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The Non-Creamy Layer (NCL) certificate, also referred to as the Other Backwards Class (OBC) certificate, is granted to individuals who meet specific eligibility criteria. It was introduced by former Prime Minister V. P. Singh in 1993. Holders of the OBC certificate are eligible for reservation benefits and specific allocations in prestigious universities as well as public and private sector jobs. What is a Non Creamy Layer Certificate? In India’s affirmative action system, certain government jobs, educational institutions, and scholarship programs offer reservation benefits for Other Backward Classes (OBC) communities. But to be eligible for these advantages, an individual from an OBC background must obtain a Non-Creamy Layer Certificate (NCL). The ‘creamy layer’ refers to OBC individuals or families whose economic situation is considered relatively well-off. The NCL certificate essentially verifies that the applicant belongs to an OBC community and comes from a family with a total annual income below a specific threshold, typically set at ₹ 8 lakh (subject to change). Eligibility for Non-Creamy Layer Certificate Citizenship: You must be a citizen of India. Income Criteria: Your parents’ annual income should be below Rs.8 lakhs. This places you in the non-creamy layer of the Other Backwards Class (OBC) category. Parent’s Employment: Either of your parents should be employed as a Group C or Group D Central Government employee. Spousal Consideration: If your husband is a Central Government employee and your parents do not have a stable source of income, you may still be eligible to apply for an NCL certificate. Who is not eligible for the Non-Creamy Layer Certificate If you belong to the Other Backwards Class (OBC) category, you will not be eligible to apply for a Non-Creamy Layer (NCL) certificate if any of the following conditions apply to you: Caste Not Mentioned: If your caste is not included in the Central Government’s list of OBC, even if it falls under Backward Class (BC) or Most Backward Class (MBC). Parent’s Employment: If either of your parents is employed in Group A services of the Central Government, such as IAS (Indian Administrative Service), IPS (Indian Police Service), or IFS (Indian Foreign Service). Income Exceeds Rs.8 lakh: If your parent’s annual income exceeds Rs.8 lakh. Parent’s Employment Category: If your parents are employees of Group B in the Central Government or Group I in the State Government. Basic Requirements You must be a citizen of India. You must belong to an Other Backward Class (OBC NCL) community as recognized by the government. You must not fall under the creamy layer category, which is defined by income and other criteria. Income Criteria The current income ceiling for the creamy layer is ₹8 lakh per annum. This means if your parents’ combined gross annual income from all sources (including salary, agriculture, business, etc.) exceeds ₹8 lakh in the preceding three financial years, you are considered a creamy layer and not eligible for the Non-Creamy Layer Certificate. Some states might have slightly different income limits, so it’s important to check with your local authorities for the specific criteria in your area. Other Eligibility Criteria Employment: If your parents hold certain positions in the government or public sector, it might affect your eligibility. For example, in some states, children of Group A and Group B Central Government officers are considered creamy layer regardless of income. Land Ownership: In some cases, ownership of substantial landholdings could also affect your eligibility. Previous NCL Certificate: If you have already held a Non-Creamy Layer Certificate in the past, its validity period (usually one year) and the reason for needing a new one might be factored in determining your eligibility. Exceptions on Applying for Non-Creamy Layer Certificate While the basic eligibility for a Non-Creamy Layer Certificate revolves around income and caste, there are some exceptions and situations where individuals might not be eligible even if they meet the basic criteria: Caste Categories Non-Central OBC Castes: Castes categorized as Backward Classes (BC) or Most Backward Classes (MBC) in some states might not be included in the Central Government’s OBC list. This means individuals belonging to such castes wouldn’t be eligible for a Non Creamy Layer Certificate, even if they meet other criteria. Parental Occupation & Income Group A Central Government Officers: Children of parents holding positions in Group A services like IAS, IPS, and IFS, regardless of income, are considered creamy layer and cannot apply for the Non-Creamy Layer Certificate. Group B & C Central Government/Group 1 State Government: In some states, children of parents employed in Group B or C of the Central Government or Group 1 of the State Government might also be considered a creamy layer, irrespective of income. Private Sector Professionals with High Income: If your parents are professionals like doctors, lawyers, engineers, or business owners in the private sector and their combined income exceeds ₹8 lakh per annum, you wouldn’t be eligible for the NCL Certificate. Other Exceptions Landholdings: In some states, owning a substantial amount of land could lead to ineligibility, even if income is below the limit. Previous NCL Certificate: If your previous Non-Creamy Layer Certificate was obtained through fraudulent means, you might be ineligible for a new one. Documents required for obtaining a Non-Creamy Layer Certificate Identity Proof (any one document from the