property. The parties There are two parties in a lease: the lessor and the lessee. The word “lessor” refers to the party, who transfers the immovable property, i.e. the owner or transferor. The word “lessee” refers to the person, who receives the property from the owner, also known as the holder of the property or the transferee. The demise The term “demise” implies to transfer property by lease or to give a property at lease. It is the transfer of immovable property from the lessor to the lessee through a lease. The property obtained from the owner is enjoyed by the lessee. It is the right to enjoyment known as demise. The term (duration)  The duration of time is limited to the time indicated by the owner or lessor. The lessor specifies a time frame for transferring his immovable property for lease. It is entirely up to the owner to reach an agreement with the lessee for a specific span of time, to use or enjoy a hold of his property. The consideration The owner fixes the lease price, which is known as the premium, and the money or value, contribution, service, or other things that are delivered is known as rent. The immovable property is leased for a certain amount, determined by the owner as the consideration. Consideration is the price to be paid or the promised amount to be given to the transferor on a regular or specified basis by the transferee. Agreement to lease The lease agreement is a deed between two parties, the lessor and the lessee, who both enter into a lease agreement. The lessor is the person who rents out his immovable property to the lessee on a monthly or annual basis for a fixed cost that the owner has agreed to or set. Under this agreement, the owner retains ownership of his property but transfers it to the other person for his use or enjoyment in exchange for a premium or rent. It is up to the parties whether the agreement is written or implied. The owner may establish the rate of premium for the immovable property. For example: When ‘A’ leases his house to ‘B’ for a year at a payment of Rs.50,000. This is an agreement between ‘A’ and ‘B.’ As a result, ‘A’ does not lose ownership throughout this one-year period. Duration of certain leases : Section 106 of Transfer of Property Act, 1882 In the absence of a formal contract or local practice, Section 106 of the Transfer of Property Act, 1882 governs the lease. There are two uses, agricultural and manufacturing, that are made to be assumed to lease on a year-to-year basis and can be terminated by either the lessor or the lessee with six months’ notice. If it is for any other reason, it will be treated as a lease from month to month basis by giving 15 days’ notice. Sample notice under Section 106 of the Transfer of Property Act For owners or legal counsellors, it is essential to include key details when drafting a notice under Section 106. Particulars such as the date of the notice, names of parties, a description of the property, lease terms, and the termination date must be mentioned in the notice. Here is a sample format: [Owner’s name][Owner’s address][City, State, PIN code][Date] [Tenant’s name][Tenant’s address][City, State, PIN code] Dear [Tenant’s Name], Subject: Termination of tenancy for [Property address] This notice is to inform you that your tenancy of the property at [Property address] will be terminated effective from [Termination date]. You are requested to vacate the premises by the mentioned date. Thank you for your cooperation. Sincerely,[Owner’s name][Signature] Supreme Court judgment on Section 106 of the Transfer of Property Act A public trust, led by Shri Ramanand rented out two shops on an oral Rental agreement to Nand Lal and Jitendra Rai. The trust sent lease termination notices under Section 106 of the Transfer of Property Act after the tenants stopped paying rent. When the trust filed an appeal in the court, it was dismissed