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Individuals who have shifted their residential address will have to make an application to their respective Regional Transport Office to reflect the change in their driving licence. This can be done either online or offline. Documents to Change of Address in Driving Licence Online Application in Form 33 Certificate of registration Proof of new address Valid insurance certificate Pollution under control certificate No Objection Certificate (in case of loan) Smart card fee (may be required in some states) Attested cop of PAN card or Form 60 and Form 61 (as applicable) Chassis & Engine Pencil Print (may be required in some states) Signature Identification of owner (may be required in some states) Online Process to Change the Address on Driving Licence Step 1: Visit the official website of Parivahan Sewa Step 2: Click on ‘Driving Licence Related Services’ from the drop-down menu under ‘Online Services’. Step 3: Select the state from the drop-down menu. Step 4: Select ‘Apply for Change of Address’ icon. Step 5: Click on ‘Continue’ Step 6: Enter the ‘Driving Licence Number’ and ‘Date of Birth’. Step 7: Click on ‘Get DL Details’. Step 8: Confirm that the driving details mentioned belongs to you. Select the option from the drop-down menu present beside the question. Step 9: Select the ‘RTO’ Step 10: Click on ‘Proceed’. Step 11: Add all the required details. Step 12: Check the box against ‘Change of address on DL’. Step 13: Choose one option out of ‘Permanent’, ‘Present’, or ‘Both’ as per your requirement and fill the required details. Step 14: Click on ‘Confirm’ and ‘Submit’ Step 15: Pay the processing fee. Offline Process to Change the Address on Driving Licence If you want to make an application offline, the first step to having your residential address changed in on your driving license is to obtain a No Objection Certificate / Clearance Certificate from the RTO from where you attained your driving license. Once you have obtained the CC / NOC, you will be required to go to the nearest RTO if you wish to apply for a change of address. You would need a caste certificate and an income certificate issued by Tahsildar. if you don’t have valid ID proof Along with the caste certificate, one has to submit other documents like a duly-filled application form, and address proof (like ration card, passport, voter ID, telephone bill, or water bill). For address change, get these documents verified by the superintendent and pay the processing fees. You will receive a receipt/acknowledgement slip confirming your application. The driving licence will be delivered within 30 days from the date of application. To correct address offline, follow the steps mentioned below: Step 1: Visit the nearest RTO office. Step 2: Get the address change form or you can download the form online from Parivahan website. Step 3: Fill the form and submit at the RTO along with all the required documents. Step 4: The RTO superintendent will verify your documents. Step 5: Upon completing verification, pay the fees for address change and collect the receipt. Step 6: Keep the receipt safely until your new Driving Licence arrives. The Driving License will be posted on your new address within 30 days after making application. FAQs Why Do I Need to Change the Address on My Driving License? You need to update your address on your driving license if you’ve moved to a new residence. This ensures that the information on your license is accurate, and it helps in case of any legal, official, or communication requirements related to your driving record. How Long Does It Take to Update the Address on My Driving License? The process of updating your address on the driving license usually takes 7 to 14 working days once your application is processed and approved by the RTO. If you apply online, you will receive a temporary acknowledgment until the new license is issued.

