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letscomply · 3 years
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What is a Sole proprietorship registration? What are the merits and demerits of it?
Sole Proprietorship Features, Merits and Demerits
Sole Proprietorship Features, Merits and Demerits- It is said to be one of the oldest traditional entities in India, and individual ownership is very common. For example, the grocer, the chemist, etc. are the entire only owner. In this topic, we will take a brief look at this type of business, which covers:
1.   What is individual property? What are the characteristics of individual property?
2.   What are the advantages of individual ownership?
3.   What are the disadvantages of individual ownership?
As the name implies, individual ownership is a commercial enterprise managed by one person. Therefore, at the head of the said commercial establishment, there is one natural person who manages and owns the entire commercial affairs arising in that company and therefore is known as the sole owner. In this article, we will briefly address the nuances of individual ownership. Sole Proprietorship Features, Merits And Demerits
We will cover the following topics:
What is the meaning of individual property, and what are its characteristics?
Individual ownership means a company that is run and owned by one man called the sole owner, or simply put in a “one-man commercial organization.” In Hindi, individual ownership is written as the concept of company and owner as two distinct legal entities that do not apply in the case of individual ownership. Work and man are similar, and it is not a separate legal entity. MSME Government is one of the originators that fill the registration of the online property company in India. Usually, individual ownership should not be combined or registered. Of this, it is considered the simplest form of business organization, and it is often preferred to run a small or medium-sized business. It is simple to set up and the nominal cost. The special features of individual ownership are as follows: Sole Proprietorship Features, Merits And Demerits
1.   Less legal formalities: There is no separate law or statute that governs individual property, and therefore many rules and regulations do not apply. The biggest plus is that it does not require incorporation or registration of any kind. All you need to acquire a single property that works is a license. Just like incorporation, even in the case of business closings or terminations, there are no legal, technical aspects. Therefore, it is a hassle-free business.
2.   Unlimited Liability: Because individual ownership does not distinguish between a business and its owner, liability is not limited in nature. If the company is unable to fulfill its own obligations, it is the owner’s responsibility to pay it. You may have to sell all of his personal assets (such as his car, home, other property, etc.) to fulfill work obligations. This is often seen as a defect.
3.   Risks and Profits: Since individual ownership is characterized by the unlimited responsibility of the owner, the owner becomes the only risk carrier in the business. Since he is the only one financially invested in the company, he must also bear all the risks. If the business fails or suffers from losses, he will be the victim. On the other hand, regardless of the size of the profit, everything goes into the pocket of the sole owner. There is no obligation for him to share his profits with anyone; technically, there is no one other than himself in the management positions of the company.
4.   No separate identity: Speaking legally, one must bear in mind that in the case of individual ownership, there is no difference between the identity of the facility and the owner, it is one and one. Therefore, the owner will be responsible for all business activities and transactions. Legally, the company and the owner are one.
5.   Continuity: The continuity of the work depends entirely on the life of the owner. If the owner dies, retires, is imprisoned, or goes bankrupt. In most of these cases, the ownership ceases, and the business ends.
6.   Advantages:
7.   Full control: Full control over the entire business, allowing rapid decision-making and complete freedom to do business according to their wishes.
8.   No legal procedures: Legal, technical aspects are the minimum if there is no law requiring individual ownership to publish their financial accounts or any other such documents for any member of the public. This allows the business a great deal of secrecy that is sometimes important in the business world.
9.   Maximum benefits: The owner derives the maximum incentive from the business. He does not have to share any of his earnings. So the work that puts it into action is completely answered in incentives.
10.               There are no unnecessary procedures: not many people participate, and thus it cuts down the hierarchy procedures that are generally present in the company. Managing your own business projects has its own advantages as if you are not responsible for anyone who is not responsible for your profit share or asks someone to bear the loss for you.
Disadvantages:
1.   On the other side of having all the profit for yourself, is that in the event of any loss incurred by the business, you are the only person who has to bear it. Legally, you have unlimited liability to make a good loss to the organization. Therefore, if a business fails, in order to recover from the loss, you will have to keep all of your personal wealth and assets at stake.
2.   Moreover, because it is a one-man capital investment company is also relatively low. In some cases, the owner’s personal savings and money that he can borrow may not be sufficient to expand the business. Banks and financial institutions also warn against sole lending ownership of the risks involved and limited guarantors.
3.   There is a great deal of risk associated with the life of a commercial entity as it is completely related to its owner. Therefore, if the owner is helpless in any way, this has a negative impact on the business, and may even result in the closure of the business. Individual ownership cannot continue without its owner.
4.   It is often very unrealistic to assume that a single owner is given all the administrative capabilities necessary to run a business effectively. In some cases, he may not be able to gain the expertise necessary to perform his duties efficiently and effectively. Moreover, the nature of individual ownership often ends up with very limited resources, which limits the ability to employ competent people to assist him in certain technical tasks. Owner/manager stamps are used to stamp stamps on billing books and check purposes.
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letscomply · 3 years
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What is trust registration in India?
Trust Registration In India All You Need To Know About It
Trust Registration in India All You Need to Know about It- Trust funds play a major role in the Indian context as an important engine for intergovernmental negotiations. These funds carry out charitable activities related to public welfare, such as the provision of medical assistance, education, and other basic needs of the disadvantaged, etc.
What is confidence?
The Indian Trust Act 1882 defines “trust” as an arrangement in which the owner transfers the property to another person (trustee) for the benefit of a third person, called the beneficiary. Trust funds are classified into two branches
Public confidence – in such confidence, the audience is the primary     beneficiary. These trust funds can be categorized into general religious     trust funds and general charitable donations.
Private Trust – The beneficiaries of this trust are mainly individuals or families.
Trust recording
In today’s world, the spirit of social and rural initiatives is growing, and socio-economic turmoil is receiving more attention. As a result, the prevailing NGO ecosystem in India is heading for comprehensive reform. Trust funds are seen as important catalysts for driving sustainable development in India, and various government and legal benefits are doing provided to registered trust funds. Therefore, you must register your confidence so that you can unlock these benefits. Here, we will mention some things that you should know about the confidence registration process in India. You can do confidence registration online as well. Trust Registration In India
Before registering your confidence, you should be clear about the following indicators
Name of the Secretariat – Your trust name must comply with the provisions     mentioned in the Banners and Names Act 1950
The goal of honesty – be it religious or charitable
Confidence Formation – At least two trustees are required to form a trust. There is no restriction on the maximum number of trustees. However, trustees must be over 18 years old with valid proof of identity.
Formulating a trust document or     memorandum of association (MOA) for your trust – the Ministry of Defense defines the relationship     between trustees and trustees and confirms the goals that constitute that     trust. The Ministry of Defense must contain the names, occupations,     addresses, and signatures of all members.
On the other hand, a trust document includes trust rules and regulations and is largely legal evidence of trust. This document also indicates information about changes to laws and additions/deletions of trustees, if any. Two witnesses must be present at the time of signing the instrument.
The trust voucher must also contain the information listed below –
Specific clauses relating to trustees, settlers, members and members, members of the General Assembly, and registered office
The bank account details associated with your trust
The date of implementation of the title deed
Organizing several meetings every year.
The documents required to register confidence
Trust voucher on stamp paper – The value of the stamp     sheet is a certain percentage of the total value of the property that     belongs to the trust. The percentage varies from state to state.
Proof of Identity – Self-certified copies of Proofs of     Identity for Trustor and Trustees (Passport / Voter ID / Aadhar Card / Driving License)
Registered Office Address Book – Property Registration     Certificate or Utility Bill Copy (Water Bill / Electricity Bill)
NOC from the landlord – for the rental property
Passport-sized photos of the Trustor, trustees, and     witnesses present while signing the ownership document.
Additionally, you need to pay 1,100 rupees at the time of registration. From this, Rs 1000 is charged with maintaining a trust document copy with the sub-registrar, and Rs 100 is the official registration fee. After submitting the papers, you can receive the approved copy of your trust document from the registrar’s office within a week. You can submit the same thing, along with photocopies, to your local registrar. The registrar then keeps copies and returns you to the (original) registered trust. After at least seven working days, subject to the completion of formalities, the official certificate of confidence registration will be delivered to you. Please note that there may be an unannounced visit by government officials accredited within these seven days to verify your office address.
Note:
The process of registering confidence in India is somewhat easy and requires less documentation compared to other countries. Trust registration has become a useful channel when it comes to succession and property planning.
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letscomply · 3 years
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What is the Sectors Where FDI Is Permitted in India?
What Are the Sectors Where FDI Is Permitted in India- Over the past few years, many changes have been made to FDI. A few days ago, there was a news report. The government is looking to ease the flow of foreign money into the Indian economy. What is the foreign direct investment? What are the ways for that? What are all sectors where foreign direct investment is permitted? Let’s take a look
What is the foreign direct investment?
Foreign direct investment is an investment made by an individual or company from one country to another country for any commercial purpose/interest. The plan is also a major source of cash for the country, and the rules for foreign direct investment regulate the flow and exchange of foreign currencies to and from India. Since the economic crisis in 1991, the liberalization of the Indian economy has taken place, which has resulted in a periodic increase in foreign direct investment over the years. This has resulted in the birth of more than one crore job in India and has been of great benefit to the country’s economic stability.
The growth in foreign direct investment has been phenomenal in India, to the point that in 2015, according to a study by the Financial Times, India surpassed both China and the United States as the largest accumulator of foreign direct investment, attracting $ 31 billion in investment. Here is a look at all of the sectors in which India permits FDI.
Foreign direct investment methods
In the first place, there are two ways in which India attracts foreign investment. :
Automatic route: This allows foreign direct investment to enter the country without prior approval from the government or the Reserve Bank of India.
Government Road: This method requires prior government approval, and therefore, the application must be submitted through the Foreign Investment Facilitation Portal. This platform operates on a one-window removal system and allows approval for the required FDI application. The request is sent to the relevant ministries through the portal, and the minister submits the request according to the established procedures.
The Foreign Investment Promotion Board was entrusted with the responsibility of overseeing the entire procedure and was charged with approving the correct investment requests. But this agency was canceled in May 2017 after it held its 245th meeting in April. The central government took a step to abolish this agency.
Since 2017, the relevant ministries have undertaken all work related to processing FDI applications and ensuring their approval. The concerned departments will share this responsibility with the Department of Promotion of Industry and Internal Trade and the Ministry of Trade. The Ministry of Commerce has been tasked with developing a standard operating procedure to process these requests in accordance with the FDI policy. What Are The Sectors Where FDI Is Permitted In India
Allowed sectors
Now that we know how foreign direct investment flows into India, let us look at all the sectors that are allowed to accept foreign investment in accordance with the foreign direct investment policy and what ways these investments can take.
1- Agriculture and animal husbandry: 100% automatic
This includes:
Planting     flowers, gardening, vegetables, fruits, and growing mushrooms
Seed     production
Any form of animal husbandry (including dogs)
Basis     culture
Aquaculture
Bee     planting
Agricultural     services
2- Air transport services:
Unscheduled     – 100% automatic (helicopters and water planes)
Scheduled     – up to 49% automatic and the rest by the government (local and regional     services)
Aviation     Services – 100% Automatic
3- Asset Rebuilding Firms: 100% automatic
The aforementioned company must be registered with the RBI in accordance with Article 3 of the SARFAESI Act 2002.
