The document discusses reverse charge mechanism under service tax in India. It provides addresses of the company's offices in Chennai, Bangalore and Coimbatore. It then discusses that under certain circumstances, the liability to pay service tax shifts from the service provider to the service recipient. It lists several services that are covered under the reverse charge mechanism, including import of services, services of insurance agents, goods transport agency, sponsorship, tribunal services, and services of directors of a company.
The document discusses various tax-related identification numbers and concepts in India including the Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), Tax Information Network (TIN), and Service Tax. It provides details on what each number is, who requires it, how it is obtained and structured. Key locations and contact details for the organization are also listed at the top.
Accounts payable and receivable introductionsAltacit Global
The document discusses accounts payable and receivable processes. It describes accounts payable as money owed to creditors for goods or services purchased on credit. The accounts payable process involves verifying vendor invoices by matching them to purchase orders and receipts. Accounts receivable is money owed by customers who purchased goods or services on credit. Companies must monitor accounts receivable aging and estimate uncollectible amounts to maintain accurate financial reporting.
The document contains information about Altacit, an organization that provides technology transfer services. It lists their office addresses and contact details in Chennai, Bangalore, Coimbatore, and Hyderabad. It then discusses definitions, methods, pros and cons, financial implications, and the conclusion that technology transfer plays an important role in development.
You can even examine different alternatives to recognize typically the Calgary homes. You can even examine the World Wide Web and see several websites from which you could quickly invest in homes throughout mls Calgary se. You will see possibilities through which you may book your own personal dream property. All of these on the web possibilities offer enormous discounts on their buyers. It also includes out and about different ways when you will get to know different varieties of houses in the market.
Future Retail adopted SAP in 2005 to address issues with disparate legacy systems as the company rapidly expanded. They implemented SAP Retail over 6 months at a cost of $10 million to gain enterprise-wide visibility and improve operations. The implementation involved blueprinting processes, developing the SAP platform with a template, and porting large amounts of previously unorganized data to the new system. Future Retail realized financial, strategic, and operational benefits including more accurate reporting, lower costs, faster financial closes, and reduced receivables.
Dhananjay Anumandla and Shaunak Sontakke presented on the IT infrastructure and applications used by Big Bazaar. Big Bazaar is a large Indian retailer with over 200 stores. Their presentation covered the network design connecting stores and data centers, intranet applications for employees, their website and mobile apps, and how technologies like RFID, SOA, cloud computing and grid computing help Big Bazaar operate more efficiently.
The document provides information about income tax slabs and rates for the financial year 2018-19 in India. It summarizes tax rates for individuals, HUF, senior citizens, and companies. It also describes various tax saving investment options available under Section 80C of the Income Tax Act such as tax saving fixed deposits, PPF, EPF, NPS, life insurance premiums, tuition fees, home loan repayments, and Sukanya Samriddhi Yojana. The maximum tax deduction allowed under Section 80C is Rs. 1.5 lakh per financial year.
The document discusses various tax-related identification numbers and concepts in India including the Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), Tax Information Network (TIN), and Service Tax. It provides details on what each number is, who requires it, how it is obtained and structured. Key locations and contact details for the organization are also listed at the top.
Accounts payable and receivable introductionsAltacit Global
The document discusses accounts payable and receivable processes. It describes accounts payable as money owed to creditors for goods or services purchased on credit. The accounts payable process involves verifying vendor invoices by matching them to purchase orders and receipts. Accounts receivable is money owed by customers who purchased goods or services on credit. Companies must monitor accounts receivable aging and estimate uncollectible amounts to maintain accurate financial reporting.
The document contains information about Altacit, an organization that provides technology transfer services. It lists their office addresses and contact details in Chennai, Bangalore, Coimbatore, and Hyderabad. It then discusses definitions, methods, pros and cons, financial implications, and the conclusion that technology transfer plays an important role in development.
You can even examine different alternatives to recognize typically the Calgary homes. You can even examine the World Wide Web and see several websites from which you could quickly invest in homes throughout mls Calgary se. You will see possibilities through which you may book your own personal dream property. All of these on the web possibilities offer enormous discounts on their buyers. It also includes out and about different ways when you will get to know different varieties of houses in the market.
Future Retail adopted SAP in 2005 to address issues with disparate legacy systems as the company rapidly expanded. They implemented SAP Retail over 6 months at a cost of $10 million to gain enterprise-wide visibility and improve operations. The implementation involved blueprinting processes, developing the SAP platform with a template, and porting large amounts of previously unorganized data to the new system. Future Retail realized financial, strategic, and operational benefits including more accurate reporting, lower costs, faster financial closes, and reduced receivables.