Capital gain is denoted as the net profit that an investor makes after selling a capital asset exceeding the price of purchase. The entire value earned from selling a capital asset is considered as taxable income. To be eligible for taxation during a financial year, the transfer of a capital asset should take place in the previous fiscal year. Financial gains against a sale of an asset are not applicable to inherited property. It is considered only in case of transfer of ownership. According to the Income Tax Act, assets received as gifts or by inheritance are exempted in the calculation of income for an individual. Buildings, lands, houses, vehicles, Mutual Funds, and jewelry are a few examples of capital assets. Also, the rights of management or legal rights over any company can be considered as capital assets.  What Is a Capital Gain? A capital gain refers to the increase in the value of a capital asset that is realized when it is sold. In other words, a capital gain occurs when you sell an asset for more than what you paid to purchase it. The Internal Revenue Service (IRS) taxes individuals on capital gains under certain circumstances. Almost any type of asset you own is a capital asset. They can include investments such as stock, bonds, or real estate, and items purchased for personal use, such as furniture or a boat. The following are not included under capital assets Any stock, consumables or raw materials that are held for the purpose of business or profession. Goods such as clothes or furniture that are held for personal use. Land for agriculture in any part of rural India. Special bearer bonds that were issued in 1991. Gold bonuses issued by the Central Government such as the 6.5% gold bonus of 1977, 7% gold bonus of 1980 and defense gold bonus of 1980. Gold deposit bonds that were issued under the gold deposit scheme (1999) or the deposit certificates that were issued under the Gold Monetisation Scheme (2015). Types of Capital Gain Short Term Capital Gain If an asset is sold within 36 months of acquisition, then the profits earned from it is known as short term capital gains. For instance, if a property is sold within 27 months of purchase, it will come under short term capital gains.  However, tenure varies in the case of different assets. For Mutual Funds and listed shares, Long term capital gain happens if an asset is sold after holding back for 1 year. Long Term Capital Gain The profit earned by selling an asset that is in holding for more than 36 months is known as long-term capital gains. After 31st March 2017, a holding period for non-moveable properties was changed to 24 months. However, it is not applicable in case of movable assets such as jewelry, debt-oriented Mutual Funds, etc.  Furthermore, a few assets are considered as short-term capital assets if the holding period is less than 12 months. Here is a list of assets that are considered according to the rule mentioned above –  Equity shares of any organization listed on a recognized Indian stock exchange. Securities like bonds, debentures, etc. that are listed on any Indian stock exchange. UTI units, regardless of being quoted or unquoted. Capital gain on Mutual Funds that are equity-oriented, whether they are quoted or not. Zero-coupon bonds. All the assets mentioned above are considered as long-term capital assets if they are held for 12 months or more. In case of any asset acquired by inheritance or gift, then the period for which an asset is owned by a previous owner is considered. Calculation of Capital Gains Full Value Consideration –  It is the consideration that is received by a seller in return for a capital asset.  Cost of Acquisition –  The cost of acquisition is the value of an asset when a seller acquires it. Cost of Improvement –  The cost of improvement is the amount of expenses incurred by a seller in making any additions or alterations to a capital asset. To calculate the value of short term capital gain, the full amount of consideration is required to be determined at first. From the obtained value, cost of acquisition, cost of improvement and the total expenditure incurred concerning the transfer of ownership has to be deducted. This resultant value will be the capital gain on investments. Indexed Cost of Acquisition The cost of acquisition is calculated on the present terms by applying the CII (Cost Inflation Index). It is done to adjust the values by taking into account the inflation that takes place over the years while holding the asset. The indexed cost of acquisition can be estimated as the ratio of the Cost Inflation Index (CII) of the year when an asset was sold by a seller and that of the year when the property was acquired or the financial year 2001-2002, whichever is later multiplied by the Cost of acquisition. Suppose, a person acquired an asset at Rs. 50 Lakh in the financial year 2004-2005 and she decided to transfer the property in the fiscal year 2018-19. The CII of the financial year 2004-05 and 2018-19 were 113 and 280 respectively. Therefore, the indexed cost of acquisition will be 50 X 280 / 113 = Rs. 123.89 Lakh. Indexed Cost of Improvement The indexed cost of the improvement is calculated by multiplying the associated cost of improvement that was required to the CII of the year divided by the CII of the year in which the improvement took place. Tax Exemptions on Capital Gains 1. Section 54 If an amount earned by selling a residential property is invested to purchase another property, then the capital gains earned by transferring the ownership of a property is tax exempted. However, deductions can be claimed only if the following conditions are met –  Individuals are required to purchase a second property within 2 years of sale or 1 year before transferring the ownership. In the case of an under-construction property, the purchase of a second property should be

