Monday, July 31, 2017

PROPERTY DEEDS & ITS LEGAL IMPLICATIONS!!!

The written and signed legal document to transfer the ownership of a real property from the seller or old owner (grantor) to the buyer or new owner (grantee) is called the property deed. For a deed to be legally effective, several necessities must exist, including the identification of the grantor and grantee, and the adequate description of the property.  

Deeds may be categorized in a number of ways, including quitclaim, warranty and special purpose deeds.


Essentials of Deed:-

  • Name of the parties involved
  • Description of the property involved
  • Signature of the person transferring the property
  • Deed must be in writing. While most deeds are completed on printed forms, there are no legal needs that any particular form be used as long as the essential elements are included.
  • The grantor must have legal capacity, and the grantee must be capable of receiving the grant of the property. A person who is proficient to make a valid contract is considered competent to be a grantor.
  • The grantor and grantee must be recognised in such a way as to be ascertainable.
  • Operative words of conveyance must be present. All standard form deeds comprise the necessary legal language that literally transfers the property.
  • The deed must be legally hand over to the grantee or to someone acting on the grantee's behalf.
  • The deed must be accepted by the grantee. Typically, deeds are accepted by the grantee but in certain situations, the grantee could refuse delivery of the deed.

Types of Deeds:-

Deeds are classified as official or private. Official deeds are executed pursuant to court or legal activities. Most of property transactions involve individuals and business entities using private deeds.

Deeds are also categorised on the basis of title warranties provided by the grantor.

  • General Warranty Deed
  • Special Warranty Deed
  • Quitclaim Deed
  • Special Purpose Deeds
General Warranty Deed:-

General warranty deed provides more protection to the grantee. With this type of deed, the grantor creates a series of legally binding promises, which is called as covenants and warrants to the grantee (and their heirs) agreeing to protect the grantee against any prior claims and demands of all persons whomsoever in regards to the conveyed land. The normal premises for title contain in a general warranty deed are the Good Right to Convey, it means that the grantor warrants that they own the property and has the legal right to bring it; the covenant against encumbrances, denoting that the grantor warrants that the property is free of liens or encumbrances, except as specifically stated in the deed. The grantee will have quiet possession of the property, and will not be disturbed because the grantor had a defective title are specified in the covenant of quiet enjoyment.

Special Warranty Deed:-

Grantor of a special warranty deed warrants that they accept the title to the property, and that they have not done anything while holding the title to create a defect. The defects that arose during the grantor's ownership of the property are warranted in special warranty deed. Due to this special warranty deed offers less protection to grantee than general warranty deed. 

Quitclaim Deed:-

It is also called non - warranty deed. Quitclaim offers the least amount of protection to the grantee. It conveys whatever interest the grantor has in the property. No warranties or promises regarding the quality of the title are made. The quitclaim deed is essentially as effective as a general warranty deed if the grantor has a good title. However, if the title contains a defect, the grantee has no legal recourse against the grantor under the deed. A quitclaim deed is used when the grantor is not sure of the status of the title that is if it contains any defects or not or if the grantor wants no liability under the title covenants. 

Special Purpose Deeds:-

Special purpose deeds are used for court proceedings and occasion where the deed is from a person acting in some type of official capacity. In this the grantee has little or no protection.

Types of special purpose includes:-

  • Administrator's Deed: Mainly used when a person dies without a will.
  • Executor's Deed: It is used when a person dies with will.
  • Sheriff's Deed: Is given to the victorious bidder at an implementation of sale held to please a judgment that has been obtained against the owner of the property. The grantee is awarded whatever title the judgment debtor has.
  • Deed of Gift: Gift deed does not involve financial terms. It used to transfer a property to other without involving a sale.

The transfer of an owner's title is possible by a deed. Certain essential elements must be included within the deed in order to make it legally operative. Different deeds give various levels of protection to thegrantee, and the obligations of a grant or are determined by the form of the deed.


Connect with Licit for knowing more about property deeds. For online legal consultation from the best lawyer regarding preparing property deeds visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk

Wednesday, July 26, 2017

AFFIDAVITS & ITS LEGAL IMPLICATIONS!!!