4- Automotive and auto components: 100% automatic
5- The banking sector:
Private: up to 49% automatic, the rest by the government
Public: 20 percent through the government
6- Biotechnology:
Brownfield     – up to 74% automatic and the government contributes the rest
Greenfield – 100% automatic
7- Broadcasting:
Non-news     – 100% automatic
DTH,     Teleports, Cable Network, Mobile TV, HITS- 100% automatic
FM     and news channels – 49% government
Digital Media – 26% of the government
8- Goods:
Good     capital – 100% automatic
Wholesale     – 100% automatic
Chemicals     – 100% automatic
Coal and Lignite – 100% automatic
100% electronic – automatic systems
Duty-Free     Shops – 100% Automatic
Food     processing – 100% automatic
E-commerce – 100% automatic
Food     products – 100% government
Precious     stones and jewels – 100% automatic
Leather – 100% automatic
Manufacturing – 100% automatic
Medical     devices – 100% automatic
Mining – 100% automatic
Titanium Mining – 100% Government
Multi-brand     retail – 51% government
Oil     and Gas – 100% automatic
Oil     refining – 49% automatic
Farm     – 100% automatic
Shipping     – 100% automatic
Rail     infrastructure – 100% automatic
Roads     – 100% automatic
Textiles     – 100% automatic
Thermal     energy – 100% automatic
Tourism – 100% automatic
9- Construction:
Township     -100% automatic
Hospitals – 100% automatic
10.               The investment company:
Basic     – 100% government
11- Defense: up to 49% automatic and the rest by the government
12.               Health care:
Brownfield     – up to 74% automatic and the rest is government
Greenfield – 100% automatic
13- Insurance:
Up to 49% automatic and the rest by the government
14- Pension: 49% automatically
15- Pharmaceutical Preparations:
Brownfield     – up to 74% automatic and the rest through the government
Greenfield – 100% automatic
16- Print media:
Scientific     Journals, Journals, and Periodicals – 100% government
Newspaper – 26% government
Restricted sectors
the     lottery
Gambling     and betting
Casinos
Shit     boxes
Nidi     Companies
Convertible Development Rights
Real     estate business
Build     a farmhouse
Cigars, cheer, cigars, cigarettes, and tobacco substitutes
Also, the following sectors will not be able to benefit from private investment – atomic energy and rail operations.
Deposit to obtain government approval
Deposit: The application must be submitted online, and the required documents must be submitted online, through the Foreign Investment Facilitation Portal.
Internal Procedure: The portal then sends the request to the concerned departments within two days. A copy must also be sent to the RBI to verify FEMA compliance. Foreign direct investment from Pakistan and Bangladesh also require the approval of the Ministry of Interior. By the end of 4 weeks, the ministers will give their judgment, and the process will go ahead. If they are unhappy, they may ask for clarifications that must be provided within a week. For FDIs exceeding 50 billion riyals, the application must be approved by the Economic Affairs Committee.
Approval: Once all     comments are considered, the application is approved, and the entire     process takes up to 8 weeks.
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LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India, and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, I.P. Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
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Foreign Investment in India| Setting-up of Business in India |Virtual CFO| Virtual General Council| Income Tax | GST Registration & Returns |Trademark registration | Company Registration | LLP Registration |NGO| Company Annual Compliances | Drafting & Vetting of Agreements |Opinion & Advisory on Different Issues| FSSAI Licenses| ESI & EPF | ISO certification |Shop & Establishment Registration |MSME Registration| SEIS/MEIS Services| DGFT| Legal Notices
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letscomply · 3 years
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What is the Shop and Establishment Act Registration Required?
Every state has its own shops and establishments Act. Every shop and establishment registrations is required to register itself under the Shops and Establishment Act in their respective state within 30 days of commencement of work, whether or not it has employees. The Shops and Establishments Act regulates conditions of work, lists the rights of employees in the unorganized sector and provides a list of obligations for every employer.
Shops and Establishments registration in India requires a process to be complied with and the organization applying for Shops and Establishments registration must be registered in a particular state where it is located.
Brief Background
To keep in check the rules, regulations, working conditions and organization of place of work Shop and Establishment Registration came into force. It applies to all shops, commercial establishments, eateries, restaurants and other places used for commercial purposes. Along with the above-mentioned responsibilities, it entails the rights of employees at the place of work along with the duties of the employer towards the employee regarding the workplace situations. Primary and fundamental proof of the existence of a business is Shop and Establishment Registration, which is governed under The Shops and Commercial Establishments Act. Any new shop or commercial establishment needs to be registered for the commencement of the business. It is a must for every shop and foundation to enlist oneself within 30 days of commencing under this act irrespective of the business being fully functional or not.
Benefits
Benefits of getting the shop and establishment registration are:
1.   No Tax Filing: After being registered, the shop or establishment having business need not file for return like GST, PF.
2.   It gives legal recognition to the business as it acts as a document of authenticity by acting as a government issue license to the business owner.
3.   Acts as a proof of business which is required by other registration processes for a business and opening a current account for the business in the bank.
4.   For investment and exposure in business, they need license as an identity proof.
Documents
Here is the list of supporting documents which needs to be scanned and uploaded on the portal are:
1.   In case of old user, fee receipt.
2.   ID proof of the person filing the application like Aadhar Card, PAN Card, Passport or Driving License.
3.   Digital Signature
4.   Passport photographs
5.   Annexure C given on the portal.
6.   Annexure A, format given on the portal, self-declared.
7.   Annexure B, format is given on the portal, self-declared.
8.   Annexure for the establishment of the premise.
Procedure
Procedure to get the shop or establishment registered is:
1.   Go to the official website of state Government and select the registration criteria either as an individual or an organization.
2.   Register your mobile number to obtain OTP and other verification details (like Email ID) and provide the details on the portal.
3.   Fill the mandatory details.
4.   Complete the steps sent to your email ID for completion of your registration.
5.   Login and register for the service required under Shops and Establishment.
6.   Fill form A and submit the form online.
7.   Fill the details and upload the required documents that are mentioned above.
8.   Pay the registration fee.
9.   After minute and detailed checking of the documents, your certificate will be available on the portal which can be accessed and downloaded with your ID and Password that was created earlier.
Other Information
Before the registration is finalized and certificate is given after full checking, there are minor things that must be kept in mind by the applicant: Shop & Establishment Registrations
1.   Visit at commercial establishment by an official for inspection.
2.   The certificate should be placed at a place easily visible and accessible.
3.   Renewed before expiry with updated details.
4.   Any change in details or the establishment should be informed to the inspection official within 15 days of the change.
One needs to note that there are states where online facility is not available in that state we need to move the application through offline mode only.
How we can help:
LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India, and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, I.P. Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
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letscomply · 3 years
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What is the Tax Deducted at Source (TDS)?
TAX DEDUCTED AT SOURCE- TDS
Tax Deducted at Source-TDS- Tax Deduction Account Number (TAN) is a one of its kind 10 digit alpha-numeric code allotted by the Income Tax Department to all those persons who are required to deduct tax at the source of income. It is mandatory to quote TAN on all TDS returns or any TDS reimbursement challan. These applications are digitized by NSDL and forwarded to the Income Tax Department like the PAN applications. The Income Tax Department will issue the TAN, which will be closed to NSDL online. On the foundation of this, NSDL will issue the TAN letter to the applicant.
As per Section 203A of the Income Tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN. Section 203A also makes it mandatory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, TDS/TCS certificates and other documents as may be prescribed. Failure to apply for TAN or not quoting the TAN in the specified documents attracts a penalty of Rs. 10,000/-.
The entities that have TAN registration must file TDS returns quarterly. Tax Deducted at Source-TDS
LetsComply can help you compute TDS payments and file for TDS returns in compliance with TDS regulations.
PROCEDURE FOR FILING TDS RETURNS:
HIGHLIGHTS OF FSSAI LICENSE
COLLECTION OF DOCUMENTS We will collect the necessary documents for the preparation of TDS return
COMPUTATION OF TDS We will compute and prepare the TDS return and send for your approval
FILING OF TDS RETURNS After the approval, we will file TDS return with the Income Tax department
How we can help:
LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India, and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, I.P. Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
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letscomply · 3 years
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What are Income Tax Returns?
INCOME TAX RETURNS
Income Tax returns are required to be filed if the gross total income exceeds the basic exemption limit. For the year ended 31st March 2019, the basic exemption is Rs. 2.5 lakhs for an ordinary individual, Rs. 3 lakhs for an individual over 60 years and Rs. 5 lakhs for an Individual above 80 years.
After collecting all the needed documents and verifying all the taxes that are deducted from the income, the total income chargeable to tax is computed. The word gross total income is not the same as the income on which your tax liability is calculated. Gross total income is the income calculated before any deduction under Sections like 80 C, 80 CCC, 80 CCD, 80D,80DD, 80DDB 80E, 80EE, 80G and 80 GGA, 80U and 80 TTA is availed.
In case you are required to file a return as discussed, the due date is July 31. The due date is applicable generally in the case of individual taxpayers. However in case you are carrying on a business and your accounts are required to be audited, the due date gets extended till 30th September. Even for the people who are working partners in partnership firms, whose accounts are audited, the due date is 30th September.
Income Tax Returns
The Income Tax Department has notified various ITR forms for different Taxpayers who are based on the source of Income of different taxpayers. This is done in order to create a simple tax structure in our country. Based on the source of Income, a taxpayer chooses ITR form and file his/her return. The return is required to be filed every year subsequent to the year of Income. Now the details of PAN and Aadhaar card is mandatorily required to be furnished with the department while filing the ITR return. There are various forms like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 which is required to be filed by the different Taxpayer. However, it is to be noted that it is not mandatory to file the return by all taxpayers, this is only the certain individual having threshold income more than as prescribed under the Income Tax Act who are required to submit the Income-tax return. The return must be filed before the due date in order to avoid late fees and penalties. Further, aforesaid forms are designed for different taxpayers and it shall be processed by the income tax department accordingly.
ITR FORM 1
ITR Form 1 is a small and simple form for individuals who are having Income upto Rs. 50 lakh through below sources of Income ie., from:
1.   Salary/Pension
2.   House Property
3.   Income from Other Sources
ITR FORM 2
A Taxpayer who is deriving their Income from sources except for form “Profits and Gains from Business or Profession. Hence, one can say that Taxpayer who is earning Income from the following source is required to file ITR Form 2.
From Salary or from Pension
From any Foreign Assets
From House Property
From Capital Gains/loss which can be Short Term or Long     Term
Income from Other Sources
From Agricultural if Income exceeding Rs 5000
Resident not ordinarily resident and a Non-resident
All Directors of any listed and unlisted companies
ITR FORM 3
A taxpayer who is deriving their Income from “Profits and Gains from Business or Profession. Hence, one can say that a Taxpayer who is earning Income from the following source is required to file ITR Form 3.
From House Property, whether single or multiple.
From any Foreign Assets.
From Capital Gains/loss which can be Short Term or Long     Term
If the Taxpayer is a company or carrying out Business     through a firm.
ITR FORM 4
ITR Form 4 is to be filed by individuals or HUFs or Partnership Firm whose total Income includes:
All business income computed in accordance with provisions of Sections 44AD and Section 44AE of the Income Tax Act.
All Income from any Profession computed in accordance with provisions of Sections 44ADA
Income from Salary or from pension but up to Rs 50 lakhs.
Income from One House Property.
Income from Other Sources
ITR FORM 5
The ITR FORM 5 is design for Taxpayer as shown below
Firms,
Limited Liability Partnerships(LLPs),
AOPs & BOIs,
Artificial Juridical Person,
Cooperative society and Local authority, who do not     file the return under section 139(4A), 139(4B), 139(4C), 139(4D)
ITR FORM 6
WHO IS ELIGIBLE TO FILE THE ITR FORM 6
As discussed above, every company which has not claimed any exemption as provided under Section 11 of the Income Tax Act, 1961 can file the ITR Form 6. Hence we can say that if you are a company and has not claimed exemption as provided under the provisions of the Act. It is interesting to notice that the ITR Form 6 do not have any annexure means it is an annexure less form. There is no requirement of any attachment while filling and filing the ITR Form 6.
ITR FORM 7
WHAT IS ITR FORM-7
The ITR Form-7 is to be filed by all taxpayers which includes a Company, any firms, AOP, and also other organizations that falls under the Section 139 (4A), Section 139 (4B), Section 139 (4C) and Section 139 (4D).
Section 139 (4A) of the Income Tax Act, 1961 provides for aforesaid Taxpayers which are getting their Income from any properties involved in religious or charitable purposes.
Section 139 (4B) of the Income Tax Act, 1961 provides for aforesaid Taxpayers which is a Political party. As we know that Political parties are exempted from any levy of tax as provided under Section 13A of the Income Tax Act, 1961 however, it is applicable only if Political party filed the Income tax return in ITR Form-7.
Section 139(4C) specifies following Taxpayers who required to file ITR Form-7.
Any News Agency
An Association involved in Scientific research
All Institutions as categorized under Section 10(23b)     of the Income Tax Act, 1961
Any Associations / Institutions as mentioned under     Section 10(23a) of the Income Tax Act, 1961 and
Various Funds, Universities, Institutions, any     educational institution, and medical institutions including a hospital
Section 139(4D) provides for educational institutions which are not covered above shall file ITR Form 7.