The minimum wages act, 1948, is the minimum amount that an organisation has to pay a particular employee (skilled or unskilled) for a specific job at a particular time that any contract agreement or collective agreement cannot reduce. The Minimum Wage Act was first implemented in 1948 and took effect on 15 March. The Act also created the Tripartite Committee of Fair Wage. This committee was formed to set the minimum wage guidelines in India. It defined the minimum wage and the criteria for its calculation. It set the foundation for the wage fixation process in India. Minimum Wages Act Minimum Wages Act is Central legislation that is administered by both the Central and State Government. The State Government is responsible for fixing minimum rates of wages for different classes of employees, make rules, appoint inspectors and an authority to decide claims relating to non-payment of minimum wages. Every State fixes the minimum wages which are also revisable for every five years Purpose of Minimum Wage Act, 1948 The importance of the Minimum wage act 1948 is to prevent employee exploitation and ensure a decent living for a worker. The Act provides that the government will fix the minimum wage rate and revise it every five years. It appoints advisory committees to consider the proposals. The government must follow the guidelines and implement them as soon as possible. In many cases, this means announcing the changes to the law before the public. The Act was introduced in 1948, and it was amended in 2000 The changes included a change in the floor level for minimum wages Currently, the minimum wage floor in India is 115, but the law also gives exceptions for certain employees The lowest floors are in Andhra Pradesh, Kerala, and Gujarat In addition to this, the new law provides for higher minimum wages for workers with disabilities  The act requires the government to consult with the committee and the representatives of the people affected by the minimum wage.  The committee determines the minimum rate of the act The government must publish it in the official newspapers and enforce it within three months The government must inform the affected parties of the proposed minimum wage by publishing the decision in a national daily In case of non-payment of wages, the authority must pay ten times the difference Fixation and Revision of Minimum rates The Minimum Wages Act, 1948, for the most part, indicates the lowest pay permitted by law rates on an everyday basis and stretches out to the whole nation. It is overhauled every five years, but there is an arrangement to increment the dearness allowance every two years. ILC first suggested the standards for fixing and amending minimum wages. Update of the lowest pay permitted by law rates depends on a ‘typical cost for many everyday items list’, and wages can be fixed for a whole state, some portion of the state, class or classes, and occupations relating to these classifications. The obsession with wages depends on the standards referenced and a compensation board (different for various industries). Under the Minimum Wages Act, State and Central Governments can fix and reexamine the least wages.  The demonstration determines that the “suitable” government ought to improve the wages; for example, if the wages to be fixed are according to any power of the Central Government or Railway organisation, then the Central government fixes it Assuming that the compensation rate is to be fixed or amended for planned work, the separate state legislatures set it The Centre fixes the National floor level Minimum Wage that is lower than most states’ individual least wages The vagueness and cross-over in the locale of government levels have caused discussions and contentions One of such discussions spins around fixing wage paces of MGNREGA plot and a business ensure drive by the Central Government The Objective of the Minimum Wages Act The Minimum wage Act 1948 accommodates fixing wage rates (time, piece, ensured time, additional time) for any industry. 1) While fixing hours for an ordinary working day according to the demonstration, ought to ensure the accompanying: The number of hours to be fixed for an ordinary working day should have at least one stretch/break One three-day weekend from a whole week ought to be given to the representative for rest Installation for the day chosen to be given for rest ought to be paid at a rate at the very least the additional time rate 2) If a representative is engaged with work that classifies his service in at least two booked vocations, the worker’s pay will incorporate a particular compensation pace of all work for the number of hours devoted at each undertaking. 3) The business must keep records of all workers’ work, wages, and receipts. 4) Appropriate legislatures will characterise and dole out the errand of review and choose examiners for the equivalent. FAQs What is the Minimum Wage in India? The Minimum Wage in India is the lowest wage that employers are legally required to pay their workers. It varies by state, sector, and type of employment (skilled, semi-skilled, or unskilled workers). The minimum wage ensures that workers are compensated fairly for their labor, and it is set by both the central and state governments. Who Sets the Minimum Wages in India? Central Government: The central government sets minimum wage rates for workers in industries that fall under its jurisdiction (such as railways, mines, and oil sectors). State Governments: State governments have the authority to set minimum wage rates for all other sectors within their state boundaries.