following): Aadhaar Card PAN Card Passport Driving License Voter ID Card Address Proof (any one document from the following): Aadhaar Card Ration Card Passport Telephone Bill Electricity Bill Voter ID Card Property Tax Receipt Caste Proof of the Parent or Relative (if parents are not present) Proof of Caste before and after Marriage (if applicable) Proof of Name Change for Married Women (if applicable) Certificate from Muslim Societies (for Muslim applicants) Documents of Home State (if applicable for migration) Applicant’s Photograph How to Apply for a Non-Creamy Layer Certificate Offline Step 1: Obtain the application form from your nearby Tehsildar or Revenue office. Step 2: Fill in the application form accurately with the required information. Step 3: If you have migrated, provide the relevant documents related to your home state. Step 4: If the father is not available, submit a blood relative’s caste certificate. Step 5: Sign the self-attestation section, attach a passport-size photograph, and submit the form along with the necessary documents. Step 6: After

The Government of Gujarat, the AnyROR E-Dhara portal aims to provide easy access to registered land records, including 7/12, 8A, and 8/12 extracts. Users in both rural and urban areas of the State can access the portal for crucial land-related documents, evading the hassle of visiting offices. Gujarat Record of Rights (ROR) is an extract from the land records registers held by the Revenue Department of State Government. ROR contains complete information regarding the land or property and history of holders of land. This revenue document is a vital indicator of the legal status of a land/property. The Gujarat Record of Rights (Khatian) register is maintained in the concerned Revenue Department for every village separately. The government of Gujarat issues certified copies of entries in the record of rights (land records) to residents of Gujarat.  Uses of Gujarat Records of Rights In Gujarat, ROR is used to check the ownership of an ancestral land or any other land. Extracts of ROR or land record can be used to obtain details of land type, and the of activities carried out on land. Gujarat ROR is a vital document to obtain information regarding an agricultural aspect of the land and its surrounding areas ROR or Khatian is required at Registrar’s office when sale transaction of land (mutation) is being done. Gujarat record of rights is one of the mandatory documents to raise farm creditor to get a bank loan The court requires land record proofs in case of any civil litigation. Certified copy of ROR can be produced for this purpose. It is mandatory to check the land record of the seller and ensure his/her ownership of the area while buying property Buyer has to verify the revenue records of the land (ROR) on which the flat is being constructed in case of buying flats. Importance of Gujarat Records of Rights Gujarat Records of Rights (Khatian) endorses the real owner of a land This land record – Khatian is beneficial to find the false claim on the lands Usage of the certified copy of records of rights or extract of ROR avoids land grabbing Gujarat record of rights can be used in court litigations related to property Attributes in Gujarat Records of Rights Details of changes in ownership Nature and limits of owner’s rights and conditions Mutation numbers Details of the loan taken by the land occupant/owner Type of irrigation (irrigated kind land or Rainfed nature) Details about the type of crops planted in the last cultivating season Type of soil (agricultural or non-agricultural) Survey number of the land/Property Area of the earth – Fit for cultivation Details pending loans for buying seed, pesticide or fertilizers Details of charge of attachment and decrees under the order of the civil court or revenue authority Aspects of pending litigations The field in possession of each landowner and the classification of each area are entered from the Dag Chitha Aspects of property tax paid and unpaid Eligibility Criteria The certified copy of Gujarat records of rights (ROR) will be provided only if there is no dispute regarding the land ownership and the concerned land should not Gujarat Government land or assigned land belonging to the State Government. Applicable Fee For obtaining the certified copy of Gujarat records of rights, the applicant needs to pay a fee of Rs.20. Prescribed Authority Revenue Department, Government of Gujarat, is the concerned department for the issuance of certified copy of Gujarat Records of Rights. The applicant requesting for the ROR should apply to the Tahsildar of the concerned Tahasil which is the competent authority. Check Gujarat Khatian Online Step 1: You have to access the Home page of the Any ROR at Anywhere website. Step 2: Select the View land record option from the home page. The link will redirect to new page. Step 3: In the new page, you have to VF8A Khata Details and select concerned District, Taluka from the drop-down menu. FAQs What is Gujarat Record of Rights (RoR) – Khatian? The Gujarat Record of Rights (RoR) – Khatian, also known as ‘7/12’ or ‘Satbara Utara’, is a crucial land document in Gujarat that provides details about land ownership, land rights, and land use. It is maintained by the Revenue Department of the Government of Gujarat. How frequently should the Gujarat RoR – Khatian be updated? The Gujarat RoR – Khatian should ideally be updated whenever there is a change in ownership, use, or any significant event affecting land rights. It is essential to maintain accurate and updated records for legal clarity and property transactions.