ONLINE/ELECTRONICALLY FILING OF ITR FORM 7:
The ITR Form 7 can be furnished online, for this one needs to login to the account which shall be prepared on the website of Income-tax department and shall be verified. Thereafter, an acknowledgment shall be send to the registered email id of the Taxpayer. The online return can be verified through Aadhaar OTP/EVC. The Acknowledge can also be sent physically through post at the below address:
Income Tax Department
Post Bag No. 1, Electronic City Office, Bengaluru, 560500, Karnataka.
Every year ITR Form 7 has to be filed on or before 31st July of the subsequent year. Thereafter, the late fee shall be levied. Here is a tabular representation of late fees for easy understanding::
Filing Date
If Income is Below 5,00,000/-
If Income is Above 5,00,000/-
31st July 2019
00
Between 1st August to 31st Dec 2019
1,000/-
5,000/-
Between 1st Jan 2020 to 31st March 2020
1,000/-
10,000/-
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What is Property Title Search?
What is a Property Title Search?
In real estate, there are risks associated with property rights in the property. In different words, a property title search is a search of all title records applicable to a selective property to determine if the current title is good. They involve written documents, such as deeds and mortgages, tax, probate records, and marriage and any other document that may influence the title of a property.
For example
Leah buys a house from Dave Leah asks Dave if there is any outstanding debt against his property. Dave assures her that the property is free and clear of any obligations. To check whether Dave’s statement is correct, Leah orders a title search.
Search Address ID
In real estate, the title represents a set of rights that belong to the landlord. Property rights may include the right to live, rent or sell a home. A legal title is a legal document that transfers property rights from one owner to another. These rights can be hampered by obligations caused by the current or former owner. These types of obligations are called burdens. Obligations include liens, taxes and unpaid mortgages on real property. They are included in legal documents filed in courts and registrar offices.
To go back to our example, suppose Leah is getting a mortgage loan to finance the purchase of the property you want to buy from Dave. Lea and the mortgage lender will get a property insurance policy. This policy will protect their property rights. This type of real estate transaction will generally require a full address search.
Although title deeds are public records and accessible to anyone, professional title seekers are skilled in identifying and organizing the specific information required for different types of real estate transactions. To perform a full or current owner address search, the searcher will usually identify the following public records:
• Case law – When filing a lawsuit, judgment or mortgage, the researcher will find court records of outstanding obligations or lawsuits that may become subject.
• Mortgages- Many people purchase real estate through financing provided by mortgage lenders. A mortgage is a voluntary lien against property ownership. Researchers look for mortgages that have not been fully paid (or satisfied).
• Marriage licenses and divorce decrees – names appearing on the title can be changed through marriage, divorce or court order. Marriage licenses and divorce decrees will provide evidence of name changes affecting marital property rights.
Death certificates and property deposits – If the landlord dies and the address is transferred through a property, the search will obtain proof of death or deposit of the property.
• Domestic Relations – In recent years, many states have enacted legislation that automatically places property and personal property of persons who owe overdue obligations to the child.
• Address Series – The address string is a historical account for each owner of a particular property. A chain is created each time a title deed is registered. For example, Dave bought a property and got an instrument from Mary. Mary bought the property and received a bond from me. Buy me the property and get a bond from George. Each instrument represents a link in the property chain. When the verb is incorrect or missing, it causes a break in the string.
• Cloud on Address – When a string of address is broken, it is called a cloud on the address. When there is a cloud on the title, it is dangerous to the current and future owners of the property because the title insurance companies will not want to defend the title against losses. When problems such as these arise, they are usually dealt with by a quiet address.
A quiet property procedure is a lawsuit that fixes a broken chain of ownership by a court decision.
Initial Report Report
Once the search for records is complete, they are grouped into a report. This report is referred to as a title report and includes the date and time the search was completed. The date and time are included because address records can be changed at any time. If a new property owner receives an instrument and records it in the public records, he immediately changes the status of the address. The title report is sometimes summarized in the title summary. Title Summary is a historical account of each recorded document that affects the title of the first owner. Although the title summary includes a certificate in the title case, lenders will in some cases require additional certificates such as a certificate of ownership or a certificate of closure. A certificate of ownership is a document verifying the name of the current landlord and its list of any claims against the title. The closing certificate is usually used in conjunction with investment property financing. The landlord signs a judgmental closure that verifies the financial obligations to be met at the time the real estate transaction is closed. Back to our example, let’s assume that public records show that Dave has two claims against his property – sentencing for $ 50,000 to Mega Max Mortgage Limited and $ 20,000 to Cureman Hospital. Lender Lea requires Dave to make sure they are actually creditors, and the amounts owed to them are correct by signing a closing certificate. Section — Summary Summary lessons
Searches are conducted for titles on the names and addresses of property owners to uncover documents in the public registry that may affect the rights of buyers and lenders in the address. Researchers conduct full, current or limited searches depending on the type of information required for different real estate transactions. After collecting the information, title researchers issue a preliminary report on the title. If there is a spot on the title, you may need to resolve it by a court of law. Prior to the completion of the real estate transaction, the lender may request additional certificates, such as a certificate of ownership or a certificate of closure.
Property Title Verification In India
The land is a matter that falls under the jurisdiction of state governments under India’s constitution. Next, property laws in India may vary from state to state. Apart from local laws, many laws enacted by the central government also govern the acquisition and ownership of property (including interest in the property) through purchase/sale, transportation, mortgage, inheritance, or donation. The transfer of non-agricultural property and the registration of bonds and documents are on the Common List. When a person acquires or owns the immovable property, the law also grants him the right to use, lease, sell, lease, transfer or donate land. The owner also has the right to mortgage his immovable property as collateral for loans.
Here we will deal with the investigation of the address required for various purposes including sale, leasing, sub-lease and mortgage. For the sake of brevity, the reference to sale is also intended to include rent, sub-lease, license and mortgage where applicable.
The title is a legal term; that means title to the property. The title of the property is the primary concern of all at the time of purchase of the property. Each property has an address. The title is evidence of title or right of ownership. The title may be created by parties or by law.
The ownership of immovable property is ascertained using the relevant “documents” and “bonds” relating to such property. The term “document” has a very broad import. Under the Common Law “Document” means any matter expressed or described on any material by letters, numbers or marks for the purpose of recording the matter. Documents relating to the property or commercial transactions are generally called Sukuk or bonds.
1. The title proves ownership. With the exception of valid legal disputes, the title deed of land is considered an official register of land ownership. Without the appropriate address, the legal system would not actually recognize the undeposited or informal contract.
2. All owners can hold their own duplicate addresses: Each owner of the land title can keep a legally valid copy of the address. The business record will provide a copy of each copy in the record-keeping system to verify the authenticity of each copy issued by the district. In the case of trust and ownership based on the company, the recognized official may keep a copy of the address on behalf of the institution or company.
(A copy of the title can facilitate land negotiations and conflict prevention.)
3. Prospective landowners often conduct property searches to uncover potential issues: During the title search, the investigator will look at land documents worth years to identify potential land ownership issues. An address search can prevent unsuspecting new owners from accepting responsibility for past issues. For example, a property owner cannot sell or transfer property rights to property that has unresolved tax problems. A pending privilege can render any ownership transaction invalid.
Address searches reveal information about real estate taxes, real estate agreements, CC & Rs (covenants, conditions and restrictions), issues of title documents, unresolved title claims, and more. If the former landlord gives his company or person the easements or use of the property, the search will also reveal these recorded covenants.
While buyers and lenders usually use searches for titles during the purchase/sale process, many other parties may benefit from the search for titles. Homeowners, businesses, and government officials may use address searches for risk management and investment protection.
4. Property insurance offsets risks associated with the transfer of ownership: To minimize the effects of undiscovered issues during the search for the title, many land buyers invest in property insurance as part of the closing costs of the transaction. The owner’s property insurance often provides coverage for losses up to the full price of the title in the event that the issue jeopardizes the claim for future ownership. The owner’s insurance policies will also cover the legal costs of dispute resolution, including compensation awarded to another party up to the policy limits. The lender’s ownership insurance protects the lender’s agreement with the borrower. In the case of land dispute, this policy will cover the lender’s losses and legal expenses.
Obviously, property verification is an essential activity before buying a property.
The title or legal description of the property in most real estate transactions is sought by the attorney or title company. The attorney/property company must first go through the previous records of the property. The drug may have a “chain of titles”. The lawyer should see if there is any mortgage on the property.
Sometimes a legal inheritance certificate is also necessary to determine the title of the property if there is more than one person as the owner of the property. It is necessary to determine the relationship between the owners. However, this is generally done if the landlord is a deceased person, and that person has more than one legal representative. In this case, it is required to demonstrate the relationship between the deceased and his legal representative. It was also necessary to ascertain whether an objection had been raised to the sale of the said property.
The parent act is necessary to track the origin of the property. It helps close the sale of the property, following the creation of a new property. In the absence of the original parent instrument, certified copies should be obtained from the registration authorities. A parent’s deed includes a change in ownership of the property, that is through sale, division, gift or inheritance. It is very important that the parent instrument records the references to the previous property in sequence and should be continuous and uninterrupted. In the case of a missing sequence, one should refer to records from the registries, revenue records or recitations in other documents. The sequence must be updated until the current owner.
Verification of property ownership is essential in order to prevent legal disputes after the sale of the property. This is regularly done with the help of the buyer’s prosecutor. The attorney will be determined to pass through the previous records of the property. Property verification is therefore of great importance in the sale of the property.
Litigation Services
In real estate law, title search or title search is a process of retrieving documents proving events in the history of a piece of real estate, to identify relevant interests and regulations in relation to that property.
Depending on the number of documents the examiner must review, it will take one day to find the address anywhere. Read this research carefully and look for any hidden problems. Property insurance ensures that the seller has a legal and “marketable” title to the property he sells.
To find out if there are any privileges, here are your options:
1.   Search the county recorder, writer, or resident office online. All you need is the owner’s name or address.
2.   Visit the county recorder, clerk, or resident office in person.
3.   Contact the address company.
Address search companies will search the address history on a piece of real estate. These fees are usually included in the mortgage closing costs. It is a necessary step in buying a piece of property. The fee is usually $ 75 to $ 100.
Visit the county resident
Most states now have additional tools available to search for the free title property. You can find these on state government websites under “District Evaluator.” You will have to define your own county, and you can then search through the listed properties.
1.   Check the ownership papers. The property should have a clear title, without any dispute.
2.   ask to get bank approvals. If you get your home funded by the bank, your half work is already done.
3.   Mortgage certificate.
4.   really approved the plan with the actual location.
5.   Check the property tax vouchers.
6.   The project has a registered community.
Address records are public records that list property, mortgages, privileges and other similar factors. They include written documents, such as works, mortgages, taxes, marriages, wills, and any other document that may affect the title of the property.
It will also show who is responsible for maintaining the roads and tracks adjacent to the property. Searches conducted by your local authority can take from one to six weeks to complete.
Before the transaction can be closed and address search must be performed. A more precise description of the title is a set of rights to the property. The title search is the process of identifying from the public register what those rights are and who owns them.
When conducting a title search, the attorney or property company will conduct the research using public records and legal documents to identify the acquired landlord, concessions or other property-related provisions, property loans and property taxes due.
An act is a physical, legal document, whereas a title is a name that describes a person’s legal position in relation to something. Business documents are officially written, and in most states are required to be registered in a court building or resident office.
All signatures are required even to put the house on the market, much less sell it. Property as tenants in common means you can sell your half of the house without its permission – but only half.
Sell a lien house on it
If you want to move, but you have a lien on your home, you still have options. A home can be sold “as is” when there is a mortgage or judgment against the property or the seller. You don’t have to pay these settlements before closing-concessions against homes can be paid in multiple ways.
You can easily find out if this is simply by calling the county clerk’s office or by visiting their website. Those that have a surface like this will list property information, default history and balances due on each of the mortgages in the property.
If you can’t get information from the tax collector or resident, visit the county land records section of the county. The county clerk, business registrar or record of actions may retain the county land records. You can go to the county website for contact information.
Check out how to help a buyer search report for the property.
The research report is usually prepared by a lawyer who, after visiting the Registrar’s Office and inspecting the ownership documents, issues the certificate of ownership. The title certificate indicates whether the property is unencumbered and has a clear, marketable title
You can discover out which mortgage company owns the note on the house by browsing online records of the county or city where the residence is located. Since records are not available online, you can review the mortgage deed personally at the county or city registrar’s office.