LEI, a unique global identifier for legal entities participating in financial transactions, is designed to create a global reference data system that uniquely identifies every legal entity, in any jurisdiction, that is party to a financial transaction. It is a unique 20-character code to identify legally distinct entities that engage in financial transactions. Legal Entity Identifier (LEI) Legal Entity Identifier (LEI) is a 20-digit unique generated number used to identify parties worldwide to ignore financial activities and obtain precise financial data, hence controlling risk.The Legal Entity Identifier (LEI) is produced independently for each non-individual party and is not relevant in customer transactions where both the remitter and the beneficiary are persons.The goal of developing the Legal Entity Identifier (LEI) is to create a worldwide reference data system that uniquely identifies every legal entity in any country that is involved in a financial transaction.Borrowers must renew their Legal Entity Identifier (LEI) by the guidelines of the Global Legal Entity Identifier Foundation (GLEIF), and Banks and Financial Institutions are responsible for the renewal. RBI guidelines for Legal Entity Identifier (LEI) for Borrowers The central bank stated in a notification Circular no. RBI/2022-23/34 DOR.CRE.REC.28/21.04.048/2022-23, Dated: 21.04.2022 that following a review, it has been determined that the rules on LEI would be extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). Previously, the RBI decided in Circular no. RBI/2017-18/82 DBR No.BP.BC.92/21.04.048/2017-18, Dated: 02.11.2017, that banks should advise their existing large corporate borrowers with total exposures of Rs. 50 crore and above to obtain LEI codes within the timeframes specified in the schedule annexed to the Circular. Banks should also push major borrowers to get LEI for both their parent organization and their subsidiaries and affiliates. The RBI has now decided to extend the Legal Entity Identifier (LEI) rules to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). Furthermore, the RBI has advised that non-individual borrowers with aggregate exposure of Rs. 5 crores or more from banks and financial institutions must get LEI codes within the timeframes mentioned in the Circular. All fund-based and non-fund-based (credit and investment) exposure of banks/FIs to the borrower should be included in the word “exposure.” The higher the aggregate sanctioned limit or the outstanding balance must be used for this purpose. Furthermore, the RBI has said that borrowers who do not secure LEI codes from an approved Local Operating Unit (LOU) would not be awarded any new exposure or renewal/enhancement of any existing exposure. Departments/Agencies of the Central and State Governments, however, are excluded from the clause if they are not Public Sector Undertakings registered under the Companies Act, 2013 or constituted as Corporations under the appropriate law. Who needs a Legal Entity Identifier (LEI)? The legal entity identifier (LEI) is compulsory in the making of interest rates, forex, and market outflows. The Reserve Bank of India (RBI) has also made LEI mandatory for companies and organizations with full fund-based and non-funded credit exposure over Rs ​​50 crore. Documents required for registration of LEI Power of Attorney or legal letter Incorporation Certificate  Certificate of Incumbency Registry Extract or official filling Article of Association Any other mandatory document that verifies the required LEI data, such as an annual report, Directors’ register, your audited accounts, etc. Timeline to obtain LEI by Borrowers Exposure  Timeline  Over Rs. 25 crore 30 April, 2023 Above Rs. 10 crores and up to 25 crore 30 April, 2024 Rs. 5 crore- Rs 10 crore 30 April, 2025 FAQs What is an LEI (Legal Entity Identifier)? An LEI (Legal Entity Identifier) is a unique 20-character code used to identify legally distinct entities involved in financial transactions. The LEI helps to enhance transparency in the global financial markets and improves the ability to track and monitor financial transactions across borders. It is issued to companies, government entities, and other legal organizations. Who is required to obtain an LEI for non-individual borrowers? Companies Partnerships Limited Liability Partnerships (LLPs) Trusts

In the vast tapestry of India’s land management system, there exists a term that echoes through centuries of tradition and bureaucracy, and that term is “Adangal.” It may not be a household name, but its importance in the domain of land records in India cannot be overstated Maintaining documents in physical form requires proper maintenance and storage. To digitise all land records in Telangana, the government of Telangana has started an online portal called “Maa Bhoomi”. Currently, the residents of Telangana can check all the online land record details from the official website Chief Commissioner of Land Administration (CCLA) and also through the Integrates Land Records Management System (ILRMS). The land and property owners in the state of Telangana can easily access the land records with the help of the website (online portal). The data on the online portal comprises the extent of land, survey number, owner name attadar name, tax, nature of the land and crop and other relevant details. With the help of the “CCLA” portal, Pahani for all land situated in Telangana can also be downloaded. Understanding Adangal Adangal, also known as ‘Pahani’ or ‘Adhikara Niyamam,’ is essentially a land revenue record that documents vital information about a piece of land. This record serves as a legal document and is an integral part of land administration in India, particularly in rural areas. Its roots can be traced back to ancient times when agrarian societies needed a method to keep track of land holdings, crop cultivation, and revenue collection. Pahani/Adangal A Pahani or Adangal is a legal land related document issued by the Tahsildar. A Pahani or an