Dhananjay Anumandla and Shaunak Sontakke presented on the IT infrastructure and applications used by Big Bazaar. Big Bazaar is a large Indian retailer with over 200 stores. Their presentation covered the network design connecting stores and data centers, intranet applications for employees, their website and mobile apps, and how technologies like RFID, SOA, cloud computing and grid computing help Big Bazaar operate more efficiently.
The document provides information about income tax slabs and rates for the financial year 2018-19 in India. It summarizes tax rates for individuals, HUF, senior citizens, and companies. It also describes various tax saving investment options available under Section 80C of the Income Tax Act such as tax saving fixed deposits, PPF, EPF, NPS, life insurance premiums, tuition fees, home loan repayments, and Sukanya Samriddhi Yojana. The maximum tax deduction allowed under Section 80C is Rs. 1.5 lakh per financial year.
This document contains information about income tax slabs and rates in India for the financial year 2015-16. It provides tax rates and slabs for individual taxpayers including general taxpayers, women, senior citizens and super senior citizens. It also outlines tax rates and slabs for businesses including cooperative societies, firms, local authorities, domestic companies and foreign companies. The document lists various income tax deductions available under Section 80C and other sections. It also defines key terms related to income tax in India.
Woman director under the Indian companies act, 2013Altacit Global
The document discusses the key provisions around directors under the Companies Act 2013. Some of the main points discussed include: the Act requires listed companies to have at least one woman director; it introduces requirements around resident directors, independent directors, and maximum number of directorships; and discusses classification of directors and key aspects around appointment and liability of directors.
This document provides an overview of the key provisions related to One Person Companies (OPCs) under the Indian Companies Act, 2013. It outlines who can incorporate an OPC, the application process, requirements to appoint a nominee, restrictions, provisions around directors and meetings, financial reporting requirements, and contracts between an OPC and its sole member. Specifically, it notes an OPC can only have one member who must be an Indian citizen, a nominee must be appointed, no person can incorporate or be a nominee of more than one OPC, and resolutions can be passed and meetings conducted by the sole member or director.
The document discusses wrongful termination and the various types of wrongful termination claims an employee can make against an employer. It provides information on the different types of wrongful termination including discrimination, retaliation, and constructive discharge. It also summarizes the damages available to employees who successfully sue their employer for wrongful termination such as back pay, lost benefits, emotional distress damages, and punitive damages depending on the legal claims. The document is published by Altacit Global and discusses wrongful termination laws and remedies.
Legal action agaisnt credit card defaultersAltacit Global
The document discusses legal action that is permissible against credit card payment defaulters in India. It provides addresses and contact information for the Altacit Global law firm in Chennai, Bangalore, and Coimbatore. It then summarizes Indian laws regarding credit cards, debt collection, and the difference between civil and criminal cases for non-payment of credit card dues. Guidelines from the Reserve Bank of India on credit card terms and debt collection are also discussed. Recent high court judgments that prevent criminal cases from being filed in civil disputes like credit card debt are summarized.
Steps in mergers and acquisitions of a companyAltacit Global
This document discusses key steps and considerations for mergers and acquisitions under Indian law. It provides an overview of the types of mergers and acquisitions, relevant sections of the Companies Act 2013, requirements under competition law, and tax implications under the Income Tax Act 1961. Procedures for obtaining regulatory approvals from the NCLT, RBI, and Competition Commission of India are outlined.
The document discusses key aspects of the Insolvency and Bankruptcy Code, 2016 introduced in India. It aims to create a single law for insolvency and bankruptcy to consolidate existing framework. The code establishes authorities like the Insolvency and Bankruptcy Board of India as the regulator and National Company Law Tribunal and Debt Recovery Tribunal to handle corporate and individual cases respectively. It also establishes roles of insolvency professionals and information utilities in efficient resolution process. The code seeks to reduce resolution time from over 4 years currently to less than 1 year.
The document discusses various tax saving bonds available in India such as RBI Relief Bonds, IDFC Infrastructure Bonds, and NHAI/REC Bonds. It provides details on the minimum investment amounts, interest payment options, lock-in periods, and tax benefits of these popular bonds. Investing in tax saving bonds allows individuals to claim an income tax deduction of up to Rs. 20,000 in addition to the Rs. 1 lakh deduction available under other tax saving sections. The document concludes that tax saving bonds provide a stable and hassle-free means of investment while reducing tax liability.
The document discusses the liability of intermediaries in India. It provides addresses and contact details for the company's offices in Chennai, Bangalore and Coimbatore. It then discusses key topics regarding intermediary liability including: what intermediaries are; their liability under Indian law; the need for regulating intermediary liability; ISP liability for copyright infringement; the Information Technology (Intermediary Guidelines) Rules, 2011; how intermediaries can be targeted for defamatory content; and some relevant case laws around intermediary liability.