The Registrar of Companies (ROC) is an office managed by the Ministry of Corporate Affairs (MCA), that deals with the administration of companies and Limited Liability Partnerships across the country. According to Section 609 of the Companies Act, ROCs are tasked with the principal duty of registering both the companies and LLPs across the states and union territories. ROC also certifies that LLPs comply with the legal requirements that are contained in the Companies Act, 2013. It maintains a registry of records of the companies that are registered with them and permits the general public to access information on payment of a stipulated fee. The Central Government preserves administrative control over the Registrar of Companies with the help of Regional Directors. Any company wishing to operate within legal bounds in India has to get itself registered under the RoC rules and regulations. A company is considered to be a legally registered company when it has received the certificate of incorporation from the registrar. The statutory procedure to register a company requires that the companies submit a wide range of documentation as per the compliance requirements of that particular business structure. These documents include the Memorandum of Association (MoA) and the Articles of Association (AoA). Along with this, companies have to file the pre-incorporation agreement for director’s/managing director’s appointment and a document signed by an authorized individual declaring that the proposed company has met all the compliances and requirements for the company incorporation. After receiving the said documents and authenticating, the registrar of companies inputs the company’s name in their register and releases the certificate of incorporation to the concerned company. Along with the company’s incorporation certificate, the ROC also issues a commencement of business certificate. Every Public Limited Company has to get this certificate before they begin any business activities. What is Registrar of Companies? A Registrar of Companies (ROC) is a governmental authority responsible for the registration and administration of companies and Limited Liability Partnerships (LLPs), under the Companies Act, 2013 and Limited Liability Partnership Act, 2008 respectively. Section 396 of the Companies Act specifies the powers and duties of the ROC, and the Central Government has the power to appoint the registrars along with joint, deputy, and assistant registrars. In India, the ROC offices are established under the Ministry of Corporate Affairs (MCA), and each state and union territory has its own ROC office. The Registrar of Companies ( ROC) plays a crucial role in maintaining transparency, accountability, and legal compliance within the corporate sector. All the registered companies are required to file their registration application with the ROC of their principal place of business and they are required to file the annual filing forms with that ROC as well. ROC maintains all the information about the company and all the changes like changes in logo, change in address, change in place of business, and all such information is to be filed with the ROC and the company has to get the approval of the ROC only then they can administer the changes Functions of ROC Registrar of Companies is liable to register a company in the country. It meets all regulation and reporting of companies and their shareholders, directors and also administers government reporting of several matters, including annual filings of various documents. It serves as an essential role to foster and facilitate business culture. Since every company in a country need the approval of the ROC for its establishment, ROC provides incorporation certificate that serves as the evidence of the existence of the company. Once incorporated, a company cannot cease unless the name of the company is struck-off from the register of companies. ROC also demands supplementary information from any company. It might search the premises and seize the books of accounts with prior approval of the court. The Registrar of Companies also files a petition to wind up a company. Role of Registrar of Companies (ROC) 1. Company Registration: ROC’s crucial role is to take up the responsibility of the registration of new companies in accordance with the Companies Act, 2013. It reviews and approves the documents required for registration, including the memorandum of association and articles of association. 2. Maintain Record: ROC is entrusted with the task for ensuring that companies are appropriately enrolled, and when enlisted they record accounts and other data accurately. ROC check and examine all the documents and information submitted in SPICE+ format. 3. Name Approval: ROC approves and reserves the name which is applied for the registration, a company has to select different names and the name preference is intimated to the ROC, then ROC verifies that the preferred names are not already registered with any other ROC, and if deem fits ROC approves the name to the company.    4. Issuing Director Indentification Number (DIN): ROC has the authority to issue DIN to the directors or designated partners of the company/LLP. DIN is one of the most important authorization given to the director, it is a unique identification number which is provided to directors and designated partners by which they authorize documents, digitally sign agreements, contracts, approves reports, etc. 5. Issuing Certificate of Incorporation (COI): Certificate Of Incorporation (COI) is the proof of formation of company, it’s like the birth certificate of the company which signifies that company is in existence and its separate legal entity in the eyes of law. No company can commence its business operations without obtaining COI. A list of documents is required to be filed with ROC and on satisfaction, ROC may issue COI. 6. Allotment of Corporate Identity Number (CIN): CIN is corporate identity number, which is a unique number allot to the company after incorporation. CIN is also mentioned on the COI, and is used for all the contracts and agreements the company enters. 7. Maintain Register: ROC maintains a register of companies where all the details related to company is available. The ROC also keeps the record of promoters, directors, their addresses, and their details. ROC also maintains details of members and shareholders. 8. Maintains Record of all Alteration: Company might