Adangal contains details of the land. The contents of a Pahani/Adangal: Name of the Land Owner. Extents and Khata Number. Total Land under the Pahani. Details of the Land revenue. Land Cultivation resources. Hissa and Survey Number of the Land. Nature of procession of land. The process via which land is acquired by the owner. Soil Classification. The rights of the Government or Public rights on the Land. Liabilities of the Owners on the Land. The Components of Adangal Land Ownership Details: Adangal contains information about the landowner, including their name, title, and other relevant particulars. It is essential for establishing the legal ownership of the land. Land Classification: It classifies the land into various categories, such as agricultural, non-agricultural, or barren, based on its current and historical use. Crop Details: Adangal documents the crops cultivated on the land, enabling authorities to assess land revenue and taxation accordingly. This section also includes information about the crop season and expected yield. Land Boundaries: Precise measurements and details of land boundaries help in avoiding disputes and encroachments. Record of Rights: It enumerates the rights associated with the land, such as ownership, tenancy, or government-leased land. Mutation Details: Any changes in landownership or land use are recorded in the mutation section, ensuring an up-to-date land register. Checking Pahani or Adangal Online Step 1: Log on to the “CCLA” website. Step 2: On the homepage click on the “Know Your Land status” link. Step 3: On this page, click on “Land Details Search” link given under the head “RECORD OF RIGHTS (ROR)” system. When clicked on “Land Details Search”, it will be redirected to the “Dharani Website” page. Step 4: Enter credential Select district, division, mandal and village from the dropdown list. Now, search details by using three options- Khata No./Survey No., or Buyer Name/Seller Name or Mutation Date. After selecting the relevant no, click on the “Get Details” tab. Step 5: Finally, Pahani details will appear on the screen. Candidates can check all the information available. Step 6: Lastly, you can save the Pahani details and if you wish to take a printout of the same just click on the “Print Pahani Details” tab and retain it for further references. FAQs What is Pahani? Pahani (also called “RTC” or Record of Rights, Tenancy, and Crops) is an important land document used in states like Karnataka, Telangana, and Andhra Pradesh. It contains detailed information about a piece of agricultural land, including the landowner’s details, type of soil, area, type of crop grown, water source, and liabilities, among other specifics. What is Adangal? Adangal (also known as “Village Account No. 2”) is a land record maintained by the Village Administrative Officer (VAO) or revenue department to document agricultural details of land in a particular village. It includes information about the crops grown, extent of land, ownership details, and other related data.

A macro environment refers to the overall, broader economy and the forces affecting it versus a microenvironment, which focuses on a specific sector or region’s economy. There are macroeconomic conditions or factors that affect how all businesses operate, which, in turn, affect the economy as a whole. In general, macroeconomics deals with: Spending Price levels Aggregate production What Is a Macro Environment? A macro environment refers to the set of conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. The macro-environment is closely linked to the general business cycle as opposed to the performance of an individual business sector. Analyzing a Macro Environment The macro-environment refers to how the macroeconomic conditions in which a company or sector operates influence its performance. Macroeconomics deals with aggregate production, spending, and the price level in an economy as opposed to individual industries and markets. The amount of the macro environment’s influence depends on how much of a company’s business is dependent on the health of the overall economy. Cyclical industries are heavily influenced by the macro environment, while basic staple industries are less influenced. Industries that are highly dependent on credit to finance purchases and business investments are strongly influenced by changes in interest rates and global financial markets. The macro-environment can also directly affect consumers’ ability and willingness to spend. Luxury goods industries and big-ticket consumer goods can be highly impacted by fluctuations in consumer spending. Consumers’ reactions to the broad macro-environment are closely monitored by businesses and economists as a gauge for an economy’s health. Factors of the Macro Environment Analyzing the macro environment is an important part of strategic management. Business analysts often conduct a PEST (political, economic, socio-cultural, and technological) analysis to identify macro-economic factors that currently affect or in the future may affect business. Some of the key factors composing the macro environment include the following: Gross Domestic Product Gross Domestic Product (GDP) is a measure of a country’s output and production of goods and services.  Releases a quarterly report on GDP growth that provides a broad overview of the output of goods and services across all sectors.An especially influential aspect of GDP is corporate profits for the economy, which is another measure of an economy’s comprehensive productivity. Inflation Inflation is a key factor watched by economists, investors, and consumers. It affects the purchasing power . The target rate for annual inflation from  2%. Inflation higher than 2% significantly diminishes the purchasing power , making each unit less valuable as inflation rises. Employment Employment levels are measured , which releases a monthly report on business payrolls and the status of the unemployment rate.regulate employment levels through monetary policy stimulus and credit measures. These policies can ease borrowing rates for businesses to help improve capital spending and business growth, resulting in employment growth. Consumer Spending Consumer spending made up 54%  is widely considered to be an important indicator of macroeconomic performance.Slow growth or decline in consumer spending suggests a decline in aggregate demand, which economists consider to be a symptom or even a cause of macroeconomic downturns and recessions.  