The document provides information about the Insolvency and Bankruptcy Code passed in India in 2016, including:
1) It consolidated various existing insolvency laws in India and established a single law and time-bound process to deal with insolvent businesses.
2) It aims to reduce the time taken to resolve insolvency cases from an average of 4.3 years to 1 year.
3) The Code established mechanisms like insolvency professionals, information utilities, and committees of creditors to efficiently handle insolvency resolution and bankruptcy proceedings.
Rights of employees under insolvent companiesAltacit Global
This document provides contact details for various offices of a company called Altacit located across different cities in India. It also provides the company's email address and website. The subsequent paragraphs discuss provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) related to the rights of employees under the code. It defines key terms like financial creditor, operational creditor, financial debt and operational debt. It explains that employees are considered operational creditors under IBC and unpaid salaries would be treated as operational debt. It discusses the process for initiation of Corporate Insolvency Resolution Process by an operational creditor as provided in the code.
This document discusses the Motor Vehicles Act 1988 and motor accident claims in India. It summarizes key aspects such as the creation of Motor Accidents Claims Tribunals to provide faster compensation, the entitlement to claim compensation for injury or death from motor accidents, and the use of mediation and Lok Adalats as alternative dispute resolution methods to help address the large backlog of pending motor accident claim cases in India. It also summarizes the key details and outcome of the Supreme Court case M.R. Krishna Murti v. The New India Insurance Civil Appeal Nos. 2476-2477 of 2019, which envisaged the creation of a Motor Accident Mediation Authority under the National Legal Services Authority to
The document provides information about Altacit, an intellectual property firm, including their office addresses and contact details. It then discusses various topics related to patents, including the meaning of a patent, patent pools, the patent pool process, benefits of patent pools, the definition and objective of antitrust laws, and examples of relevant case laws on antitrust like United States v. Trans-Missouri Freight Association and Chicago Board of Trade v. United States.
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
1) TDS or tax deducted at source is a mechanism for collecting income tax by deducting tax from payments made by individuals or companies.
2) Under TDS, the person deducting tax (deductor) deducts tax from payments
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
1) TDS or tax deducted at source is a mechanism for collecting income tax by deducting tax from payments made by the payer (deductor) to the payee (deductee).
2) A deductor is responsible for
This document provides an overview of limited liability partnerships (LLPs) under Indian law. It discusses the origin and key features of LLPs, including that they provide limited liability for partners like companies but also allow flexibility in internal structure like partnerships. The document outlines the formation process for LLPs in India and compares LLPs to partnerships and private companies. It also discusses advantages of the LLP structure.
Steps to incorporation of a company in indiaAltacit Global
The document outlines the key steps involved in incorporating a company in India according to the Companies Act. It discusses types of companies, digital signatures, director identification numbers, name approval, preparing the memorandum and articles of association, filing incorporation applications, fast track registration using Form INC-29, and amendments to the Companies Act regarding minimum paid-up capital.
This document provides information about class action lawsuits, including:
- A definition of class action lawsuits and examples of common cases.
- Characteristics like numerosity, common questions of law/fact, and adequacy of representation.
- Advantages like efficiency, lower costs, opportunity to litigate smaller claims.
- Context for class actions in India under Order 1 Rule 8 of CPC and section 245 of Companies Act 2013.
- How judgements are applied to all class members.
The document discusses the taxation of income from house property under the Indian Income Tax Act. It provides definitions of key terms like annual value and outlines the process for computing taxable income from a house property. This involves determining the annual rental value, deducting municipal taxes paid, then allowing deductions like a 30% standard deduction and interest paid on loans taken for the property. The summary highlights the essential steps to calculate income from house property for tax purposes in India.
Role of sebi in market management and corporate governanceAltacit Global
The document discusses the role of the Securities Exchange Board of India (SEBI) in regulating the capital markets and corporate governance in India. It provides details on SEBI's objectives to protect investors, regulate intermediaries and ensure fair practices in the market. SEBI functions through departments and advisory committees to achieve its goals of regulatory oversight, transparency and investor protection. It oversees stock exchanges, licenses brokers and monitors mergers and acquisitions. SEBI aims to create an efficient market that facilitates business needs while preventing fraud and promoting good governance.
The document outlines key details from the draft Unmanned Aircraft System Rules, 2020 released by the Directorate General of Civil Aviation (DGCA) of India. Some of the major points covered in the draft rules include requiring prior authorization for manufacturing, importing, owning and operating drones; eligibility conditions for authorization; insurance requirements; rules around carrying payloads and restrictions on photography; and the framework for establishing drone ports and corridors. The document also discusses definitions related to unmanned aircraft systems and drones, categories of drones based on weight, and potential future areas where drones may be used such as for BVLOS (Beyond Visual Line of Sight) operations and delivery of goods.