Steps
1.   Go to the county tax advisor’s office and find the tax maps of the area in question.
2.   For each property number, there must be a note that will give you the title book and the page number.
3.   Go to the county clerk’s office and find the current deed.
Five general steps to continue when performing an address search include: First, collect any information about the house that you can find, including the address of the house, the county located at the place of residence, and the name of the current owner. Find the county office for the property
Searching for a title is a must before making any real estate purchase. Property searches ensure that the seller has the legal right to sell the property and that there are no other burdens (e.g. liens, mortgages, etc.) or property line issues that can prevent the buyer from obtaining full possession.
The word warning means “beware”, a legal notice filed with the State Land Registry. If a person has a potential claim to part or all of the property, they may provide a warning, which prevents the owner from selling their property (among other things).
1.   Check the Paper Material. One of the first things you can check to spot a fake title immediately is the physical appearance of the paper.
2.   Check the Copies.
3.   Check the Serial Number.
4. �� Check the Dates.
5.   Check the Title and Seal.
6.   Check the Title Number.
7.   Check the Reconstituted Tags.
8.   Check the Register of Deeds.
The title search will determine the legal owner of the property; disclose any unpaid mortgages, privileges, provisions or taxes that will have to be cleared before the property is sold.
Property searches (also known as regal searches) are queries made by your attorney to find out more information about the property you plan to buy. As part of the home buying process, your notary will conduct a variety of “searches” with your local authority and other parties.
The idea of the title search is to determine who owns the property and has other rights in it, including any type of concessions in the property. It is usually important to do a title search before buying a property to make sure that the entity that sells it has the right to do so.
Typically in my region, title searches go back 60 years, but our area tends to have newer developments, so this is usually sufficient.
A title search is usually requested during the guarantee when the lender who funds the purchase of a home asks for a preliminary report from the title company. However, the search can be done anytime, by anyone, such as a buyer (who may not need the moneylender) or a homeowner who is looking to refinance their home.
Can the house be sold without clearing the address? Clouds on the title, privileges, encroachments and burdens. In general, the law does not require the seller to justify the property or to be clear before closing the sale of homes. However, there are different reasons to ask for a clean list before you sign on the dotted line.
Once your transaction is closed, you will receive your title deed along with the insurance policy at your address. The title process typically takes about two weeks; however, depending on the type of property and movement, this can vary significantly.
Owned property
A bond or act that carries a piece of property, whether land or vehicle, is the simplest form of proof of ownership. Acts should be recorded with the county where the place of residence is located.
Owned property
A bond or act that carries a piece of property, whether land or vehicle, is the simplest form of proof of ownership. Acts should be recorded with the county where the place of residence is located.
Acts will not be returned to the owner until the mortgage of the property is paid in full, although copies of the bonds can be requested at any time. If the mortgage is not held on the property, then the title deeds will be retained by the owner. They can each be kept at home or can be held by a lawyer.
Common-Law States
It ensures that while you are married, you are not required to share ownership of the property you receive. You may apply for a mortgage without your spouse in a common-law state. In determining your qualification, your creditor will not be able to consider the financial circumstances or credit of your partner.
Joint Ownership
Both spouses will have to sign the instrument to sell the house. However, if the address of the house as “common tenants,” the husband can sell his share of the property without the permission of the other spouse. The parties have a separate and distinct interest in the home.
Knowing who owns the property is as simple as searching the tax records or the latest property. Some counties have moved online their ownership records. You can scan public homeownership records in those jurisdictions with just a computer and internet access.
1.   go to the tax assessment site of the city where the mysterious property is located.
2.   Enter the street number for the mysterious property, and the street name for the mysterious property in the appropriate fields provided on the Property Search Tax Assessment page.
3.   Click Search.
A: You should be able to contact the county counsellor online. Go to tax information and put in the address of the property. The owner will be included in the information that comes. There is usually no charge for this information, and it is very easy to find.
You can find out which mortgage company owns the note on the house by browsing online records of the county or city where the residence is located. Since records are not available online, you can review the mortgage deed personally at the county or city registrar’s office
Method 2 Search the records
1.   go to office records during open working hours.
2.   Ask the clerks for help.
3.   Search the appropriate format of the database.
4.   Look for a series of titles.
5.   Locate the registration number.
6.   Obtain copies of the instrument from a clerk.
7.   Pay the necessary fees.
You can easily find out if this is simply by calling the county clerk’s office or by clicking their website. Those that have one page like this will list property information, default history and balances due on each of the mortgages in the property.
Steps
Go     to the county tax advisor’s office and find the tax maps of the area in     question.
For     each property number, there must be a note that will give you the title     book and the page number.
Go     to the county clerk’s office and find the current deed.
How to know the history of your home
National     Register of Historic Places.
ask     your Realtor.
Look     for old census records.
Visit     your local library, historical community or conservation institution.
Explore     the house and the yard of the guides.
Perform     a title search.
Read     books on the area.
Ready     to move
Proof of ownership. Obtain a copy of the instrument to the property. The easiest way to prove that you own a home is with a title deed or a title deed. Bonds are usually deposited in the registrar’s office in the county where the residence is located.
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Transfer of Shares between Resident and Non-Resident (Private Limited Companies)
Transfer Of Shares Between Resident And Non-Resident (from India) involves paying the mind (buyer to seller) and executing the transfer of shares. The bond shall be duly stamped at 0.25% of the study amount. When the transaction is between a resident and a non-resident, there are regulations regarding internal and external transfer of funds, stock valuation, and submission of the FC-TRS form on the company’s electronic portal. Reserve Bank of India (RBI) through Federal Notice No. 20 (R) / 2017-RB dated 07 November 2017, the Foreign Exchange Administration (Transfer or Security issuance by a resident outside India) has made regulations, 2017 to regulate investment in India by person Resident outside India.
FORM FOREIGN CURRENCY-TRANSFER OF SHARES (FC-TRS):
The FC-TRS Form for the Transfer of Capital Sukuk (Shares, Fully Convertible and Mandatory Securities) must be submitted to an Indian Company in the following cases:
1.   When the transfer is made between a person residing outside India (returnable basis) and a person residing outside India (non-returnable basis)
2.   When the transfer is made between a person residing outside India (a returnable basis) and a person residing in India.
Who is the FC-TRS form file?
The transfer of capital instruments stated above is reported upon receipt of each payment. One of the important dilemmas among the general public is who has to present this form with an authorized bank agent? The burden of reporting the resident/transferee or person residing outside India is borne by capital instruments on a non-returnable basis, as the case may be. Transfer Of Shares Between Resident And Non-Resident
What is the Time Limit for filing FC-TRS?
The form of the bank of the authorized agent shall be deposited within 60 days from the transfer of capital instruments or the receipt/transfer of funds, whichever is earlier.
What are the procedures for filing applications?
The following steps are included in the FC-TRS form deposit:
1.   Execution of the share transfer bill and payment of stamp duty: The parties shall implement the following documents for the transfer of their shares: • Stock transfer bond according to each SH-4 • Duly signed letters of approval from buyers and sellers. Note: During the execution of the act of transferring the share, stamp duty @ 0.25% on the amount of consideration is to be paid by buying the transfer of stock stamps, and to see those on SH-4 and then cross the same.
2.   Money Transfer: Money must be transferred through appropriate banking channels. A copy of the FIRC and a copy from the customer of the person residing outside India must be obtained from the bank of the authorized agent.
3.   Registration on the Biz Portal: It is mandatory to register the details of the person’s form with his / her digital signatures (DSC) on the Biz Portal.
4.   Filing the form on the Biz Portal with the required attachments: The online form is filled on the Biz Portal along with the name of the attachments listed below. The photo of the person concerned shall be posted at the time of submitting the application.
5.   Audit of Bank Advertising: Mail Submission Form on the e-portal portal, Bank Advertising Audit of each application and they may send the form for resubmission if any documents/information is incorrect or missing.
6.   Penal Letter / Certificate issued by the advertising bank: The advertising bank provides you with a letter or a criminal certificate if all the documents and information satisfactory to them. These are documentary evidence that states that FDI compliance is duly taken care of by the applicant.
7.   the record by the Indian company: The penalty letter/certificate issued by AD bank is attached with the share transfer form and share certificate and submitted to the company so that the company can take the transfer on its record.
An additional step may be needed in the late submission of FC-TRS: In case the applicant fails to submit FC-TRS within 60 days of the transfer, then the advertising bank will forward the application to the RBI for approval. Transfer Of Shares Between Resident And Non-Resident
Are there any legal fees to deposit FC-TRS?
There is no upfront (e.g. MCA portal) legal fee for depositing FC-TRS on an electronic biz portal, but AD Bank may charge it for processing FC-TRS. Processing fees may vary from bank to bank. The bank may request permission from the depositor to deduct bank charges from the account.
What attachments will be deposited with the FC-TRS form on the Biz Portal?
An FC-TRS form is an online form that is filled out and filed through the Biz Portal along with the following important documents:
1.   Letter of approval from buyer and seller.
2.   A copy of FIRC in foreign remittances is received by the resident Indian.
3.   A copy of the buyer’s client (NRI) on the bank letterhead.
4.   An evaluation report from the accredited resident who attests to the value of the shares.
Is there any specific way to evaluate stocks?
The share price is determined on the basis of valuation of shares according to any internationally accepted pricing methodology for valuation based on arm length duly certified by a chartered accountant or a registered dealer bank SEBI or the cost of practicing an accountant. • While transferring shares from residents to non-residents, the minimum bar is set to price. The price cannot be lower than the price specified in the evaluation report. • In the case of transferring shares from non-residents to the resident investor, the maximum price is set. The price cannot be more than the price specified in the evaluation report.
Provisions Related to the Transfer of Shares to Non-Residents
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How to file a complaint under RERA | (Regulation and Development) Act, 2016
How to file a complaint under RERA
How to file a complaint under RERA-Making a complaint under the real estate framework against the wrong developers is now convenient and simple. Complainants are required to pay an amount to the relevant state authority to register a complaint under the law. The understanding is a step-by-step guide on how to make a complaint within the real estate company.
According to the Rera (Regulation and Development) Act, complaints can be registered under article 31 of the Act. Complaints can be filed against developers, construction, and agents with the regulatory Authority or arbitration officer. Note: All complaints submitted under the Real Estate Authority must be in the form stipulated in the Real Estate Training Rules.
Through the launch of the official websites of this State, the various state governments have made the method of filing a complaint under the real estate framework more simple and hassle-free. Any of the buyers can submit their complaints online through the website by filling out a form and paying the registration fee. How to file a complaint under RERA
File RERA complaints: Step-by-Step guide
Step 1. To submit a complaint to the Authority, the complainant must visit the official website of the State. On the portal, look for the Complaints Registration page. For example, on the Karnataka Real Estate Authority website, buyers can submit their complaints by clicking on the link under “Register Complaints” next to “Agent Registration”.
Step 2 – Click the Registration Complaint link. You will be used to the complaint form to be asked to fill out the details of the complaint.
Step 3. Homebuyers will be required to provide their personal details during the complaint submission, including name, address, contact details, and project details. Supporting documents may also be attached to complainants.
Step 4. Once the form has been achieved in full, the complainant will need to pay Rs. 1,000 to file a complaint or Rs. Online payment mode is also available to complete the transaction.
The Rera (Regulation and Development) Act, 2016  It is an Indian Parliament Act that seeks to protect local buyers as well as help promote investments in the real estate industry. The law provides for the establishment of a real estate regulator in each state to regulate the real estate sector and also serves as an arbitral tribunal to settle disputes quickly. The bill was approved by Rajya Sabha on March 10, 2016, and by the Lok Sabha on March 15, 2016. The Act entered into force on May 1, 2016, with 59 of the 92 sections notified. The remaining provisions entered into force on May 1, 2017. The central and state governments are responsible for notifying the rules under the law within a six-month legal period. How to file a complaint under RERA
History
The draft Real Estate Regulatory Authority (Rera) bill was submitted by the Palestinian government 2 in 2013. In December 2015, the Council of Ministers of the Indian Federation approved 20 major amendments to the bill based on the recommendations of the Rajya Sabha Committee that examined the project. The bill was referred to a selection committee that submitted its report in July 2015. However, Congress, the left and the NLD have expressed reservations about the report through opposition notes. The bill was approved by Ms. Rajya Sabha on March 10, 2016, and Mr. Lok Sabha on March 15, 2016. 