An affidavit is an official written statement setting out the facts of a case and it is considered as the proof of a case. It is the main method to present the facts of the case to a court. It must be promised, or declare, usually before a Justice of the Peace, Commissioner of Oaths or solicitor, as a true record. Affidavits may also be a promise   by a third person in support of a case. The court has a model form to use and there is limited opportunity to give a personal account of your evidence in court. More evidence is provided by affidavit. This allows a case to run more quickly and efficiently as all parties know what evidence is before the Court.


Why are affidavits important? :-

The facts which you depend on your case can be introduced by affidavits, i.e the evidence of the case. Oral evidence is only allowed with the Judge's authorization so you need to produce your affidavits carefully.

When do you file an affidavit? :-

With an interim application, it is needed to file an affidavit with the court or otherwise when directed by the court. The court has affidavit kits for applicants and respondents which include a blank affidavit form.

We need to file an affidavit with your application or response in the Federal Magistrates Court for both interim and final orders, and when directed by the Court. The FederalMagistrates Court has a blank affidavit form which it can be used by applicants and respondents.

We should use the form that is applicable to the Court handling your matter.

What can you say in an affidavit? :-

The statement of facts is called the affidavit. So the statement should make observations without colour or comments. Generally the affidavit should not set out the judgement of the person making the affidavit. The length of affidavits depends on the complexity of the case. The affidavit need not to be lengthy, but can’t leave out any relevant information as you may not get a chance to add it in later.

Can you prepare your own affidavit? :-

It is possible to prepare an affidavit by a person him/her self if he required. But it is not easy. The following steps should consider for preparing affidavits:-

1. Insert a case caption and title your statement.
2. Write the state and county, and identify the affiant.
3. Include relevant personal information.
4. Write a statement of truth and spell out the oath.
5. State the facts in a numbered list.
6. Create a signature block for the affiant and another for a court clerk or notary.

Take a legal expertise is the more convenient way to preparea proper affidavit.

What does an affidavit look like? :-

The affidavit should be printed or typed only one side of the paper. The content should be divided as numbered paragraph. The content is divided into different sections under the headlines is more perfect method to write an affidavit.

What should not be included in an affidavit? :-

Affidavits prepared based on facts, does not depends on the person’s belief or views. The exception is where the person is giving evidence as an expert; for example, a psychologist or licensed valuer. Where you should avoid referring to facts that are based on information received from others. There are, however, a number of exceptions to the hearsay rule.  If you need to rely on hearsay evidence in your affidavit, get legal advice to see whether it would be allowed in court. You should not refer to anything said or documents produced in connection with an attempt to negotiate a settlement of your dispute, as these are not admissible as evidence in Court.

How can attach documents to an affidavit? :-

Regularly an affidavit refers to other documents and it is helpful to attach a document to the affidavit. The document is then known as an Annexure. Give number to each page of the document and if more than one document is attached refer to each by numbers. Each Annexure must have a statement signed by the authorised person recognize the Annexure as the document referred to in the affidavit.

The person who is preparing the affidavit needs to sign the bottom of each page of the affidavit in the presence of an authorised person such as a lawyer or Justice of the Peace.

On the last page of the affidavit the following details must be set out:-

  • The full name of the person making the affidavit, and their signature
  • The day and place the person signs the affidavit
  • The full name and occupation of the authorised person, and their signature.


Connect with Licit for knowing more about affidavits. For online legal consultation from the best lawyer regarding preparing an affidavit, visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk

Tuesday, July 4, 2017

GST and Lawyers!!!

What is GST?

First, we need to know what is GST. GST is an indirect tax reform. GST try to remove tax barriers between states and makes into a single market. The motive of the bill is to bring one single tax on supply of goods and services, from the manufacturing stage until its delivery to the final consumer. The final consumer of the goods and/or services will only have to carry the GST charged by the final dealer in the supply chain, and avail set-off benefits at all the preceding stages. This means interim tax stages such as excise duties and service tax and state levies like VAT will be absorbed under the GST.


How GST Affecting Lawyers?

Exempt Services:-

A person, including a business entity with a turnover up to twenty lakes in preceding financial year by an individual advocates or firm who provide services or agreed to provide services will continue to be service tax free under the new goods and service tax regime. Both direct and indirect legal services are not taxable.

Senior Advocate providing service to Person and business entities with turnover less than twenty lakes is exempted from service tax. But the service provided by a senior advocate to an Advocate firm or Advocates is not exempted.

The services provided by an arbitral tribunal to any business entity whose turnover is less than twenty leaks are also not taxable.  