The document discusses the issue of sexual harassment during work from home arrangements brought about by the COVID-19 pandemic. It notes that while employees are physically at home, they are still considered to be in the workplace as per law. Virtual forms of harassment can include inappropriate clothing or behavior during video calls, sending unwanted pictures, or demanding late night calls from female employees. Maintaining professional standards of conduct and being sensitive to how actions could make others uncomfortable are important to prevent virtual harassment during the pandemic.
This document contains information about income tax slabs and rates in India for the financial year 2015-16. It provides tax rates and slabs for individual taxpayers including general taxpayers, women, senior citizens and super senior citizens. It also outlines tax rates and slabs for businesses including cooperative societies, firms, local authorities, domestic companies and foreign companies. The document lists various income tax deductions available under Section 80C and other sections. It also defines key terms related to income tax in India.
Woman director under the Indian companies act, 2013Altacit Global
The document discusses the key provisions around directors under the Companies Act 2013. Some of the main points discussed include: the Act requires listed companies to have at least one woman director; it introduces requirements around resident directors, independent directors, and maximum number of directorships; and discusses classification of directors and key aspects around appointment and liability of directors.
This document provides an overview of the key provisions related to One Person Companies (OPCs) under the Indian Companies Act, 2013. It outlines who can incorporate an OPC, the application process, requirements to appoint a nominee, restrictions, provisions around directors and meetings, financial reporting requirements, and contracts between an OPC and its sole member. Specifically, it notes an OPC can only have one member who must be an Indian citizen, a nominee must be appointed, no person can incorporate or be a nominee of more than one OPC, and resolutions can be passed and meetings conducted by the sole member or director.
The document discusses wrongful termination and the various types of wrongful termination claims an employee can make against an employer. It provides information on the different types of wrongful termination including discrimination, retaliation, and constructive discharge. It also summarizes the damages available to employees who successfully sue their employer for wrongful termination such as back pay, lost benefits, emotional distress damages, and punitive damages depending on the legal claims. The document is published by Altacit Global and discusses wrongful termination laws and remedies.
Legal action agaisnt credit card defaultersAltacit Global
The document discusses legal action that is permissible against credit card payment defaulters in India. It provides addresses and contact information for the Altacit Global law firm in Chennai, Bangalore, and Coimbatore. It then summarizes Indian laws regarding credit cards, debt collection, and the difference between civil and criminal cases for non-payment of credit card dues. Guidelines from the Reserve Bank of India on credit card terms and debt collection are also discussed. Recent high court judgments that prevent criminal cases from being filed in civil disputes like credit card debt are summarized.
Steps in mergers and acquisitions of a companyAltacit Global
This document discusses key steps and considerations for mergers and acquisitions under Indian law. It provides an overview of the types of mergers and acquisitions, relevant sections of the Companies Act 2013, requirements under competition law, and tax implications under the Income Tax Act 1961. Procedures for obtaining regulatory approvals from the NCLT, RBI, and Competition Commission of India are outlined.
The document discusses key aspects of the Insolvency and Bankruptcy Code, 2016 introduced in India. It aims to create a single law for insolvency and bankruptcy to consolidate existing framework. The code establishes authorities like the Insolvency and Bankruptcy Board of India as the regulator and National Company Law Tribunal and Debt Recovery Tribunal to handle corporate and individual cases respectively. It also establishes roles of insolvency professionals and information utilities in efficient resolution process. The code seeks to reduce resolution time from over 4 years currently to less than 1 year.
The document discusses various tax saving bonds available in India such as RBI Relief Bonds, IDFC Infrastructure Bonds, and NHAI/REC Bonds. It provides details on the minimum investment amounts, interest payment options, lock-in periods, and tax benefits of these popular bonds. Investing in tax saving bonds allows individuals to claim an income tax deduction of up to Rs. 20,000 in addition to the Rs. 1 lakh deduction available under other tax saving sections. The document concludes that tax saving bonds provide a stable and hassle-free means of investment while reducing tax liability.
The document discusses the liability of intermediaries in India. It provides addresses and contact details for the company's offices in Chennai, Bangalore and Coimbatore. It then discusses key topics regarding intermediary liability including: what intermediaries are; their liability under Indian law; the need for regulating intermediary liability; ISP liability for copyright infringement; the Information Technology (Intermediary Guidelines) Rules, 2011; how intermediaries can be targeted for defamatory content; and some relevant case laws around intermediary liability.
The document provides information about the Insolvency and Bankruptcy Code passed in India in 2016, including:
1) It consolidated various existing insolvency laws in India and established a single law and time-bound process to deal with insolvent businesses.