Provisions
Registration
To register with the real estate regulation to launch a project, in order to provide greater transparency in the project-marketing and implementation. For ongoing projects that have not received the completion certificate on the date of entry into force of the law, they will have to seek registration within three months. The registration application must be approved or rejected within 30 days from the date of application by the Real Estate Group. Upon successful registration, the promoter of the project will be provided with a registration number, login ID, and password for applicants to fill in the basic details on the Real Estate Projects Authority website. For non-registration, a penalty of up to 10 percent of its project cost or three years’ imprisonment may be imposed. Real estate agents who facilitate the sale or purchase of real estate must pre-register. These agents will be issued one registration number for each state or federal territory and must be cited by the agent in each sale facilitated.
Protection of buyers
The law prohibits the pumping of lost money into the sector, and so far, 70 percent of the money has to be dropped in bank accounts through checks that are now mandatory. One of the major benefits to consumers in the law is that builders will have to quote prices on the basis of the carpet area rather than the super building area, while the carpet area is clearly specified in the law to include usable spaces such as kitchen and toilets. Under the mortgage, it is mandatory for the builders to reveal the carpet area.
Real Estate Regulatory Authority and Appellate Tribunal
This will help establish state-level real estate regulators to regulate residential and commercial project transactions and ensure timely completion and delivery of such transactions. Appeals courts will now be asked to adjudicate cases in 60 days versus the previous 90 days ruling and regulatory authorities to adjudicate complaints in 60 days while not mentioning a time frame in the previous bill.
RERA Rules
The law provided for in article 84 envisages that, within six months of the enforcement of the Real Estate Law, state governments shall establish rules for the implementation of the provisions of the Act. Some state governments must notify the rules. The central government promulgated late on October 31, 2016, the Real Estate Law (Regulation and Development) (General) Rules, 2016, on the advice of the Ministry of Housing and Urban Poverty Alleviation (HUPA). The rules issued by the central government apply to the five unregulated federal provinces of Andaman and Nicobar, Dadra and Nagar Haveli, Daman, Diu, Lakshadweep, and Chandigarh. The rules were issued following the prior release of the draft for comment.
As of July 13, 2019, Arunachal Pradesh, Meghalaya, Sikkim, and Nagaland had not published the Rules. In the matter of five north-eastern states, the Real Estate Act faces some constitutional challenges because land in those nations is owned by the community. West Bengal notified a similar law called the West Bengal Housing Industry Regulation Act, 2017, which entered into force on June 1, 2018. However, as of July 2019, many states had not implemented the law in its true text and spirit, nor The Permanent Organizer or its body shall notify the Appeal or the Website. How to file a complaint under RERA
VIRTUAL CFO
Implementing states
State/UT
Date of notification
Rules
Website
Andaman and  Nicobar Islands
31 October  2016
[6]
http://www.tnrera.in/
Andhra  Pradesh
28 March  2017
[11]
https://www.rera.ap.gov.in
Assam
6 May 2017
[22]
 Bihar
1 May 2017
[13]
https://rera.bihar.gov.in/
Chandigarh
31 October  2016
[4]
http://rera.chbonline.in
Chhattisgarh
26 April  2017
[20]
https://rera.cgstate.gov.in/
Dadra and  Nagar Haveli
31 October  2016
[5]
http://maharera.mahaonline.gov.in/
Daman and  Diu
31 October  2016
[8]
http://maharera.mahaonline.gov.in/
Delhi
24 November  2016
[9]
http://dda.org.in/rera/index.aspx
Goa
24 November  2017
[25]
https://rera.goa.gov.in/
Gujarat
29 October  2016
[2]
http://gujrera.gujarat.gov.in/
Haryana
04 October  2018
[21]
http://www.haryanarera.gov.in/
Himachal  Pradesh
28 September  2017
[24]
http://www.hprera.in/
Jharkhand
18 May 2017
[15]
http://rera.jharkhand.gov.in/
Karnataka
10 July 2017
[18]
https://rera.karnataka.gov.in/
Kerala
18 June 2018
[28]
https://rera.kerala.gov.in/
Lakshadweep
31 October  2016
[7]
 Madhya  Pradesh
22 October  2016
Rules
http://rera.mp.gov.in/
Maharashtra
19 April  2017
[10]
https://maharera.mahaonline.gov.in/
Manipur
   Mizoram
15 March  2019
[29]
http://udpamizoram.nic.in/RERA.HTML
Odisha
25 February  2017
[12]
http://orera.in/
 Puducherry
18 July 2017
[27]
  Punjab
8 June 2017
[19]
https://www.rera.punjab.gov.in/
 Rajasthan
1 May 2017
[14]
http://rera.rajasthan.gov.in/
 Tamil Nadu
22 June 2017
[17]
http://www.tnrera.in/index.php
 Telangana
4 August  2017
[23]
http://rera.telangana.gov.in/
 Tripura
27 October  2017
[26]
https://udd.tripura.gov.in/acsnrules
 Uttar  Pradesh
11 October  2016
[3]
www.up-rera.in
 Uttarakhand
28 April  2017
[16]
http://www.uhuda.org.in/real-estate-act/
 For More Information and Contact US: https://www.letscomply.com/how-to-file-a-complaint-under-rera-regulation-and-development-act-2016/
Contact Us:
+91-97-1707-0500    
https://www.letscomply.com/
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letscomply · 3 years
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What is the trade mark registration? Describes the Trademark Registration Process, Benefits
Trade mark Registration- A trademark is a distinctive mark or sign identifying business and is used to differentiate a company from another and establish its reputation among consumers. If one does not register his trademark, brand name, logo, punchline, etc., then an imitator can not be prevented from confusing the public by using the same or similarly misleading name or symbol, which can result in long-term financial and economic damage for the company.
We always advise our customers to recognize all IP rights in the form of a trademark and to register each trademark, brand name, label, product name, logo, punchline, and domain name as the trademark in India for an efficient remedy in the event of any other person being misused.
Logo / Trademark Registration in Delhi NCR (Gurgaon, Noida & Ghaziabad), Mumbai, Banglore, Uttar Pradesh, Haryana, Punjab, Rajasthan, and Madhya Pradesh
Let’s secure your brand @ just Rs. 1499 (filling charges).
Register your Trade Mark / TM / Logo / Brand with the expert & largest attorney / registered agency for TM in India
LetsComply IP Practice is a full-service Intellectual Property Law Firm and IPR Attorney in India LetsComply IP Practice was founded in 2004 and is now a leading Intellectual Property Law firm providing specialist and sufficient advice and assistance to clients nationally and internationally in the areas of Trademarks, Copyrights and Designs, Patents, offering trade mark registration services, ISO Certification, drafting of patent specifications, Food License, IEC Code, patent registration, design registration, copyright registration, patent searches and trademark, filing and prosecution in India of national phase applications enforcing intellectual property rights and allied services. LetsComply IP Practice is an Indian law firm and located at Delhi, the capital of India, and has the 4,500 registered Trademark Certificates of their clients in India and Abroad.
We are an expert advisor & the best option for you when it comes to TM / LOGO / Trademark Registration in Delhi NCR. We take each and every case in a very professional manner & as we realize that TM is one of your company/firm’s biggest assets, our professional take it that way and help you in a very special and transparent manner. We’re best placed to protect your brand name & brand agency.
Identify Trademarks of Your Business
Business Name
Your Business Name is the most valuable trademark, you must protect it immediately before someone else steals it.
Logo of the Company
The logo is your brand illustration, work of art, or emblems. Send a high-resolution JPEG Image for Logo Registration.
Brands of The Company
The products of business are known by their independent name. It may be a wordmark or a device mark (image).
Punchline Or Slogan
Punchline or slogan such as Pepsi’s “Ye Dil Mange More” can be protected by the registration of a trademark in India.
Preparation & Documentation for Trademark Registration in India
Preparatory
Stage – 1
Selection of the Trademark
Each business has various IPRs, such as trademark, logo, punchline, brand name, domain name, product label, etc. Such marks may not, however, be eligible for trade mark registration. The first move should therefore be to recognize trademarks that qualify for registration pursuant to Sections 9 and 11 of the Trademarks Act, 1999, which stipulates relative or absolute grounds for denial of the trademark.
Preparatory
Stage -2
Trademark Search
The next is to see if such marks are exclusive after the recognition of the business marks, and it should not clash with someone else’s current trademark or business name. Carry out a thorough search in the trademark registry, which is available online to find out whether any identical or similar trademarks have already been licensed or are pending.
Preparatory
Stage – 3
Trademark Classification Trademark Class Finder
There are 45 classes in under trademark which a trademark can be registered on the basis of the activities for which the trademark is to be used, Classes 1 to 34 relate to goods whereas Classes 35 to 45 are for services. One trademark can be used for multiple business activities and may fall under more than one trademark category. We recommend that trademark applications be submitted in all such groups where there is even a portion of the operation involved.
Preparatory
Stage – 4
Documentation Provided for Trade mark Registration On this page, the documentation section provides a list of documents required for filing a trademark application. In general, authorization is required of the trademark attorney, an affidavit in support of the user data as claimed in the application. Such records are to be written on non-judicial stamp paper, which is notarized further. We will help you in drafting the same, and the details may be given to us in the questionnaire for that reason.
Trademark registration process in India, Trademark registration Delhi
Step 1
Trademark application filing
We submit the trademark application within 24 hours of full documentation and payment. Deposits are made in an online environment, and in most cases, recognition of trademark deposits is created instantly. The applicant can use TM on the trademark after creating the deposit receipt approval.
The second step
Order processing at the Trademark Office
After filing the application, it is checked for defects, if any, and based on the evaluation carried out by the ™ office by marking the request for further examination or declares that filing the application fails before the examination, these types of errors are required to be removed.
Step 3
Trademark Request Examination
Then the trademark application is examined by the trademark examiner to see whether the trademark is eligible for registration or not, and after the completion of the trademark application examination, the examination report is issued with the examiner notes.
The fourth step
Response to the examiner’s report
The inspection report issued according to the previous step must be answered within 30 days of the date of the examination report issuance. The response to the examiner’s report is an important formulation, which makes or breaks the brand’s application. We urge applicants to help us by providing the maximum amount of information and documents possible to prepare a response to the examination report.
Step 5
Show the cause of hearing
In most cases, the examiner may feel satisfied after receiving the written response to the examination report. However, before any negative behavior from the application is an opportunity for personal listening to the applicant, this stage is known as the case presentation.
Step 6
Publish brands
When the examiner is satisfied with the trademark eligibility, either in the examination or display stage, The application for a trademark shall be published in the trademark journal. Any person may oppose trademark registration, and in the event that he does not receive any objection within 90 days, the trademark is registered.
Step 7
Trademark registration certificate
Finally, after registering a trademark, a certificate of registration is issued by the trademark registrar. The registration certificate is valid for ten years from the date of submitting the application. Trademark registration may be renewed for a further period of 10 years for any number of years.
Online trademark registration in India
Register a trademark to protect the distinctive identity of your logo, logo, and trademark. Trust LetsComply, is a leading online service for online TM registration, anywhere in India
Online trade mark registration
It takes a lot of hard work and resources to build a brand. Next, it is important to ensure that you have exclusive ownership of the use of the logo, logo, shape, and packaging of the goods, sound, smell, color combinations, or anything else that gives your brand a distinct identity. Trademark Law, 1999 allows you to register a trademark in India. It allows for exclusive property rights and restricts all others from its next use, benefiting the owner of the registered mark.
Logo application can be made quickly and online. One can start using the “TM” icon once the application is made. However, the TM registration process takes up to 15-18 months. It includes various operations to verify the original owner of the mark. Trademark registration in India is undergoing many innovative changes. Consider this – one can now take advantage of trademarks of unconventional marks through which even a distinctive voice can now be registered as a trademark in India.
LetsComply experts over 1,000 brand applications every year. We serve customers in all India’s major cities like Mumbai, Delhi, Bangalore, Ahmedabad, Chennai and more.
The benefits of trademark registration India
Goodwill commercial guards
The trademark owner has the right to create, establish, and protect the goodwill of his products or services. The owner can illegally stop other traders from using his trademark. One can also sue the infringer to dilute the brand name and claim compensation for any violation.
Announces goods and services
Trade mark registration creates the face of the company or goods and services. This helps to differentiate and promote the formation of brands. Most companies find their identity through the following brands; it plays a pivotal role in advertising and increases the value of the brand.