Monetary Policy The Federal Reserve’s monetary policy initiatives are a key factor influencing the macro environment . Monetary policy measures are typically centered around interest rates and access to credit. Federal interest rate limits are one of the main levers of the Federal Reserve’s monetary policy tools. The Federal Reserve sets a federal funds rate for which federal banks borrow from each other, and this rate is used as a base rate for all credit rates in the broader market. The tightening of monetary policy indicates rates are rising, making borrowing more costly and less affordable. Fiscal Policy- Fiscal policy refers to government policy around taxation, borrowing, and spending. High tax rates can reduce individual and business incentives to work, invest, and save. The size of a government’s annual deficits and total debt can influence market expectations regarding future tax rates, inflation, and overall macroeconomic stability. Government spending drives borrowing and taxation; it is also widely used as a policy tool to try to stimulate economic activity during slow times and make up for sluggish, consumer spending and business investment during recessions. FAQs What is the macro environment? The macro environment refers to the larger, external forces that affect an organization’s operations and performance. These factors are generally beyond the control of individual businesses but have a significant impact on their strategies and decision-making. The macro environment includes elements like political, economic, social, technological, environmental, and legal factors (often summarized as the PESTEL framework). What are the key components of the macro environment? Political Factors: Government policies, political stability, tax laws, trade regulations, and political pressures. Economic Factors: Economic growth rates, inflation, unemployment, exchange rates, and overall economic conditions. Social Factors: Demographics, cultural attitudes, lifestyle changes, and population trends. Technological Factors: Innovations, technological advancements, automation, and the impact of new technologies on industries

RBI is an institution of national importance and the pillar of the surging Indian economy. It is a member of the International Monetary Fund (IMF).  The concept of the Reserve Bank of India was based on the strategies formulated by Dr. Ambedkar in his book named “The Problem of the Rupee – Its Origin and Its Solution”. This central banking institution was established based on the suggestions of the “Royal Commission on Indian Currency & Finance” in 1926. This commission was also known as the Hilton Young Commission. In 1949, the Reserve Bank of India was nationalized and became a member bank of the Asian Clearing Union. RBI regulates the credit and currency system in India. The chief objectives of the RBI are to sustain the confidence of the public in the system, protect the interests of the depositors, and offer cost-effective banking services like cooperative banking and commercial banking to the people. E-Mandate eMandate is a feature by which the customer’s bank initiates the mandates to the sponsor bank (to which the amount has to be paid) or to the customer. The corporate moves the mandate via the sponsor bank to the concerned bank with the attributes of customer authentication. The eMandate system makes it easier for issuance and confirmation of mandate by the customers through alternate channels to a paper-based mandate.  Objectives of eMandate The objectives of e-mandate are as follows: To create an authenticated mandate by the customer using electronic channels. To mandate the acceptance cycle of auto acceptance of mandates. To ensure secured and assured mandate acceptance. Charges Levied National Payments Corporation of India (NPCL) levies charges for the usage of the eMandate system of NACH. These charges include: Joining/Membership fee Transaction fee Network recovery charges Certification and on-boarding charges Taxes and statutory payments Testing Training Charges for offering value-added services Fines and penalties The intervals for collection of such charges and the mode of the collection would be decided by NPCI in consultation with NACH steering committee and would be communicated to participating banks. NPCL furnishes a schedule of charges to all member banks. All charges would be without the inclusion of service tax or any other statutory charges that have to be paid separately. Submission of eMandates The destination banks, after verifying and confirming the authentication of the mandate, have to submit the mandate to NACH system for onward transmission to the sponsor bank within 48 hours of completion of the activity. FAQs What is an RBI eMandate? An eMandate is a digital authorization from a bank account holder that allows a business or service provider to automatically debit a specific amount from their account on a recurring basis. This mandate system is governed by the Reserve Bank of India (RBI) and is typically used for payments like subscription fees, utility bills, loan EMIs, and insurance premiums. How does the eMandate process work? Customer Authorization: The customer authorizes an eMandate through their bank or service provider’s website or mobile app. Verification: The bank verifies the customer’s details and authorizes the eMandate. Recurring Payments: Once the eMandate is set up, the agreed amount is automatically deducted from the customer’s account as per the defined schedule (monthly, quarterly, etc.).