2) It aims to reduce the time taken to resolve insolvency cases from an average of 4.3 years to 1 year.
3) The Code established mechanisms like insolvency professionals, information utilities, and committees of creditors to efficiently handle insolvency resolution and bankruptcy proceedings.
Rights of employees under insolvent companiesAltacit Global
This document provides contact details for various offices of a company called Altacit located across different cities in India. It also provides the company's email address and website. The subsequent paragraphs discuss provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) related to the rights of employees under the code. It defines key terms like financial creditor, operational creditor, financial debt and operational debt. It explains that employees are considered operational creditors under IBC and unpaid salaries would be treated as operational debt. It discusses the process for initiation of Corporate Insolvency Resolution Process by an operational creditor as provided in the code.
This document discusses the Motor Vehicles Act 1988 and motor accident claims in India. It summarizes key aspects such as the creation of Motor Accidents Claims Tribunals to provide faster compensation, the entitlement to claim compensation for injury or death from motor accidents, and the use of mediation and Lok Adalats as alternative dispute resolution methods to help address the large backlog of pending motor accident claim cases in India. It also summarizes the key details and outcome of the Supreme Court case M.R. Krishna Murti v. The New India Insurance Civil Appeal Nos. 2476-2477 of 2019, which envisaged the creation of a Motor Accident Mediation Authority under the National Legal Services Authority to
The document provides information about Altacit, an intellectual property firm, including their office addresses and contact details. It then discusses various topics related to patents, including the meaning of a patent, patent pools, the patent pool process, benefits of patent pools, the definition and objective of antitrust laws, and examples of relevant case laws on antitrust like United States v. Trans-Missouri Freight Association and Chicago Board of Trade v. United States.
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
1) TDS or tax deducted at source is a mechanism for collecting income tax by deducting tax from payments made by individuals or companies.
2) Under TDS, the person deducting tax (deductor) deducts tax from payments
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
1) TDS or tax deducted at source is a mechanism for collecting income tax by deducting tax from payments made by the payer (deductor) to the payee (deductee).
2) A deductor is responsible for
This document provides an overview of limited liability partnerships (LLPs) under Indian law. It discusses the origin and key features of LLPs, including that they provide limited liability for partners like companies but also allow flexibility in internal structure like partnerships. The document outlines the formation process for LLPs in India and compares LLPs to partnerships and private companies. It also discusses advantages of the LLP structure.
Steps to incorporation of a company in indiaAltacit Global
The document outlines the key steps involved in incorporating a company in India according to the Companies Act. It discusses types of companies, digital signatures, director identification numbers, name approval, preparing the memorandum and articles of association, filing incorporation applications, fast track registration using Form INC-29, and amendments to the Companies Act regarding minimum paid-up capital.
This document provides information about class action lawsuits, including:
- A definition of class action lawsuits and examples of common cases.
- Characteristics like numerosity, common questions of law/fact, and adequacy of representation.
- Advantages like efficiency, lower costs, opportunity to litigate smaller claims.
- Context for class actions in India under Order 1 Rule 8 of CPC and section 245 of Companies Act 2013.
- How judgements are applied to all class members.
The document discusses the taxation of income from house property under the Indian Income Tax Act. It provides definitions of key terms like annual value and outlines the process for computing taxable income from a house property. This involves determining the annual rental value, deducting municipal taxes paid, then allowing deductions like a 30% standard deduction and interest paid on loans taken for the property. The summary highlights the essential steps to calculate income from house property for tax purposes in India.
Role of sebi in market management and corporate governanceAltacit Global
The document discusses the role of the Securities Exchange Board of India (SEBI) in regulating the capital markets and corporate governance in India. It provides details on SEBI's objectives to protect investors, regulate intermediaries and ensure fair practices in the market. SEBI functions through departments and advisory committees to achieve its goals of regulatory oversight, transparency and investor protection. It oversees stock exchanges, licenses brokers and monitors mergers and acquisitions. SEBI aims to create an efficient market that facilitates business needs while preventing fraud and promoting good governance.
Similar to Service tax reverse charge mechanism (20)
The document outlines key details from the draft Unmanned Aircraft System Rules, 2020 released by the Directorate General of Civil Aviation (DGCA) of India. Some of the major points covered in the draft rules include requiring prior authorization for manufacturing, importing, owning and operating drones; eligibility conditions for authorization; insurance requirements; rules around carrying payloads and restrictions on photography; and the framework for establishing drone ports and corridors. The document also discusses definitions related to unmanned aircraft systems and drones, categories of drones based on weight, and potential future areas where drones may be used such as for BVLOS (Beyond Visual Line of Sight) operations and delivery of goods.