A partnership firm is one of the popular types of organisations for starting a new business in India. A minimum of 2 partners are required to start a partnership firm. Partners establish a partnership firm through a partnership deed. A partnership deed is an agreement between the partners of a firm that outlines the terms and conditions of partnership among the partners.  A partnership deed, a partnership agreement, is a written document among business partners. It’s a preferred choice among entrepreneurs due to its many benefits. However, running a partnership business involves planning and risk. Disagreements, financial issues, or internal conflicts can jeopardize your venture. Before investing your savings and efforts, it’s wise to sign partnership deed a partnership deed, a legal document that safeguards each party’s interests. What is a Partnership Deed? The smooth and successful running of a partnership firm requires a clear understanding among its partners regarding the various policies governing their partnership. The partnership deed serves this purpose. The partnership deed contains various terms such as profit/loss sharing, salary, interest on capital, drawings, admission of a new partner, etc. in order to bring clarity to the partners. A deed of partnership also known as a partnership agreement is a legal document signed by two or more partners who come together and decide to run a business for profit. The partnership deed helps to resolve any disagreement or conflict which arises between the partners regarding the partnership norms. The purpose of a partnership deed is to give a clear understanding of the roles of all partners, ensuring the smooth running of the operations of the partnership firm. Types of Partnership Deeds General Partnership Deed: The general partnership deed contains the terms and conditions of a general partnership, where each partner shares equal responsibility for the management of the firm business and are jointly liable for debts or obligations. Limited Partnership Deed: The limited partnership deed establishes a limited partnership, which includes general and limited partners. The general partners have unlimited liability for the debts of the partnership firm, while the limited partners have limited liability and do not participate actively in the management of the business. Necessity of Partnership Deed A Partnership Deed, preferably written, holds immense importance for a business. While an oral agreement lacks legal weight, a written deed becomes vital in disputes. The explicit terms and conditions outlined in the deed act as a pre-emptive measure against misunderstandings among partners, defining duties, profit/loss ratios, and the amount invested by each partner. The importance of a partnership deed is rightfully stated, as it minimises the likelihood of conflicts and fosters a clear understanding among business owners. Importance of a Partnership Deed It helps partners to define the terms of their relationship. It regulates the nature of business and liabilities, rights and duties of all partners. It helps to avoid misunderstandings between the partners since all of the terms and conditions of the partnership are specified in the deed.  In the case of a dispute amongst the partners, it will be settled as per the terms of the partnership deed. There will be no confusion between the partners regarding the profit and loss sharing ratio amongst them.   It mentions the role of each individual partner. It contains the remuneration that is to be paid to partners, thereby avoiding any dispute or confusion.  It ensure smooth functioning of the firm as the terms and liabilities between partners are in a written form. Contents of a Partnership Deed The partnership deed contains the following details: Name of the firm- The partners of the firm should decide the firm’s name which adheres to the provisions of the Partnership Act. The firm name is the name under which the business is conducted. Details of the partners – The deed should include details of all the partners, such as their names, addresses, contact number, designation, and other particulars. Business of the firm – The deed should mention the business that the firm undertakes. It may be dealing with producing goods or rendering services. Duration of firm – The deed should mention the duration of the partnership firm, i.e. if the firm is constituted for a limited period, for a specific project or for an unlimited period. Place of business – The deed should contain the principal place of business where it carries on the partnership business. It should also mention the names of any other places where it conducts business.  Capital contribution- Each partner will contribute an amount of capital to the firm. The entire capital of the firm and the share contributed by each partner are to be mentioned in the deed. Sharing of profit/loss – The ratio of sharing profits and losses of the firm amongst partners should be noted in the deed. It can be shared equally amongst all partners, or according to the capital contribution ratio or any other agreed ratio.  Salary and commission- The details of the salary and commission payable to partners should be mentioned in the deed. The salary and commission can be paid to the partners based on their role, capabilities or any other capacity. Partner’s drawings- The drawings from the firm allowed to each partner and interest to be paid to the firm on such drawings, if any should be mentioned in the deed. Partner’s loan – The deed should mention whether the business can borrow loans, the interest rate of loans, properties to be pledged, etc. It can also mention if a partner of the firm can borrow loans from the business or not. Duties and obligations of partners- The rights, duties and obligations of all the partners of the firm should be mentioned in the deed to avoid future disputes.  Admission, death and retirement of partners- The deed should mention the date of admission of the partner, the regulations governing the admission of a new partner, resignation, or changes after the death of a partner of the firm. Accounts and audit – The deed should contain details about the audit procedure of the firm. It should mention the details of how the partnership accounts are to

The main object of the Hindu Succession Act, 1956 (the Act) is to remove inequalities between men and women with respect to rights in property and evolves a list of heirs entitled to succeed on intestacy based on natural love and affection rather than religious efficacy.The Hindu Succession Act of 1956 was passed by the Parliament to alter and codify the law of intestate or unwilled succession among Hindus, Buddhists, Jains, and Sikhs.The Act abolishes the Hindu woman’s limited estate. Any property possessed by a Hindu female is to be held by her absolute property and she is given full power to deal with it and dispose it of by will as she likes.The Act was amended in 2005 by the Hindu Succession (Amendment) Act 2005 (the Amendment Act)The statement of objects and reasons of the Amendment Act explained the purpose for which amendments were made to law concerning rights of women in the following words-“…….The retention of the Mitakshara coparcenary property without including the females in it means that the females cannot inherit in ancestral property as their male counterparts do. The law by excluding the daughter from participating in the coparcenary ownership not only contributes to her discrimination on the ground of gender but also has led to oppression and negation of her fundamental right of equality guaranteed by the Constitution. Having regard to the need to render social justice to women, the States of Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra have made necessary changes in the law giving equal right to daughters in Hindu Mitakshara coparcenary property.”A few sections were omitted by the Amendment Act and there were consequential amendments to section 30X of the Act dealing with