The land of cultures, cuisines, & captivating sceneries- West Bengal is a State like no other. Needless to say, inheriting a property in a prime State like this will include a lot of paperwork involving the legal transfer of property ownership.  While buying a property or inheriting one as a gift can be a thrilling experience, there is one crucial step that often gets overlooked. The process of legal title transfer, also known as property mutation, plays a key role in determining the property’s true owner. But what is the process for mutation, and can this process be the key to avoiding ownership conflicts Why is property mutation important? Property mutation is a crucial process that every property owner should be aware of. It involves the transfer of ownership from one person to another, and it is essential for several reasons, such as- Legal ownership:Property mutation establishes legal ownership of the property. It ensures that the property is registered under the correct owner’s name, providing a clear title. Tax assessment:Property mutation is necessary for accurate tax assessment. The local municipal corporation uses the mutation records to determine the property’s value and calculate property taxes accordingly. Property transactions:When buying or selling a property, mutation records play a vital role. Prospective buyers can verify the property’s ownership and ensure that there are no legal encumbrances or pending dues before making the purchase. Inheritance:Property mutation is crucial in cases of inheritance. It allows the legal heirs to transfer the property’s ownership and update the records accordingly, ensuring a smooth transition of assets. Property development:For property development projects, mutation records are necessary to obtain permits and approvals from the local authorities. It helps in establishing the ownership and legality of the property. What are the documents required for property mutation in West Bengal The following documents are required for property mutation- Application formFill out the application form for property mutation, which can be obtained from the local municipal corporation or online portal. Proof of ownershipProvide the original and photocopies of the property documents, such as sale deed, gift deed, or will, to establish your ownership. Encumbrance certificateObtain an encumbrance certificate from the Sub-Registrar’s Office to verify that the property is free from any legal dues or liabilities. Property tax receiptsSubmit the latest property tax receipts to show that all taxes have been paid up to date. Identity proofProvide your identity proof, such as Aadhaar card, PAN card, or voter ID card, to establish your identity as the property owner. Address proofSubmit address proof documents, like electricity bill, water bill, or ration card, to verify your residential address. NOC from housing societyIf the property is located in a housing society, obtain a No Objection Certificate (NOC) from the society stating that they have no objection to the mutation. Who are eligible to opt for property mutation in West Bengal? Eligibility Criteria for Property Mutation Property Owners Only registered owners of the property can apply for mutation. Successors If the original property owner has passed away, the legal heirs or successors can apply for mutation. Buyers If a property has been re-sold, the buyer can apply for mutation after completing the necessary legal formalities. Gifted Property If the property has been gifted, the recipient of the gift can apply for mutation What are the charges for property mutation in West Bengal? Subject Mutation Fee Conditions Applicable Transfer by sale/gift Rs 25 If the property value is less than Rs 10,000 Transfer by inheritance Rs 10, Rs 20, Rs 50, Rs 100 If the annual holding exceeds Rs 200, Rs 500, Rs 1,000, and Rs 5,000 respectively Transfer by Partition Deed 0.10% Mutation fee is charged based on the overall market value of the property How to apply for property mutation in West Bengal? Visit the official Banglar Bhumi website at banglarbhumi.gov.in Select the Citizen Services from the top-right section of the website and select Online Application. Next choose Mutation Application from the drop-down menu. The page will ask you to log in. Click on Sign up and fill out the public registration pop-up form. Next, log in again and fill in your details on the Applicant Description and go to Particulars of Transferrer to add the details of the seller or gift giver. Upload the necessary documents, such as the sale deed, proof of payment of property tax, and identity proof. Now, click on the Online Application menu again and select Fees Payment. Verify the payment status and submit the application. Don’t forget to keep a copy of the payment acknowledgement receipt. FAQs Why is land mutation important? Land mutation is important because: It provides proof of ownership. It enables the owner to pay land taxes. It is essential for property transactions, as it reflects the updated ownership status in official land records. Who can apply for land mutation in West Bengal? Any individual who has acquired property through purchase, inheritance, gift, or any other transfer method can apply for land mutation in West Bengal.