The document discusses the issue of sexual harassment during work from home arrangements brought about by the COVID-19 pandemic. It notes that while employees are physically at home, they are still considered to be in the workplace as per law. Virtual forms of harassment can include inappropriate clothing or behavior during video calls, sending unwanted pictures, or demanding late night calls from female employees. Maintaining professional standards of conduct and being sensitive to how actions could make others uncomfortable are important to prevent virtual harassment during the pandemic.
Information technology guidelines for intermediaries and digital media ethics...Altacit Global
The document provides an overview of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 notified in India.
The key points are:
1. The Rules regulate intermediaries, social media intermediaries, publishers of news/current affairs content, and online curated content publishers.
2. For intermediaries, the Rules prescribe due diligence requirements around user notifications, content takedowns, grievance redressal etc.
3. Significant social media intermediaries must comply with additional obligations regarding local presence, identification of originators, monthly compliance reports etc.
Returns and refunds consumer protection actAltacit Global
This document provides information on the Consumer Protection Act 2019 in India including key definitions, rights of consumers, refund and cancellation policies, and product liability. It discusses that the Act aims to protect consumer interests and provide effective resolution of disputes. Some key points covered include definitions of consumer and consumer rights, time limits for returns, no-cost returns, and provisions for product manufacturer liability for defects. Contact information is also provided for multiple locations of the company.
This document discusses the rights of the unborn child under various statutes in India. It summarizes key provisions from several acts and codes:
- The Limitation Act 1953 considers an unborn child as a minor for the purposes of filing legal claims.
- The Indian Succession Act 1925 defines a minor as under 18, implying an unborn child is also considered a minor.
- The Indian Penal Code 1860 criminalizes causing miscarriage or death of an unborn child in certain situations.
- The Hindu Succession Act 1956 grants an unborn child equal inheritance rights as a born child for intestate succession.
The document analyzes how different laws in India implicitly or explicitly recognize various rights
This document provides contact information for various offices of Altacit, an organization based in India. It then discusses the grounds for divorce under Hindu marriage law in India. The key grounds covered are adultery, cruelty, desertion, conversion, insanity, renunciation, and presumption of death. Examples are provided for what constitutes each ground. It is noted that leprosy and venereal diseases were removed as grounds in 2015 at the suggestion of the UN.
This document provides information about alimony laws in India. It defines alimony as the right to receive maintenance after divorce. The main purposes of alimony are to prevent unfair financial impacts of divorce and allow a spouse to maintain their standard of living. The two types of alimony are interim and permanent. When determining alimony amounts, courts consider factors like earnings, marriage length, misconduct, and standard of living. Alimony is governed by different laws for Hindus, Muslims and other religions.
This document discusses different types of patent licensing. It defines patent licensing as granting permission to a third party to use, sell, and benefit from a patented invention in exchange for royalty payments. There are several types of patent licenses: exclusive licenses grant all rights except title to one licensee; non-exclusive licenses allow a patent owner to grant rights to multiple parties; sub-licenses are granted by licensees to third parties; and cross-licenses allow an exchange of licenses between companies. The document also discusses advantages like risk transfer and access to global markets, as well as challenges like loss of control and difficulty finding licensees.
This document summarizes surrogacy laws in India. It begins by defining surrogacy and explaining the different types, including traditional vs gestational and altruistic vs commercial. It then discusses the history and origins of surrogacy and assisted reproductive technology. The document analyzes India's Assisted Reproductive Technology Regulation Bill of 2010 and 2016, highlighting relevant sections that regulate surrogacy clinics, create oversight boards, ban commercial surrogacy, and penalize violations. Both the pros and cons of the bills are discussed. While banning commercial surrogacy aims to reduce exploitation, it also limits an industry that boosts India's economy. The conclusion acknowledges this is a start but flaws need addressing before the bill becomes law.
This document provides information about IRS Form W-9, including how it is used, how to complete it, acceptable filing methods, and its role in the tax filing process for independent contractors and self-employed individuals. Form W-9 is used by businesses to request taxpayer identification information from contractors to file 1099-MISC tax forms. It can be completed on paper or electronically, and helps payees avoid backup withholding by certifying they are not subject to it. Completing a W-9 is the first step for self-employed workers to have their tax returns filed.
Tamilnadu regulation of rights and responsibilities of landlords and tenants ...Altacit Global
The document discusses the key aspects of the Tamil Nadu Regulation of Rights and
Responsibilities of Landlords and Tenants Act 2017, which was enacted to regulate rental
housing in the state. Some key points include:
- It mandates all tenancy agreements to be in writing and registered with the Rent Authority.
- It applies to existing tenancies which must be registered within 90 days.