Taxable Services:-
            
The individual advocates who provide services to a business entity with a turnover more than 20 Lakh in preceding a fiscal year or legal services provided by a partnership firm of advocates are applicable for tax.  
  
The senior advocate who is providing legal services to a Business entity with a turnover more than twenty lakh rupees in preceding fiscal year. Tax is applicable to Senior advocates who provide legal service to another advocate or partnership firm of advocates providing legal services.

Registration Criteria:-

If an advocate has an aggregate turnover in a financial year exceeds twenty lakh rupees, then as per section 22 he shall be liable to be registered under the 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. Exempt Supplies is also included in the word aggregate. On becoming registered person, by virtue of section 9(4) they will be required to pay tax under RCM ongoods or services procured from unregistered persons.


If you required more assistance on GST connect with Licit. For online legal consultants from the best lawyer visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk

Friday, June 30, 2017

Security of Indian Women Deserted Abroad!!!

The Indian ministry of external affairs receives a lot of complaints from Indian women deserted or subjected to distress by their husbands abroad. But the inefficiency of Redressal system and loyalty to social norms are reasons for every complaint are not coming in to light. The majority of women & their Children keep silence towards their struggles.


An Indian citizen who lives in abroad can file consular grievances through an e portal MADAD (Help) to address such complaints immediately with a high degree of responsibility.

Sushama swaraj launched the portal at the MEA headquarters and said that the portal seeks to significantly reform the linear process adopted to post grievances from the originator of the grievance to the concerned Embassy or Consulate of India abroad and cut down the time required for grievances to be sent from Delhi to the Missions abroad and to get them to take necessary actions. The importance of MADAD is fast forwarding of complaints, improve tracking and handling redressal and escalate unresolved cases.

After registering the complaints in the portal, his/her complaint should be kept online. The responsibility of griminess is providing to particular authorities through a color coded dashboard that would change colour if the response is not given in a stipulated time. 

There is a plan for linking the call centre to the ministry of Overseas Indian Affairs and currently working on a mobile application to let people use the system on the go. 

MEA’s grievance redressal portal receives more than 300 complaints relating to marital distress and desertion from Indian women in abroad within 7 months. That is an average of 1.7 complaints per day.

What should check before marrying an NRI? :-

  • Check boy’s marital and employment status, employer’s address, type of visa and eligibility to take spouse along. 
  • Find out his financial status, properties owned in India, home address and family background.
  • Have regular interactions with him and his family before getting married.
  • Maintain proof of marriage and a bank account exclusively in your name.
  • Know laws of foreign country and your rights there.
  • Don’t take a hasty decision on marriage or be lured by boy’s green card.
  • Avoid negotiating your daughter’s marriage through a bureau, agent or middle man.
  • Never agree to the wedding taking place outside India.
  • Turn down demands for dowry or other unreasonable demands.

Types of complaints from Indian girl who married to a NRI:-

  • Desertion by NRI husbands
  • Loss of communication with spouse after he goes abroad
  • Harassment and ill treatment
  • Request for assistance in serving judicial summons for court cases in India.
  • Assistance in obtaining maintenance and child support and child custody issues.
  • Request for revoking and impounding passport of the spouse.
The problem is mainly related to Indian women who get confined in misleading matrimony with overseas Indians. They also disregard the things going wrong in an NRI marriage. The woman’s possibility for justice is greatly constrained and complex. In a fake NRI marriage the women are being outlaying far away from home and facing lack of proper information about the localcriminal justice, language constrains, communication problems, and lack of knowledge about police and legal system. The problem is huge and it includes the issues like dowry and various other types of persecution of married women in foreign countries, marriages of convenience, concealment of earlier existing marriage by the husband before marrying an Indian woman.
                           
How to complain against such issues:-

  • All Indian embassies will receive complaints
  • Local authorities in respective countries can be approached
  • The portal for external affairs ministry’s MADAD is http://www.madad.gov.in/
  • NCW’s NRI cell http://ncw.nic.in/frmNRIcell.aspx  is take complaints. 

Connect with Licit for knowing more about NRI marriage rules and supporting laws. For online legal consultation from the best lawyer, visit the biggest online legal solution www.licit.ooo or can download the app  https://goo.gl/L8GeYk

Friday, June 23, 2017

Motor Vehicle Act in India & The must know rights of citizens

India is a country with the second largest road networks and accounts for 10% of worldwide road fatalities. Traffic regulation laws are provided under the Motor Vehicles Act, 1988. This act passed by the Parliament of India which came into force from July 1, 1989. This act is applicable to whole of India.