testamentary succession by including the rights of a woman also to dispose of by will or other testamentary disposition any property, which is capable of being so disposed of by her in accordance with the provisions of the Indian Succession Act, 1925 (39 of 1925), or any other law for the time being in force and applicable to Hindus. There was also amendment to the schedule of the Principal Act by adding in Class I after the words “widow of a pre-deceased son of a pre-deceased son”, the words “son of a pre-deceased daughter of a pre-deceased daughter; daughter of a pre-deceased daughter of a pre-deceased daughter; daughter of a pre-deceased son of a pre-deceased daughter; daughter of a pre-deceased daughter of a pre-deceased son.”After referring briefly to the Act and the amendments made by the Amendment Act let us shift our focus to section 14 of the Act which has the caption reading as “Property of a female Hindu to be her absolute property.” Section 14 of the Act This section is considered to be a progressive step giving rights of a property to a Hindu female.Section 14 of the Act reads as under-“14. Property of a female Hindu to be her absolute property. — (1)   Any property possessed by a female Hindu, whether acquired before or after the commencement of this Act, shall be held by her as full owner thereof and not as a limited owner.     Explanation.—In this sub-section, “property” includes both movable and immovable property acquired by a female Hindu by inheritance or devise, or at a partition, or in lieu of maintenance or arrears of maintenance, or by gift from any person, whether a relative or not, before, at or after her marriage, or by her own skill or exertion, or by purchase or by prescription, or in any other manner whatsoever, and also any such property held by her as stridhana immediately before the commencement of this Act. (2)   Nothing contained in sub-section (1) shall apply to any property acquired by way of gift or under a will or any other instrument or under a decree or order of a civil court or under an award where the terms of the gift, will or other instrument or the decree, order or award prescribe a restricted estate in such property.” The case of V. Tulasamma (supra) This decision [V.Tulasamma’s case Supra] was rendered by a Bench consisting of 3 Hon’ble Judges – Hon’ble Justice Shri. P.N. Bhagwati, Hon’ble Justice Shri. A.C. Gupta and Hon’ble Justice Shri. Syed Murtaza Fazalali and the main judgment was delivered by Hon’ble Justices Shri. P.N. Bhagwati and Shri. A.C. Gupta and Hon’ble Justice Shri. Syed Murtaza Fazalali delivered a separate but concurring judgment.The propositions emerging in respect of incidents and characteristics of a Hindu woman’s right to maintenance have been crystallised by the Supreme Court at para.20of this judgment as under-“Thus, on a careful consideration and detailed analysis of the authorities mentioned above and the Shastric Hindu Law on the subject, the following propositions emerge with respect to the incidents and characteristics of a Hindu woman’s right to maintenance: (1)   that a Hindu woman’s right to maintenance is a personal obligation so far as the husband is concerned, and it is his duty to maintain her even if he has no property. If the husband has property, then the right of the widow to maintenance becomes an equitable charge on his property and any person who succeeds to the property carries with it the legal obligation to maintain the widow; (2)   though the widow’s right to maintenance is not a right to property but it is undoubtedly pre-existing right in property, i.e., it is a jus ad rem not jus in rem and it can be enforced by the widow who can get a charge created for her maintenance on the property either by an agreement or by obtaining a decree from the civil court; (3)   that the right of maintenance is a matter of moment and is of such importance that even if the joint property is sold and the purchaser has notice of the widow’s right to maintenance, the purchaser is legally bound to provide for her maintenance; (4)   that the right to maintenance is undoubtedly a pre-existing

Residents of Delhi should obtain a domicile certificate Delhi to prove that they are permanent residents of that state. A Delhi domicile certificate helps residents of Delhi to get benefits under various state government services and programmes. The NCT government or the Revenue Department issues the Delhi domicile certificates.  Purposes of Domicile Certificate Domicile Certificate is used to get local preference in many situations. It is required to avail resident based reservations which are made in educational institutes or government jobs, etc. It is also used for students to apply for scholarship schemes aimed at residents of the State. Domicile certificate may also be required by institutions giving loan as proof of place of residence. Domicile certificate eligibility in Delhi The applicant has been residing in Delhi for more than three years. The applicant owns a property in Delhi. Women who are not residents of Delhi but marry a person who lives in Delhi. Documents Required Affidavit as prescribed in Annexure-I of the domicile certificate form. Identity Proof (Aadhar card, Voter ID card, Ration Card, etc.) Resident Proof (Electricity bill, water bill, telephone bill, etc.) A copy of Birth Certificate. Proof of the applicant owning a land. Passport size colour photograph How to apply for a domicile certificate in Delhi? Step 1: Visit the official Delhi Government e-District website. Step 2: Click on the ‘Apply for Certificates Online’ option available on the right-hand side of the homepage. Step 3: Click the ‘Register’ option if you have not registered on the e-District website. Step 4: Select the document type as ‘Aadhaar card’, enter your Aadhaar number and click the ‘Click Here’ button. Step 5: Enter the required details and click the ‘Register’ button.  Step 6: Click the ‘Apply Online’ tab and select the ‘Apply for Services’ option. Step 7: Click the ‘Apply’ button against the ‘Issuance of Domicile Certificate’ from the displayed list. Step 8: Fill in the application, upload the required documents and submit the form. How to get a domicile certificate offline in Delhi? Eligible applicants should visit the office of the Deputy Commissioner,  Sub-District Magistrate,  Common Service Center (CSC), or Sub-Divisional Magistrate and get the domicile certificate application form. They should fill out the form, attach the required documents, and submit it with the applicable fees. The applicants will get the application number.  FAQs Is a domicile certificate compulsory in Delhi? To take admission to educational institutions that have seats reserved for Delhi residents. To apply for jobs giving preference to local candidates, i.e. Delhi residents. To apply for loans from institutions requiring a domicile certificate as proof of place of residence. To apply for state scholarship schemes that require a domicile certificate as residence proof. To apply for resident-based reservations in government services. To obtain benefits under the Delhi state government schemes. Domicile certificate validity in Delhi The validity of a Delhi domicile certificate is lifelong.