- It aims to facilitate landlords and tenants and provide affordable housing for all, given Tamil
Nadu's high rate of urbanization and rental housing.
Requirements for operation of civil remotely piloted aircraft systemAltacit Global
The document summarizes India's new Drone Regulation policy released by the Directorate General of Civil Aviation (DGCA) in August 2018. Some key points:
- The policy provides requirements for operating civil remotely piloted aircraft (drones), including obtaining operator permits and unique identification numbers.
- It establishes eligibility criteria for drone pilots, categories of drones based on weight, and restricted "red" and regulated "yellow" zones for drone flights.
- Violations can result in penalties like permit cancellations or legal action under the Indian Penal Code, with imprisonment and fines outlined in the Aircraft Act of 1934.
The regulation aims to legalize and standardize drone usage in India for the first time
The document discusses the doctrine of originality in copyright. It provides details on the tests used to determine if a work is original and eligible for copyright protection including the sweat of the brow test, modicum of creativity test, and skill and judgement test. It also outlines the requirements for originality which include independent creation by the author with a minimal level of creativity. Indian law focuses on whether the author exercised skill and judgement in creating the work.
This document outlines the process for restoring a lapsed patent in India. It discusses how a patent owner can file an application for restoration within 18 months of the patent lapsing due to non-payment of renewal fees. The application must show the failure to pay was unintentional and there has been no undue delay. It describes the publication, opposition, and hearing process and notes restored patents include provisions to protect intervening users.
This document discusses celebrity rights in India. It begins with an introduction to celebrity rights as a significant development in intellectual property law that allows celebrities to benefit financially from their public image and prevent unauthorized commercial use. It then outlines the different types of celebrity rights, including personality rights, privacy rights, and publicity/merchandising rights. Key cases related to celebrity rights in India are also summarized. The document concludes by stating the need for specific celebrity rights legislation in India to protect celebrities while also respecting privacy and fundamental rights.
The Technology Development Board (TDB) of India was established in 1996 to promote development and commercialization of indigenous technology. It provides financial assistance in the form of equity, loans, and grants to industrial companies and research institutions. TDB aims to support innovative projects, foster partnerships between industry and research organizations, and help create new jobs through technological development. It receives funds from government grants and recoveries and operates with the goal of making India a global leader in technology and innovation.
Sebi (prohibition of insider trading) regulations, 2015Altacit Global
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1. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Reverse Charge Mechanism.
Under Service Tax
By
Valli
2. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Reverse Charge Mechanism Under
Service Tax -Introduction
• Service tax is the tax levied by the government on
taxable services. Service Tax is guided by the
provisions of Chapter V of the Finance Act, 1994 and
the service tax rules, 1994. Thus the finance act,
amendments to the finance acts provided in every
annual budget and the corresponding service tax rules
define the scope, extent and other conditions of levy of
service tax under Service tax Reverse charge
mechanism.
• As per section 68(1) of the Finance Act, 1994, every
person providing taxable services to any other person
shall pay service tax at rate specified in section 66.The
liability to pay service tax lies with the service
provider. He shall collect the service tax from the
service recipients and thus pay it to the account of
government.
3. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Contn..
• But along with this, section 68(2) states that, central
government may specify any other person who shall
be liable to pay service tax and thus all provisions of
service tax shall apply normally. This means any
person other than service provider, i.e., the service
recipient shall be made liable to pay the service tax.
This mechanism of shifting the service tax liability
from service provider to the service recipient is known
as service tax reverse charge mechanism.
• The concept of reverse charge mechanism under
service tax was introduced with 1997 by inserting a
new subsection 68(1A) with notification no. 30/2012-
ST
4. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Registration under Service Tax
Every person who is liable to pay service tax shall take
registration under service tax as per section 69 of
Finance Act, 1994
Service recipient shall obtain registration under service
tax as recipient of service, pay service tax and file
return
Assessees who have to take registration :
Service provider who has provided a taxable services
of value exceeding Rs. 9 lakhs in the preceding
financial year
Service receiver liable to pay service tax under reverse
charge mechanism u/s 68(2) / rule 2(1)(d)
Input service distributor
Importer of service being person liable u/s 68(2)
5. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Applicability of Reverse Charge
Mechanism In Service Tax ( RCM):
• Only on receiving specific services , reverse charge
mechanism is applicable. service receiver are liable
to pay service tax under reverse charge. This is not
applicable for all the service receiver.
• Service receiver is not paying extra service tax due to
reverse charge mechanism. The amount of service tax
payment is remained the same but liability to pay tax
to government is apportioned between
service receiver and service provider.
WHEN TO PAY TAX UNDER REVERSE CHARGE?