Legal protection
The registered trademark gives its owner a legal right in case of infringement. Failure to register a trademark may leave the owner of the original brand name without any treatment.
Create an asset
Trademark registration in India creates intangible assets. The TM can be sold, appointed, or commercially contracted to bring benefits to the company or individual owner.
Proof of the applicant
Applicant’s PAN card and address book
Certificate of Registration (other than the individual applicant)
Brand name and logo
The logo must contain the trademark name applied to the trade mark registration
User certificate
If a specific date is requested for the user, the user’s written certificate is also required to present it
TM Instruction Manual
To require a specific date for the user, documentary proofs such as invoices, registration certificates, etc. must be provided in the name of the trademark
MSME / Start recognition
Partnerships and corporations affiliated with the authority (other than the individual) can submit a registration certificate under the plan for India or start operating it to benefit from a 50% discount on government fees.
Form signed TM-48
TM-48 is a legal document allowing an attorney to submit a trademark to the trademark register on your behalf. LW practitioners must prepare the document for signature All you need to know before applying for a TM registration
Frequently asked questions
What is a brand search, and how to do it?
The trademark is registered by the trademark registrant only if it is unique and is not identical to or similar to any existing trademark. A database of all registered and applied brands is available for public research. In the correct TM category, the applicant must look for an equivalent mark.
Link to general search from TM,
How to do Search brands,
Trademark attorney search report
What is the brand category? How do you do a trademark classification?
As for the registration of trademarks, goods and services are classified into 45 different categories. The most recent changes to the TM classification are made by the World Intellectual Property Organization (WIPO) on February 1, 2018. Chapters 1 to 34 relate to goods and categories 35 to 45 for services. Trademark protection is legally enforceable only within the specifications of a specific class of trademarks registered in it. Some time, one trademark and the related goods or services fall into multiple categories. In this case, the request must be filed in all these categories.
Trademark category and classification.
Search your goods or services in a comprehensive list,
Link to the NIC classification portal
What does TM or (R) mean?
The “TM” mark, the TM symbol is usually affixed to the upper-right corner of the mark, to represent its status as a trademark of the registration in which the application was filed. The mark “(R) is used after issuing a trade mark registration certificate. You must have noticed (R), and many companies have marked TM on a logo or plate.
“TM” – It is used when applying for trademark     registration, trademark registration, logo registration, Punchline     registration is deposited.
‘ (R) ‘-This symbol is used when issuing a trademark     registration certificate by the Trademark Office.
What information is required to apply for trademark registration?
To request trade mark registration, we need details of the trademark owner, contact address, type of mark, and details of the goods/services that TM is in use or proposed to use. You can provide us with all this information on the trademark application form.
What documents are required to apply for trademark registration?
The trademark owner must give permission to our team of trademark attorneys or trademark agents on the specified trademark authorization form. It is like a power of attorney to deposit trademarks and represent departments on behalf of the applicant. The trademark owner must also file a declaration with the right before the notary public about the user who dares the trademark. To download the trademark license and the user certificate form for the trademark, click on the type of applicant
Individuals
Partnership
Property
LLP
the society
The company
Confidence
Foreigner
What are the government fees for filing a trademark application?
Government fees for filing trademarks in India differ depending on the type of applicant. After the current slab of government fees.
Hungarian Forint and Hungarian Forint – Rs 4500 / –
for startup registered under the India Startup     Initiative and MSME-Rs 4500 / –
For all other applicants such as Corporate / LLP etc.-     Rs 9000 / –
What are the different stages that the trademark registration application must go through?
Registration of trademarks is a long-term process that varies from the merits of each case. In some cases, simply submitting an application to the Trademark Registry is sufficient, while in some cases, the administration or third parties may challenge it.
What is trademark registration, is it different from trademark registration or trademark registration?
A trademark is a thing that connects goods or services to the businesses that provide them. The process of registering a trademark registration/trademark registration is identical to that of registering a trademark or registering a trademark.
Should the brand be presented in the name of the individual or the name of the company?
Many startups register a trademark based on the name of the founder, while large companies prefer to do so in the name and logo of the institution. This is because the future of startup is always in doubt. If it is owned by the founder, then the trademark is valid regardless of the state of the entity.
What cannot be registered as a trademark?
These trademarks cannot be registered with any identical or deceptive mark similar to the existing registered trademark, or the trademark in which the registration application is already in progress. Also, the mark that is likely to lead to deception or confusion, or that appears offensive, may not be registered. Also, geographical names, common names, common trademarks, and abbreviated abbreviations are not subject to registration.
When is the registration for any period, the trademark is effective? Is it possible to renew the trademark registration?
The registered trademark is valid for ten years from the date of registering the application. It can be renewed every ten years, always. In India, the renewal application is filed within one year before the last trade mark registration expires.
How long time
  does it take to register a trademark?
Usually, it takes at least 15 to 18 months for a trademark to be registered in India once applied. The job that the owner can use (R) is a symbol next to the trademark. However, once the trademark application is filed online, the applicant can start using the (TM) code. Registration may be delayed due to verification.
What is the branding category? How to find the right layer?
The Comptroller General of Patents, Designs, and Trademarks has classified goods and services under Chapters 45. Your request must mention the category/layers that the goods/services represent. Trademarks are registered only under these categories. Our experts will help you find applicable and relevant layers. For each category, a separate application is filed by paying specific government fees.
Will the brand be valid outside India?
The registration application submitted under the Trade Marks Act 1999 is verified and registered in India and is still valid in India only.
How does a beginner qualify for a 50% discount on government fees?
If you have a valid certificate issued by an emerging India (an initiative of the Government of India), then your startup will be eligible to benefit from a 50% discount on government fees for registering a brand name.
What is the process for obtaining a trademark registered by the Ministry?
The trade mark registration process in India consists of the following main components before the trademark is granted:
Apply the brand in the appropriate category, with all the     correct details.
Sending it to Vienna Blogging – Once a new trademark     application is filed, the Vienna symbol is assigned if the trademark     consists of symbolic / logo elements. The Registry notes Vienna so that     trademark searches for artwork/logos can be performed.
Examination of formalities – This is the first step in     verifying the application of trademarks, as the trademark registry usually     checks to meet the basic requirements. This includes checking whether the     service program has been downloaded (upon filing by a lawyer) and whether     the appropriate written/written translation has been deposited if the     translator is not deposited in the English / Hindi language.
Issuing the examination report from the Ministry – upon     checking the basic details, the Registry examines the request contained     under the various departments to see if the trademark you requested     requires any clarification under any of the legal parts of the law. When     they feel that any information is needed, they will issue an examination     report with the relevant department to which the response should be     provided.
Examination report issued/accepted – after accepting     the trademark application or submitting it. Examination response if the     record is satisfied, then the brand name, symbol, or both will be followed     up to be published in the Trademark Book.
“Advertised by acc,” “advertised,” “accepted &     advertised” – At this point, a trademark name, logo, or both are announced     in the Trademark Book. It keeps this open for four months to any third party     for opposing the published trademark. And when any such objections are     received, the situation will change to the opponents – to whom an     appropriate response should be given.
Registration – if there are no objections,     clarifications, or other deals, the trademark application will be accepted     and marked as “registered.” This is the time when the trademark applicant     can start using the® symbol.
What is covered under Trademark Service by LetsComply?
It includes drafting the entire trademark application along with guidance for the appropriate categories. Moreover, the final filing with the Ministry’s registered attorney is also included in the service offer for a trademark application.
If I register my brand name and logo, will they be considered two orders or one app?
The Ministry accepts an application that contains the logo and the brand name as one application if they are presented together in one image. Hence, the charges related to one application apply. Separate filings may also be made if the applicant wishes to change the logo or brand name of one of them in the future and retain the other.
Can a multi-layered application be filed in India?
Yes, one can apply for registration in multiple categories in one application.
What are the government fees for applying one TM category versus multiple category applications?
For registration, fees are charged based on the ‘number of categories applied’ rather than ‘a number of requests.’ For individuals or startups, for each category, the government fee of 4,500 Rs is to be paid. For all other cases, government fees pay 9000 rupees. For example, if an individual applies to a trademark application under three categories, then the government fee will be 13,500 rupees.
Can the registered trademark be modified later?
Yes, the owner can amend the deposited mark in accordance with the provisions of Article 22 of the Trademarks Law. This allows modification of the mark that it does not report to a fundamental change in the symbol of the mark. Any superficial or insignificant character or feature of the said mark may be modified provided that an application is submitted in a specified format with copies of the modified label mark.
Is the trademark responsible for removal on the basis of non-use?
Yes, a registered trademark can be removed for non-use. If it has not been used for a continuous period of five years from the date of the trademark registration, and an application is made for its removal three months after the end of these five years, then it can be removed.
For More Information and Contact US: https://www.letscomply.com/trade-mark-registration/
Contact Us:
+91-97-1707-0500    
https://www.letscomply.com/
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letscomply · 3 years
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What is the process of foreign non-resident GST Registration?
GST Registration for Foreigners- The word “Non-resident taxable person” has been defined under the Goods and Services Tax Act 2017, as an individual who occasionally do any transactions involving any supply of goods or services, or both, whether as a principal or as an agent and that person do not have any fixed any fixed place in India.
REGISTRATION FOR NON-RESIDENT TAXABLE PERSON
SECTION 24 OF GST ACT- Compulsory registrations in certain cases
Here is the list of person who is compulsory required to get them registered under the Act:
(i) persons making any inter-State taxable supply;
(ii) casual taxable persons making taxable supply;
(iii) persons who are required to pay tax under reverse charge;
(iv) person who are required to pay tax under sub-section (5) of section 9;
(v) non-resident taxable persons making taxable supply;
(vi) persons who are required to deduct tax under section 51, whether or not separately registered under this Act;
(vii) persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;
(viii) Input Service Distributor, whether or not separately registered under this Act;
(ix) persons who supply goods or services or both, other than supplies specified under sub-section (5) of section 9, through such electronic commerce operator who is required to collect tax at source under section 52;
(x) every electronic commerce operator;
(xi) every person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered person; and
(xii) such other person or class of persons as may be notified by the Government on the recommendations of the Council.
When Non Taxable Persons get himself registered
It is mandatory for all non-resident taxable persons to get them registered under the GST Act it is irrespective of their aggregate annual turnover.
As aforesaid, it is mandatory for them to get registered under the GST Act, The intimation is required to be filed prior to 5 days before commencement of any business activity.
Provisional Registration
All non-resident taxable persons shall file an application for registration in FORM GST REG-09 alongwith the supporting documents. The application must be filed at least five days prior to the commencement of business activity. An advance deposit of tax shall be paid to the government based on estimated sale.
Final Registration
The process of submission of application for final registration is same as filed by the resident taxpayers. The application for final registration shall be made in FORM GST REG–26 alongwith the supporting document as required. If the proper officer is satisfied with the information provided by the non-resident taxable persons he will issue a certificate of registration. The application for registration shall be signed by his authorized signatory who is person resident in India having valid PAN.
Documents for GST Registration
1.   PAN card
2.   Valid Phone no. and Email id for OTP.
3.   Passport size photograph of the Applicant.
4.   Proof of principle place of business (any one)
Electricity bill
Legal ownership document
Municipal khata copy
Property tax receipt
5.   Proof of details of Bank Account
The first page of the passbook
Bank statement
Cancelled cheque
6.   Other details
List of Goods and Services
Proof of appointment of Authorized Signatory (Letter of     Authorization or copy of board resolution)
Authorized Signatories photo
Incorporation certificate (for Company and LLP)
DSC
Validity of GST Registration for Non-Resident Taxable Persons
GST registration shall be provided with a specific validity as requested in his application and there after the amount which have been deposited by the Non-Resident Taxable Persons shall be remitted. A request in FORM GST REG-11 can be made by him, if he wants to extend the validity. In that case no new deposit will be required and the deposit already submitted by the Non-Resident Taxable Persons shall be used. The application is to be made well before the expiry of registration certificate issued to Non-Resident Taxable Persons. GST Registration for Foreigners
How we can help:
LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India, and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, I.P. Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
For More Information and Contact US: https://www.letscomply.com/gst-registration-for-foreigners/
Contact Us:
+91-97-1707-0500    
https://www.letscomply.com/
SERVICES PROVIDED BY US:
Foreign Investment in India| Setting-up of Business in India |Virtual CFO| Virtual General Council| Income Tax | GST Registration & Returns | Company Registration | LLP Registration |NGO| Company Annual Compliances | Drafting & Vetting of Agreements |Opinion & Advisory on Different Issues| FSSAI Licenses| ESI & EPF | ISO certification |Shop & Establishment Registration |MSME Registration| SEIS/MEIS Services| DGFT| Legal Notices
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letscomply · 3 years
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What is the GST LUT Filing? What are the documents required and Benefits?