Every LLP is formed to carry on a specific business activity with a motive to earn profit. At the time of incorporation of an LLP, partners have to provide the main object of an LLP. Such object must be mentioned in brief in the LLP agreement. An LLP cannot carry on any business activities which are not mentioned in the agreement.   There is no specific provision in the LLP act regarding alteration of objects of LLP. In the rules, if any changes in the LLP agreement, a copy of changed LLP agreement and particulars of change shall me filed with Registrar. The only provision regarding LLP activity is section 11(2) (c) which is in fact matters covered in the LLP incorporation document. Usually, LLP agreement contain a clause regarding LLP activity and procedures to be followed for changing the activity. Based on the partners understanding, LLP agreement set out  procedures to be followed for altering LLP agreement. After completing the procedures set out in LLP, LLP shall file a copy of revised LLP agreement with respective Registrar of Companies. What do you mean by Object Change? The objects of an Object Change of LLP: Complete Overview LLP define the scope and purpose of its operations. These objects are outlined in the LLP Agreement, which is a crucial document that outlines the rights, duties, and responsibilities of partners, as well as the internal functioning of the LLP. Over time, business dynamics, market conditions, and strategic goals may evolve, necessitating a change in the objects of the LLP. An object change involves altering the activities that the LLP is authorized to undertake as per its initial LLP Agreement. This change can be significant, such as diversifying into new business sectors, or relatively minor, such as modifying the scope of existing activities Why business activities of an LLP require changes? If the partners want to change the business completely.  In case of partners want to add a new product line in an LLP. Kindly note an LLP can carry on only similar business activities. Hence, if the new product line is not related to an existing business then a new LLP has to be incorporated.  If an LLP take over a firm which is carrying on different business activities.  In case the government authorities orders as a result of change in prevailing law.  Whenever such business activity is prohibited under any law. How to Change the Object Clause of LLP? Board Resolution: The process begins with a board resolution. The partners of the LLP should convene a meeting to pass a resolution proposing the object change. This resolution should detail the reasons behind the proposed change, the new activities to be added, and the modifications required in the LLP Agreement. Amendment of LLP Agreement: After passing the board resolution, an amendment to the LLP Agreement is necessary. This amendment should clearly outline the revised objects of the LLP. Partners should review and approve the changes before proceeding. Consent of Partners: All partners of the LLP should provide their written consent to the proposed object change. This ensures that all partners are in agreement with the modifications and understand their implications. Filing with the Registrar: The LLP must file Form 3 with the Registrar of Companies (RoC) within 30 days from the date of passing the board resolution. This form includes the details of the object change, along with the revised LLP Agreement as an attachment. RoC Approval: The RoC examines the filed documents and, if satisfied, approves the object change. The RoC will then issue a Certificate of Incorporation with the updated objects. Implications of Object Change Legal Standing: Once the object change is approved, the LLP can engage in the new activities outlined in the revised LLP Agreement without any legal hurdles. Third-Party Agreements: The LLP must review and amend any existing contracts, agreements, or licenses that were based on its previous objects. This ensures that the LLP remains compliant and doesn’t breach any contractual obligations. Tax and Regulatory Compliance: The LLP should evaluate if the new activities result in changes to its tax liabilities or regulatory obligations. Registration with relevant regulatory authorities might be necessary for certain sectors. Liability and Risk: While LLPs offer limited liability protection, partners should be aware that the new activities might introduce different risks. A comprehensive risk assessment should be conducted before finalizing the object change. FAQs What is meant by an Object Change in LLP? An Object Change in an LLP refers to altering the purpose or business activities for which the LLP was originally formed. This change requires an amendment to the LLP agreement and must be communicated to the Registrar of Companies (RoC) for updating the records. Why would an LLP change its object? Expansion of business activities: If the business wants to enter new sectors or start new services. Diversification: When the LLP wishes to diversify into a different industry or area. Rebranding or restructuring: To align with the LLP’s long-term strategy or goals.