A legal heir certificate is an important document upon the death of a family member. It establishes the relationship between the deceased person and his/her legal heirs. Legal heirs of a deceased person are spouse, children and parents.  The legal heirs must apply and obtain the legal heir certificate to transfer the ownership of assets of the deceased person to themselves. A legal heir certificate can be obtained after the death certificate is obtained from the municipality/ corporation to claim their right over the deceased person’s properties and dues.  What is a Legal Heir Certificate? A Legal Heir Certificate is a crucial document that establishes the relationship between the deceased and their legal heirs. It is necessary to transfer the ownership of the deceased’s assets, such as property, bank accounts, and other financial assets, to their legal heirs. Uses of the Document Legal heir certificate will come in handy when there is a requirement to transfer an electricity connection, house tax, telephone connection, patta transfer, bank account, etc. When a government employee is deceased, the certificate is used to sanction family pension and to get a permit for compassion grounds. In addition to this, this document can state the relationship between the legal heir and the deceased which would be required to claim for insurance, pension, retirement benefits, service benefits or other central and state government schemes. Necessary Information Name of the deceased Details of the family members of the deceased Applicant’s Signature Date of Application Residential Address Eligible Nominees Wife of the deceased Husband of the deceased Son of the deceased Daughter of the deceased Mother of the deceased Documents Required An application form that is duly filled. Death certificate Identity card Ration card Death certificate Maharashtra Legal Heir Certificate Application Procedure Step 1: Approach the Taluk Office The applicant has to visit the Tahasildar or Taluk office. An alternate option to apply for the same is when the applicant can approach a lawyer from the District Civil Court. Step 2: Receive the application form The applicant has to obtain the application form from the concerned Tahasildar officer. Step 3: Enter the details The applicant has to enter all the required information in the application form. Step 4: Attach the documents Upon entering the details, the applicant has to attach all the mandatory documents to the application form. Step 5: Affixing Stamp The applicant has to affix a stamp of Rs. 2 in the application form. Step 6: Submit the application The applicant has to submit the application form to the authorised officer in the Tahasildar office. Step 7: Verification Process The application is verified by the Village Administrative Officer and Revenue Inspector. Step 8: Issuing the Certificate After completing all the verification process, the certificate will be issued by the concerned authority mentioning all the legal heirs of the deceased. Fee Structure The applicant has to affix a court fee stamp of Rs. 2 on the application. Processing Time The time taken to process the certificate is 15 days from the date of applying. FAQs Is a married daughter a legal heir? Yes, both married and unmarried daughters are considered legal heirs and have the same rights as sons. Can a person with a Legal Heir Certificate sell the deceased’s property? A person holding a Legal Heir Certificate alone cannot sell the deceased’s property. However, they can proceed with the sale after obtaining written consent and a No Objection Certificate from all other legal heirs.

Prospective investors can think that SIPs and mutual funds are the same. However, SIPs are merely a method of investing in mutual funds, the other method being a lump sum. A SIP calculator is a tool that helps you determine the returns you can avail when parking your funds in such investment tools. Systematic Investment Plan or SIP is a process of investing a fixed sum of money in mutual funds at regular intervals. SIPs usually allow you to invest weekly, quarterly, or monthly.  SIP Calculator is a valuable tool that helps investors estimate the future value of their mutual fund investments made through a Systematic Investment Plan (SIP). By inputting the monthly SIP amount, investment duration, and expected rate of return, the calculator can determine the projected corpus amount at maturity. This tool empowers investors to make informed financial decisions by providing a clear understanding of the potential growth of their SIP investments. What is a SIP Calculator? A SIP calculator is a simple tool that allows individuals to get an idea of the returns on their mutual fund investments made through SIP. SIP investments in mutual funds have become one of the most popular investment options for millennials lately. These mutual fund sip calculators are designed to give potential investors an estimate on their mutual fund investments. However, the actual returns offered by a mutual fund scheme varies depending on various factors. The SIP calculator does not provide clarification for the exit load and expense ratio (if any). This calculator will calculate the wealth gain and expected returns for your monthly SIP investment. Indeed, you get a rough estimate on the maturity amount for any of your monthly SIP, based on a projected annual return rate. How can a SIP return calculator help you? SIPs are a more lucrative mode of investing funds compared to a lump sum amount according to several mutual fund experts. It helps you become financially disciplined and create a habit of savings that can benefit you in the future. A SIP calculator online is a beneficial tool, which shows the estimated returns you will earn after the investment tenure. Few of the benefits of SIP calculators include – Assists you to determine the amount you want to invest in. Tells you the total amount you have invested. Gives an estimated value of the returns. How do SIP calculators work? SIP Calculation Formula  FV = P [ (1+i)^n-1 ] * (1+i)/i  FV = Future value or the amount you get at maturity. P = Amount you invest through SIP i = Compounded rate of return n = Investment duration in months Example of a SIP Calculator Jane is 30 years old and works as an investor. She is thinking about how she can invest money for retirement purposes. So, Jane decides to put money into a mutual fund product via a Systematic Investment Plan. Investment amount: ₹35,000 per month  Investment period: 30 years  Expected interest rate: 8% per annum Frequency of investments: Monthly Result: With the above Formula the SIP Calculator would give following results: Future Value of the investment: ₹5,25, 10,331  Total Investment: ₹1,26,00,000 (35,000 * 12 * 30) Potential