• Service receiver has to pay tax on reverse charge
only on making payment to service provider. The
condition is that service receiver should pay within
6 months from issuance of invoice.
6. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Services under Reverse Charge
Mechanism
1) Import of services:
In case the service provider is located outside India and
any person is importing his services, i.e., service
recipient shall be liable to pay service tax for such
services.
2) Services of insurance agent:
Where an insurance agent is providing his services to a
person/company carrying on insurance business, i.e.,
services of insurance agent to the insurance company,
service recipient (insurance company) shall be liable to
pay service tax. 100% liability lies with the insurance
company and the normal rate shall apply.
7. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Contn…
3) Services of goods transport agency (GTA):
GTA are a major component of reverse charge
mechanism. GTA provide the service of transportation
of goods by road by issuing a consignment note.
Person paying the freight shall be the service recipient
who shall be liable to pay service tax on such service.
4) Services of sponsorship:
Under the service tax reverse charge mechanism,
providing sponsorship is also considered a service
which is covered under reverse charge mechanism.
This means, the person receiving the sponsorship
shall pay the service tax on the same.
8. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Contn..
5) Services of a tribunal:
Tribunal or the arbitral tribunal is the panel of persons
who solve disputes by way of arbitration (settlement).
This is one of the services considered under service
tax reverse charge mechanism. Thus the person
receiving the services of tribunal, i.e., whose conflict is
getting resolved will be the service recipient and will
be liable to pay service tax.
6) Services of advocates:
Services of advice or consultancy related to any law or
representation before court or any other authority
from the advocates are also included under reverse
charge mechanism. The person receiving such
services shall pay service tax.
9. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Contn..
7) Services of manpower supply:
Providing manpower by any agent for any business entity
where manpower work with the business entity while being
on the roll of agent company is also a service which is
covered under reverse charge mechanism. Business entity
receiving manpower is the service recipient liable to pay
tax. 75% liability of service tax lies with service recipient
while 25% lies with service provider.
8) Services of renting motor vehicle:
Hired cabs, cars and buses are included under this service.
But it doesn’t include metered cab, public transport etc.
There can be two cases in view of this service-
Service provider availing input credit- liability of service
recipient is 40% while that of service provider is 60%.
Service provider not availing input credit-100% liability lies
with service recipient.
10. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Contn..
9) Services of directors of company:
After introduction of negative listing approach, services of directors
have also been made taxable and covered under reverse charge
mechanism applicable from 07.08.2012. So, any payments
made to non executive directors such as sitting fees etc. are
taxable. 100% liability lies with service recipient.
10) Support services by authority:
Any life support services provided by government or local authority
are also taxable with effect from 01.07.2012 and the full
liability lies with service recipient.
11) Works contract:
There can be three cases of works contract- Both, service provider
and service recipient, have 50% liability each
For new construction, addition, erection or commissioning of
plant & machinery
Maintenance or repair or reconditioning services
Works contract other than above two; for completion and
11. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Service Tax Reverse Charge Mechanism
common provisions
The taxable event in case of reverse charge mechanism
shall be the completion of provision of service. This
means, the liability to pay service tax arises as soon as
the services have been provided by the service provider
under service tax reverse charge mechanism
Point of taxation shall be the date of payment to service
provider. In case the payment is not made within 6
months of the issue of invoice, date of invoice shall be
considered the point of taxation.
There is no minimum exemption limit in case or reverse
charge mechanism. So, the service tax will be levied
even if value of services provided of service provider
doesn’t exceed Rs. 100000 and thus he is exempt from
service tax.
12. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Cond..
The service recipient can claim the tax credit of
service tax paid by him on input services. For this,
he shall be required to produce tax payment
challans as proof of payment.
Service provider shall be required to pay the tax to
the government even if he doesn’t collect it from the
service recipients. So the actual burden is
irrelevant.
13. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Important Points in Reverse
Charge Mechanism
Liabilities of both the service provider and service
receiver are statutory and independent of each
other
Liability cannot be shifted by mutual agreement
Reverse charge will not apply where the service
receiver is located in non-taxable territory
Reverse charge shall not be applicable if provider
of service was liable before 1.7.2012
Service Tax will not be payable by service receiver
under reverse charge, if service was provided
prior to 1.7.2012, even if payment is made after
30.06.2012
14. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Conclusion
‘Support services’ provided by Government or Local
Authority to Business Entity will continue to be taxed
under Reverse charge mechanism except (1) renting
of immovable property, and (2) services specified in
sub-clauses (i), (ii) and (iii) of clause (a) of section 66D
of the Finance Act, 1994.
Reverse Charge provisions are equally important in
service tax regime which can’t be avoided.
15. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
#1533, Trichy Road,
Coimbatore, India – 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com