GST LUT FILING- It is mandatory for all registered taxpayers (who had exported goods or services) to file a Letter of Undertaking (LUT) only in form GST RFD-11 on the portal of GST to make the exports without payment of integrated goods and services tax (IGST). In vice versa case that is without the filing of the aforesaid form, the goods or services can be exported however in that case the payment of IGST has to be made thereafter you can claim the refund of IGST. The first one is better mode then the later one this is due to the reason that the later step involves blockage of the fund and unnecessary departmental proceeding.
BENEFITS
1.   Exports without tax payment
In order to take the benefit of tax the aforesaid form can be filed, this will help the taxpayer to make export zero-rated exports. The benefit either can be taken my filing a form and then export without payment of tax or export first then file necessary documents to avail the refund.
2.   Maintenance of Working Capital
Yes, this helps the exporters in the maintenance of working capital requirements. The benefit can be taken through the steps as prescribed above, the filing process in also made easier. By availing the scheme, huge working capital which can be used in different work to carry out daily business activities can be saved. Further, it also reduced the cost of export.
3.   One Year Validity
Ii is important to note that LUT once filed is valid for the whole coming financial year in which the LUT is filed, hence one can say that it is better to file LUT against the later process, as it saves lots of time and efforts to make export zero-rated exports.
4.   Convenient online process
The process is so convenient. The registered taxpayer can file a simple form online along with few documents and is not required to visit the department again and again. The registered taxpayer can obtained the authorization by filing this form online.
VALIDITY OF THE LUT
The LUT for exports without payment of GST is valid for the financial year in which it is submitted. The LUT would be required to be submitted separately for each financial year.
DOCUMENTS REQUIRED FOR LUT FILING
The registered taxpayer is required to submit signed copies of
1.   Pan card of the taxpayer.
2.   GST Registration certificate
3.   PAN and the Aadhar card of individual, partners/directors.
4.   IEC Registration Certificate;
5.   Cancelled cheque:
6.   Any other document.
Details to be filled in Form GST RFD-11
Registered Name
Address
GST No.
Date of furnishing
Signature, date and place
Details of witnesses (Name, address and occupation)
How we can help:
LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India, and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, I.P. Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
 For More Information and Contact US: https://www.letscomply.com/gst-lut-filing/
Contact Us:
+91-97-1707-0500    
https://www.letscomply.com/
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letscomply · 3 years
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What are the documents required for GST registration in India?
GST Registration or Goods or Services Tax is a consumption-based tax, it is an indirect tax which levied on sale, manufacturing, consumption, import, and export of Goods or Services. The Act made effective with the view to remove cascading of taxes which were there in India. There were a number of taxes which were imposed on the goods or services and the input of different taxes paid by the taxpayer was not available to him in different stages due to which the price of the goods as well service increased when ultimately consumed by the consumer. In order to provide the benefit of the input at various stages and in order to cascade the effect of the tax GST Act, was introduced. After the implementation of the GST Act, all the taxes like VAT, CST, Entry tax, entertainment tax, and different other tax as well as duties were subsumed and only one tax ie,., GST was introduced. One nation One Tax was the mantra.
In this regard, the Constitution (101st Amendment) Act, 2016 was introduced in 2016 where article 366(12A) inserted to define the term GST. GST means “any tax on supply of goods or services or both except taxes on supply of the alcoholic liquor for human consumption”.
Further, as we know that in order to recognize taxpayer a system of registration should be in place, this is for compliance purposes, anyone who is not registered under the Act cannot collect the tax as well as claim the benefit of input. The GST Act contains the provisions with regard to registration of taxpayers. Here Section 22 and Section 24 are very important. Under Section 22, the limits has been prescribed crossing the same, will attract registration requirement. Apart from this, individuals who are mandatorily required to take registration under GST are defined in section 24 of the GST Act.
SECTION 22 OF GST ACT- PERSONS LIABLE FOR REGISTRATION
(1) Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both if his aggregate turnover in a financial year exceeds forty lakh rupees:
Provided that where such person makes taxable supplies of goods or services or both from any of the special category States, he shall be liable to be registered if his aggregate turnover in a financial year exceeds ten lakh rupees.
(2) Every person who, on the day immediately preceding the appointed day, is registered or holds a license under an existing law, shall be liable to be registered under this Act with effect from the appointed day.
(3) Where a business carried on by a taxable person registered under this Act is transferred, whether on account of succession or otherwise, to another person as a going concern, the transferee or the successor, as the case may be, shall be liable to be registered with effect from the date of such transfer or succession.
(4) Notwithstanding anything contained in sub-sections (1) and (3), in a case of transfer pursuant to sanction of a scheme or an arrangement for amalgamation or, as the case may be, demerger of two or more companies pursuant to an order of a High Court, Tribunal or otherwise, the transferee shall be liable to be registered, with effect from the date on which the Registrar of Companies issues a certificate of incorporation giving effect to such order of the High Court or Tribunal.
Explanation.––For the purposes of this section,––
the expression “aggregate turnover” shall include all     supplies made by the taxable person, whether on his own account or made on     behalf of all his principals;
the supply of goods, after completion of job work, by a     registered job worker shall be treated as the supply of goods by the     principal referred to in section 143, and the value of such goods shall     not be included in the aggregate turnover of the registered job worker;
the expression “special category States” shall mean the     States as specified in sub-clause (g) of clause (4) of article 279A of the     Constitution.
In simple word, one can say that any supplier who is having aggregating turnover in a financial year exceeding 40 Lakhs, except in case of special category states. In case of special category states a person is liable for registration if his aggregating turnover in a financial year exceeding 10 Lakhs.
Further, if any person is already registration or hold a license in any existing Act, then he shall be liable for registration under the Act.
Here special categories states include Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.
SECTION 23 OF GST ACT- PERSON NOT LIABLE FOR REGISTRATION
A person shall not be liable to take registration under the Act if he is
1.   Engaged in any business of supplying goods or services which are not liable to tax or wholly exempt from tax under Act or under the IGST Act.
2.   an agriculturist, to the extent of supply of produce out of cultivation of land.
Further, the government can also exempt any person from taking registration through a notification in the official gazette.
SECTION 24 OF GST ACT- Compulsory registration in certain cases
Here is the list of person who are compulsory required to get themselves registered under the Act
(i) persons making any inter-State taxable supply;
(ii) casual taxable persons making taxable supply;
(iii) persons who are required to pay tax under reverse charge;
(iv) person who are required to pay tax under sub-section (5) of section 9;
(v) non-resident taxable persons making taxable supply;
(vi) persons who are required to deduct tax under section 51, whether or not separately registered under this Act;
(vii) persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;
(viii) Input Service Distributor, whether or not separately registered under this Act;
(ix) persons who supply goods or services or both, other than supplies specified under sub-section (5) of section 9, through such electronic commerce operator who is required to collect tax at source under section 52;
(x) every electronic commerce operator;
(xi) every person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered person; and
(xii) such other person or class of persons as may be notified by the Government on the recommendations of the Council.
Documents for GST Registration
1.   PAN card
2.   Valid Phone no. and Email id for OTP.
3.   Passport size photograph of the Applicant.
4.   Proof of principle place of business (any one)
Electricity bill
Legal ownership document
Municipal khata copy
Property tax receipt
5.   Proof of details of Bank Account
The first page of the passbook
Bank statement
Cancelled cheque
6.   Other details
List of Goods and Services
Proof of appointment of Authorized Signatory (Letter of     Authorization or copy of board resolution)
Authorized Signatories photo
Incorporation certificate (for Company and LLP)
DSC
How to file an application for Registration
The application for registration has to be made within 30 days through online mode from the date of person becomes liable to register, or his turnover exceeds the specified limit defined under GST. The GST certificate shall be issued within 3 days from the date of application submission if no discrepancy is found by the authority.
How we can help:
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letscomply · 3 years
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What are the documents required in filing an ITR-7 Form?
ITR-7 Form Filing- The Income Tax Department has notified various ITR forms for different Taxpayers who are based on the source of income of different taxpayers. This is done in order to create a simple tax structure in our country. Based on the source of income, a taxpayer chooses ITR form and file his/her return. The return is required to be filed every year subsequent to the year of income. Now the details of PAN and Aadhaar card is mandatorily required to be furnished with the department while filing the ITR return. There are various forms like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 which is required to be filed by the different taxpayer. However, it is to be noted that it is not mandatory to file the return by all taxpayers, this is only the certain individual having threshold income more than as prescribed under the Income Tax Act who are required to submit the Income-tax return.
The return must be filed before the due date in order to avoid late fees and penalties. Further, aforesaid forms are designed for different taxpayers and it shall be processed by the Income-tax department accordingly.
WHAT IS ITR FORM-7
The ITR Form-7 is to be filed by all taxpayers which include a Company, any firms, AOP, and also other organizations that falls under Section 139 (4A), Section 139 (4B), Section 139 (4C) and Section 139 (4D).
Section 139 (4A) of the Income Tax Act, 1961 provides for aforesaid Taxpayers which are getting their income from any properties involved in religious or charitable purposes.
Section 139 (4B) of the Income Tax Act, 1961 provides for aforesaid Taxpayers which is a Political party. As we know that Political parties are exempted from any levy of tax as provided under Section 13A of the Income Tax Act, 1961 however, it is applicable only if the Political party filed the Income-tax return in ITR Form-7.
Section 139(4C) specifies the following Taxpayers who required to file ITR Form-7.
Any News Agency
An Association involved in Scientific research
All Institutions as categorized under Section 10(23b)     of the Income Tax Act, 1961
Any Associations / Institutions as mentioned under     Section 10(23a) of the Income Tax Act, 1961 and
Various Funds, Universities, Institutions, any     educational institution, and medical institutions including hospital
Section 139(4D) provides for educational institutions which are not covered above shall file ITR Form 7.
ONLINE/ELECTRONICALLY FILING OF ITR FORM 7:
The ITR-7 Form Filing can be furnished online, for this one need to login to the account which shall be prepared on the website of Income-tax department and shall be verified. Thereafter, an acknowledgment shall be send to the registered email id of the Taxpayer. The online return can be verified through Aadhaar OTP/EVC. The Acknowledge can also be sent physically through post at below address:
Income Tax Department
Post Bag No. 1, Electronic City Office, Bengaluru— 560500, Karnataka.
Every year ITR Form 7 has to be filed on or before 31st July of the subsequent year. Thereafter, the late fee shall be levied. Here is a tabular representation of late fees for easy understanding:
Filing Date
If Income is Below 5,00,000/-
If Income is Above 5,00,000/-
31st July 2019
00
Between 1st August to 31st Dec 2019
1,000/-
5,000/-
Between 1st Jan 2020 to 31st March 2020
1,000/-
10,000/-
 FORM IS DIVIDED IN FOUR PARTS
1.   Part A
2.   Schedules
3.   Part B and
4.   Verification
ANNEXURE
It is to be noted that no documents are required to be furnished with ITR Form 7.
How we can help:
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letscomply · 3 years
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What is the procedure for making a trade licence? What are the required documents to get it?
Trade Licence – Permission or License issued by the municipal corporation as permission to carry on a particular business at a particular address for a specified period of time after ensuring that the citizens are not adversely affected either as health hazard or nuisance created by the business carrying the trade is called a trade license.
Essentially, it is managing a business in a specific locality. The trade license is an instrument for ensuring that the manner and locality in which the business is being carried on in adherence to the relevant rules, standards and safety guidelines. 
The state government laid down the concept of Trade License to monitor and regulate the trade within a city. The municipal corporation of the particular place where the business is located issues the trade license. Substantial penalty and subsequent prosecution may be given as a result of unauthorized trade, which is an offense and hence, the owner of the businesses must obtain a trade license if required. An application in this regard must be filed before the commencement of the activity of business or trade.
Once a trade owner gets the License, it should be renewed periodically. Annual renewal of the License is required on a regular basis after the issuance of the License. For the renewal of the Trade License, the Application required for renewal must be filed at least 30 days before the expiry of License. 