Returns: ₹3,99,10,331 (Future Value – Total Investment) Advantages of Using a SIP Calculator Accurate Planning: SIP calculators forecast the future growth of an investment well based on specific input criteria. It includes the amount to be funded, the duration, and the expected return. SIP calculators apply mathematical algorithms. It develops definite approximations so traders can manage their finances. Comparison of Several Scenarios: Changing the components of your inputs in SIP calculators, like amount, duration, and anticipated rate, means that they help users evaluate various investment conditions. They assist them in making informed choices. It is based on their economic objectives. Thus coming up with alternative investment strategies that may result in desirable outcomes. Visualisation of Potential Returns: Through systematic investing, SIP calculators help buyers see how their money can grow. Regarding their investing plans, graphs and charts are also available to help them understand the power of compounding. It enables them to make informed choices. Goal Setting and Progress Monitoring: SIP calculators aid traders in setting attainable financial targets and monitoring their progression towards them. By entering their specific financial goals, such as retirement savings or funding their child’s education, investors can estimate the required investment amount. From there they can see how they progress over time. FAQs Are SIPs similar to mutual funds? People often tend to think of SIP as either mutual funds or different than a mutual fund. The fact is that SIP is just a style of investment and not a fund/scheme or a stock/investment avenue. It is an investment vehicle to invest periodically in a fund/scheme of your choice. How to calculate SIP returns in Mutual Funds? To calculate SIP returns in mutual funds, divide each SIP amount by the respective NAV to get the units, sum all units purchased, and add all SIP amounts for total investment. Multiply total units by the current NAV for current value. Calculate returns using ((Current Value – Total Investment) / Total Investment) * 100

Regulated Entities (RE) must periodically ensure compliance with the RBI’s Circulars and Directives. A streamlined compliance process and thorough internal compliance monitoring are essential. The RBI Circular on 31 January 2024 provided a five-month deadline for a new directive for using technology to have a dashboard in place.  how banks and NBFCs can seamlessly integrate robust monitoring tools and mechanisms for a single dashboard by June 30, 2024. The financial sector is the backbone of any economy, and ensuring its stability and integrity is of paramount importance. As the custodian of the Indian financial system, the Reserve Bank of India (RBI) plays a crucial role in maintaining this stability through comprehensive regulations and oversight. The recent RBI directive (RBI/2023-24/117) dated 31 January 2024 emphasizes the critical importance of compliance for regulatory entities (REs) in India’s financial landscape. This directive aims to strengthen the regulatory framework, enhance financial stability, and protect consumer interests by ensuring REs adhere to established norms. By boosting investor confidence and aligning with global standards, the directive facilitates a trustworthy financial and regulatory environment conducive to innovation and growth, ultimately reinforcing the integrity and resilience of the Indian financial system. What does the RBI Circular 117/2023-24 say The RBI circular RBI/2023-24/117, dated 31 January 2024, directs RE to adopt and implement tools/mechanisms for monitoring all applicable compliances. It advocates that RE deploy a single/unified dashboard for better internal compliance monitoring. The Circular would apply based on the size and complexity of its operations. The tool/mechanism should do the following: Bring all stakeholders on one platform, showing all compliances in one place. Create a workflow for identifying, assessing, monitoring, and managing compliance requirements.  Escalate all non-compliances to the right stakeholder. Have a unified dashboard view for senior management on the compliance position of the regulated entity. Applicability of the RBI Circular 117 Small Finance Banks (SFB) Payments Banks Non-Banking Financial Companies (NBFC) (ML and UL) Housing Finance Companies Scheduled Commercial Banks (SCB) Primary (Urban) Co-operative Banks (Tier III and IV) Credit Information Companies All India Financial Institutions Deadline to comply with the RBI Circular 117 The time limit to comply with the RBI Circular is June 30, 2024. REs are advised to thoroughly review and update their internal compliance monitoring and tracking processes, making necessary adjustments to the existing systems or implementing new systems by June 30, 2024. The importance of compliance Compliance plays a pivotal role in ensuring the stability and trust of the financial system. It safeguards the interests of stakeholders, including customers, investors, and the broader economy. Non-compliance can expose REs to significant risks, such as reputational damage, legal liabilities, financial penalties, and potential regulatory sanctions. Moreover, in an era of heightened scrutiny and public accountability, adhering to regulatory requirements is essential for maintaining the credibility and sustainability of financial institutions. What is Internal Compliance Monitoring? Internal compliance monitoring is the act of continuously assessing within the RE whether it is complying with the regulatory requirements, including internal policies and specific industry standards. Its goal is to help enterprises achieve consistent regulatory compliance and avoid non-compliance. Internal monitoring of compliance assures that your team follows company policies and procedures. While internal auditing ensures that the necessary controls are in place, it’s through monitoring that one can determine whether or not staff are following those controls in their daily activities. This helps enterprises guard against liability, data breaches, and costly penalties. FAQs What is the RBI’s Single Dashboard Circular? The RBI’s Single Dashboard Circular is a regulatory directive aimed at streamlining the internal compliance monitoring of banks and Non-Banking Financial Companies (NBFCs). It mandates the implementation of a unified dashboard to oversee and manage compliance activities effectively. What is the purpose of the Single Dashboard? The Single Dashboard aims to enhance the efficiency and effectiveness of compliance monitoring within banks and NBFCs. It provides a centralized platform for tracking compliance activities, identifying potential issues, and ensuring timely resolution.

Business restructuring is a comprehensive process be it financial or technological or market or organisational. There are various modes by way of which it can take place such as re-organisation of capita, compromise/arrangement, merger/amalgamation, demerger, acquisition/takeover, slump sale, strategic alliance and such other similar modes. The primary motive behind undertaking any such rearrangement would be to prosper both in size and profits. The corporate restructuring process can be either be by any of the much traversed gradual way or a much faster way of selling off the business undertaking. Here it is important to note that the sale can happen in two ways, one is an entity sale and the other is an asset sale. The type of sale is determine which items of the business shall form part of the ownership transfer. A buyer is benefited from an asset sale by availing the depreciation benefits early and avoiding acquiring the former company’s liabilities. However, from a seller’s perspective an entity sale is preferable so as to pay taxes at a low long-term capital gain rate, as compared to the higher ordinary income tax rate applicable on asset sales. Re-organizing the business whether financial, technological, organizational by way of merger, amalgamation, arrangement, compromise, demerger, acquisition, takeover, strategic alliance or slump sale is a complicated and a lengthy process. Business Transfer Agreement Business Transfer Agreement is an agreement executed by and amongst the transferor and the transferee company to by way of executing a slump sale where every asset and the liability of one or more units transferred, sold, leased or assigned to any other for the lump sum consideration. This type of agreement provides ownership of other businesses. As per section 2(42C) of Income -tax Act 1961, ‘slump sale’ means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales. Purpose behind restructuring of business through Slump Sale is as follows:- Growth & betterment of the business Reaching out to the better profits. Reorganizing through slump sale attracts stamp duty only on immovable properties. The transferor has to pay a certain amount of capital gain arising from such transfer. Elements Which Requires Deep Understanding Before Executing Business Transfer Agreement Sale of any part of the undertaking Transferring the undertaking on a going concern basis Payment for such transfer should be in lump sum consideration Transfer assets & liabilities of that undertaking which will be transferred Importance of Business Transfer Agreements It helps in improving the business performance post-integration. It helps in facilitating the strategic investments. It helps in availing of tax and the regulatory advantages associated with the business. It helps in improving the focus on core areas and also helps in optimizing operational synergies Contents of Business Transfer Agreement Schedule of the Assets Schedule of the Liabilities Detail of the creditors List of the contracts List of the employees Lump-sum consideration involved Details of the total intellectual property Name of the parties Address of the parties Pending suits and cases under authority, if any Closing date Modes of Execution of Business Transfer Agreement Agreement to sell: It is only the way in which respective business undertaking is to be sold shall be laid down. The agreement executed itself does not result in  transfer of the undertaking on immediate basis, rather it is an underlying agreement whereby the intent of parties is laid down giving effect to an intended slump sale and the actual sale is carried out by diverse agreements/documents. Therefore, it only remains as an indication of the intention, effectuated by the subsequent binding documents. Deed of conveyance: It is the agreement or the Deed which leads to the sale of the business undertaking and the payment of consideration received for the undertaking. In this type of document, parties agrees to transfer the said undertaking and actually effects the transfer of undertaking. FAQs Does Agreement to sale means transfer of undertaking? No, Agreement to sell doesn’t mean the transfer of undertaking, it is merely an instrument where the intention of parties is laid down and parties mutually decide to reach a certain decision of purchase or sale of undertaking. What are legal and stamp duty implications? Business Transfer Agreement becomes legally binding when it is printed on judicial stamp paper or an e-stamp paper which is to be signed by both the Transferor(Vendor) and the Transferee(Purchaser), and has been dated. The value of the stamp paper depends state to state in which it will be executed. Each state in India has different provisions in respect of the amount of stamp duty to be paid.