The limitation to the trade license is that no kind of property ownership is transferred with the Trade License.
Since, it is an important part of public interest, to avoid bulking of license form, it has been divided into three categories:
1.   Industries license: small, medium and large-scale manufacturing factories
2.   Shop license: Dangerous and Offensive trades like a sale of firewood, cracker manufacturer, candle manufacturer, barbershop, dhobi shop etc.
3.   Food establishment license: Restaurants, hotels, food stall, canteen, the sale of meat & vegetables, bakeries etc.
But not everyone can get the trade license issued, certain criteria for eligibility for applying for the trade license is laid down: 
1.   The age of the owner must be above 18 years. 
2.   No criminal records must be there. 
3.   All permission must be obtained already.
ADVANTAGES
There are four broad advantages of Trade Licence 
Legal Protection: Getting a Trade License issued, may lead to penalties based on the nature and duration of the company as it ultimately classifies the business as illegal. The main reason is to keep in check unethical and illegal trade practices and check adherence to the applicable rules, standards, and safety guidelines. It provides protection to owners of business against any certain types of liability and limits it to the trade or business liability. Not getting a trade license can lead to the imposition of penalty and punishment and, ultimately, closing down of business. When you have a trade license, you will be liable to enjoy the rights of bragging it.
Implies Competence: Increase in commercial setup for India, the main concern was to avoid commercial activities running in a residential area or commercial area and creating a health hazard and hence, the initiative of Trade license was put forward to keep a check on such activities. No municipal authority has the right to shut down the activity without proper notice and time for adherence with the presence of a Trade License. This instills competence within entrepreneurs.
Goodwill, Public and Personal Benefit: We compare licensed and non-licensed businesses, it is effortless to decide which business we will choose, which is basically one of the most significant advantages of a Trade license, it creates a better image and goodwill of the business which attracts more customers and hence more business than an unregistered entity. Goodwill attracts various investment groups and other business organizations, helping in growing the prestige of the firm.
License separates personal identity with that of business identity and limits the legal liability, it does the same with personal and business finance by separating them.
DOCUMENT REQUIRED
Signed copies of 
1.   Pan Card of company, LLP, or Firm.
2.   Canceled Cheque or bank statement of the entity.
3.   COI along with MOA and AOA of the company.
4.   Proof of Premises of the establishment in the form of Sale Deed, Electricity Bill/water bill and NOC from the owner.
5.   Colour Photograph, ID Proof, Pan Cards along with Address Proof of all Directors/ Partners.
6.   Front-Facia Photograph of the entity 
PROCESS OF REGISTRATION / RENEWAL
Form 353 is to be duly filled and submitted along with all the above-mentioned documents to the Municipal Corporation after the type of Trade License is finalized.
The Application for the same is to be made to the State or Municipal Corporation under whose local jurisdiction does the business lie, which is different for different states.
Trade License can be downloaded online after approval, the processing time for which on an average is 10-15 days or might differ for different states.
January 1st to March 31st is the time usually when the license renewal applications are made and has to be renewed annually since the validity of the License is of one year.
As mentioned above, the Application of renewal should be made 30 days before the expiry of the License, delaying might lead to fine according to the rules and regulation of the issuing authority and the State.
Documents that are needed for the renewal of the Trade Licence are–
1.   Original copy of the trade License;
2.   Previous year challan;
3.   The latest Property tax paid receipt.
IMPORTANT INFORMATION
1.   Municipal Corporation issues the trade license exclusively for trade or business and cannot be used for any other purposes.
2.   Every State of India has a different set of rules and regulations for the issuance of a Trade Licence.
3.   The nature of the business decides the fee structure for the issuance of a Trade license.
4.   A business granted with this License will enjoy more considerable goodwill than an unregistered entity and subsequently attracts more customers and investors.
About Us
LetsComply is a full service law firm and is the best platforms for all your Legal, Finance and Taxation needs. Letscomply is one of the leading law firms in India and having team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, IP Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
For More Information and Contact US: https://www.letscomply.com/trade-licence/
Contact Us:
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SERVICES PROVIDED BY US: 
Foreign Investment in India| Setting-up of Business in India |Virtual CFO| Virtual General Council| NCLT Matters | IBC matters| Income Tax | GST Registration & Returns |Trademark registration | Company Registration | LLP Registration |NGO| Company Annual Compliances | Drafting & Vetting of Agreements |Opinion & Advisory on Different Issues| FSSAI Licenses| ESI & EPF | ISO certification |Shop & Establishment Registration |MSME Registration| SEIS/MEIS Services| DGFT| Legal Notices.
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letscomply · 3 years
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What is the Other Service Providers (OSP Licence)? Describe the Benefits and Required Documents.
Other Service Providers (OSP Licence) commonly referred to as OSP, were established under the advice, terms, and conditions laid down in February 2000 by Telecom Commission. Such OSP’s can take telecom resources from authorized Telecom Service Providers only and not provide switched telephony. Further, the Department of Telecommunication must register OSPs using telecom resources for providing an array of services sort of a call center, telebanking, and other IT-enabled services. Therefore, the Department of Telecommunication (DOT) now registers OSPs in India and has registered over 2500 cases since inception. OSP stands for Other Service Providers pertaining to the service provided within the Telecommunication Industry which uses telecom resources. It involves BPO/call centers, e-commerce, telemedicine, telebanking, education, and other IT services. The Department of Telecommunication (“DOT”) under the New Telecom Policy (NTP) 1999 made it compulsory for OSPs using telecom resources to get License. OSP registration is mandatory for any service providers in India engaged in services like telemedicine, tele-education, telebanking, tele-training, call center, e-commerce, network operation center, other IT Enabled Services, and is using telecom resources.
Different types of OSPs available are:
1.   Domestic OSP: An OSP providing application services within national boundaries of India.
2.   International OSP: OSP providing services beyond the national boundaries of the of the country.
3.   Domestic and International – This type of License enables you to call both in India and outside India as well.
Benefits
Benefits of OSP:
1.   No legal hurdle in the easy running of the BPO or business because of the valid License.
2.   Easier to expand the business in India and overseas as it acts as a proof of accountability.
Procedure
The procedure of Obtaining an OSP License:
1.   On the official online website of the Department of Telecommunication, fill the available application form.
2.   Pay the registration amount of Rs. 1000
3.   Submit the required documents mentioned below to the concerned authority.
4.   OSP License will be issued electronically.
Documents
Documents required for OSP Registration:
1.   Company PAN Card
2.   Registrar of Company issued Certificate of Incorporation
3.   MoA and AoA of the Company
4.   Board Resolution or Power of Attorney authorized and attested signatures
5.   Details of the present Directors of the company
6.   Nature of OSP required
7.   Equity details and recent shareholding pattern
8.   Telecom Service Provider approved network diagram
Other Information
After OSP is being issued, few compliances have to be made:
1.   With a government fee of Rs. 1000 on OSP Registration, the validity of OSP Licence is 20 Years from the date of registration of the OSP.
2.   End of every financial year a report of annual return is to be submitted to the department of telecommunication.
3.   Telecommunication Department should be informed about any changes that have been in the OSP License.
4.   Terms and Condition laid down by the Department of Telecommunication should be complied with.
5.   Only PTSN connectivity is permitted to have both inbound & Outbound calls at foreign end but international OSP is not allowed to use PTSN connectivity.
About Us
LetsComply is a full service law firm and is the best platforms for all your Legal, Finance and Taxation needs. LetsComply is one of the leading law firms in India and having team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, IP Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
For More Information and Contact US: https://www.letscomply.com/osp-licence/
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SERVICES PROVIDED BY US:
Foreign Investment in India| Setting-up of Business in India |Virtual CFO| Virtual General Council| Income Tax | GST Registration & Returns |Trademark registration | Company Registration | LLP Registration |NGO| Company Annual Compliances | Drafting & Vetting of Agreements |Opinion & Advisory on Different Issues| FSSAI Licenses| ESI & EPF | ISO certification |Shop & Establishment Registration |MSME Registration| SEIS/MEIS Services| DGFT| Legal Notices
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letscomply · 3 years
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What are the documents required to start an Import Export Code business in India?
Any person, Proprietorship, Partnership, LLP, Society or HUF importing or exporting services or goods from India requires Import Export Code, commonly referred to as IEC is a unique 10 digit code, issued under Ministry of Commerce and Industries by Directorate General of Foreign Trade, Government of India by an application made to DGFT along with required documents. This was issued on July 27th,2006 as on Any Import or Export of goods and services by a person, proprietorship, Partnership, LLP, Society, or HUF without an existence IEC shall not be legal and allowed.
Since IE Code registration is permanent registration which is valid for a lifetime or till the business is revoked or surrendered and therefore no hassles for updating, filing, and renewal of IE Code registration. Further, different from tax registrations like PF registration, the importer or exporter doesn’t require to file any filings or follow other compliance requirements like annual filing.
IEC is required in the following situations
1.   Clear shipments from customs, custom authorities need this IEC from importers.
2.   It’s needed by the bank when money is sent to an abroad bank by the importer.
3.   It is required by customs port when the consignment is sent by the exporter.
4.   It is required by the bank when an exporter receives the money directly into his bank account in a foreign currency.
Benefits
Benefits of IEC:
1.   International Market Reach: It helps in expanding the business to the international level and with expansion, there will be an increase in both revenue and growth of the person or organization.
2.   Life Time Validity: There no follow-up procedure of Updating, Filing, and renewal as the validity of this document is lifetime, making it a permanent document and hence no annual maintenance or renewal fee for any financial year.
3.   Reduces the Risk of Illegal Transportation: Since it’s a centralized registration, the officials are able to supervise and manage the transactions of import and export, taking across the border in an easier and more effective manner which reduces the risk of illegal transportation.
4.   No Return Filing: Once the registration is sorted, there is no need to file returns annually of the company.
5.   Benefits of Schemes: Any business registered with IEC will be eligible to avail benefits declared by Export Promotion Council, Customs, and other authorities. If LUT is filed under GST, then the business is exempted from paying taxes, and already paid tax is refunded.
Documents
Documents required for Import Export Code Registration:
1.   Pan Card of Firm, Organization, or Individual.
2.   Aadhar Card Copy of Passport Copy of Firm, Organization, or Individual.
3.   Canceled cheque copy of current bank account of Firm, Organization, or Individual.
4.   Electricity bill copy and copy of the rent agreement of the premises.
5.   DSC
Registration Process
Process of obtaining IEC Registration:
1.   Along with Aayaat Niryaat Form No. 2A, an application is needed to be prepared and filed at the regional office of DGFT.
2.   With respect to ANF2A a certificate, required documents regarding the identity of an individual, legal entity, address proof along with bank details are to be prepared for submission.
3.   Pay registration fee for IEC registration after the application is completed and filed with DGFT via Digital Signature Certificate.
4.   The soft copy will be sent by the government once the application is approved and processed.
Any Other Information
Here is the list of importers or exporters who are exempted from obtaining Importer – Exporter Code (IEC) number:
1.   Importers covered under clause 3 (1) [except sub-clauses (e) and (l)] and Exporters covered under clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
2.   Any Ministries or any Departments under Central or State Government.
3.   Any Person is importing or exporting goods for private use not connected with trade or manufacture or agriculture.
4.   Any person importing or exporting goods from or to Nepal provided the CIF value of one consignment that doesn’t exceed Indian Rs.25,000.
5.   Any person importing or exporting goods from or to Myanmar through Indo-Myanmar border areas provided the CIF value of one consignment doesn’t exceed Indian Rs.25,000.
About Us
LetsComply is a full-service law firm and is the best platform for all your Legal, Finance, and Taxation needs. Letscomply is one of the leading law firms in India and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, IP Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth. 
For More Information and Contact US: https://www.letscomply.com/import-export-code/
Contact Us:
+91-97-1707-0500    
https://www.letscomply.com/
SERVICES PROVIDED BY US: 
Foreign Investment in India| Setting-up of Business in India |Virtual CFO| Virtual General Council| NCLT Matters | IBC matters| Income Tax | GST Registration & Returns |Trademark registration | Company Registration | LLP Registration |NGO| Company Annual Compliances | Drafting & Vetting of Agreements |Opinion & Advisory on Different Issues| FSSAI Licenses| ESI & EPF | ISO certification |Shop & Establishment Registration |MSME Registration| SEIS/MEIS Services| DGFT| Legal Notices.
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