Road safety belongs to the state. The regulation of the Motor Vehicles Act, 1988 is under the transport Department and the transport department is one of the largest revenue earning departments. The previously mentioned Act provides in detail the legislative provisions regarding the licensing of drivers/conductors, control of motor vehicles through permits, registration of motor vehicles, traffic regulation, insurance, liability, offences and penalties, special provisions relating to state transport undertakings, etc. The Government of India made the Central Motor Vehicles Rules 1989 for exercising the legislative provisions of the Act. In addition, there are Rules of Road Regulations, 1989. The aforesaid Transport Department works with two of the concerned authorities, under Section 68 of the Motor Vehicles Act, 1988.

Law relating to Registration of Vehicle:-

  • Mandatory Registration: Under the motor vehicle act 1988, section 39, it forbids driving of any motor vehicle or any vehicle, which is not registered or no owner of the vehicle should permit driving of an unregistered vehicle in a public place which is not registered under the provision of the MV Act.
  • Jurisdiction for Application: Registration of the vehicle is done by the concerned authority on the basis of place with which the vehicle normally kept.
  • Application for Jointly owned Vehicle: Registration of vehicle can be applied by one of the owners. If the vehicle kept in one state and it kept in another state for more than 12 months, then the owner of such vehicle has to proceed towards the registration authority for assignment of a new registration mark within whose jurisdiction the vehicle is.
  • Change of Address: In the case of a change of address, the owner of the vehicle is needed to advance towards the authority within 30 days in whose jurisdiction he has shifted for recording the change of address.

Law relating to Driving License:-

·         Effective Driving License: According to Section 3 of the Central Motor Vehicle Act, 1988, nobody can drive at any public place until he holds an effective driving license issued to him authorizing him to drive the vehicle.
·         Age Limit for obtaining the driving license: 18 is the age limit for getting a driving licence. A person under age of 18 years is not supposed to get his driving licence. But a motor vehicle of engine capacity not exceeding 50cc can be driven under the age of 16 years. A person under age of 20 years shall not drive a transport vehicle.  
·         Learner’s License: The Learner’s license means a license provide by a competent authority to drive as a learner or a motor vehicle stated under a special class or description. The validity period of the learner’s license is 6 months. Learner’s license for heavy vehicle cannot be given unless he drives a light motor vehicle for past one year.
·         Power to Revoke License: In the case of a medically unfit person, licensing authority has power to revoke the license. The licensing authorities automatically do the suspension of the license of a person who has caused death or grievous hurt of one or more persons. The person should not suffer from any disability. The Registering authority has power to cancel the registration of the vehicle that is lost, destroyed or has been permanently rendered incapable for use. If the engine number or chassis number differs from RC, then also registering authority can cancel the registration.
·         Conditions under which Licensing Authority can revoke a License :
o   A person under the age of 18 years who has been granted the learner’s license is at present not under the care of such guardian.
o   Any fraud or misrepresentation in obtaining the DL
o   Driving to cause danger to public on the basis of previous conduct
o   Drunkard
o   Addicted to Narcotic Drugs and Psychotropic substances
o   Has used or is using a motor vehicle in the commissioning of offence

  • Duty to Produce License and Certificate of Registration: The driver of any motor vehicle has a duty to produce licence and certificate of registration for examination by authorities in uniform. The person also has the duty to stop the vehicle if it involved in any accident.

Other rules all should be aware about:-

  • Keep left on two-lane road.
  • Slow down at pedestrian crossings.
  • Wear helmet foe two wheeler drivers.
  • Do not park at or near to any road crossing and parking prohibited areas.
  • The registration mark on the vehicle should be visible, legible and clear all the times.   
  • Do not cross the yellow line even while you are overtaking that divide the road.
  • Do not cross the stop line.
  • Use the horn when it is necessary and does not use at any silence zone area.
  •  Divers of tractors and any goods vehicle are not allowed to carry passengers.

What all documents need to carry on vehicle while driving:-

·         Driving licence
·         Certificate of registration
·         Certificate of insurance
·         Emission test certificate
·         In case of transport vehicle: certificates of fitness and all necessary permits


Does the traffic police in India have right to take vehicle keys?

            No, it doesn’t mentioned anywhere in law that the police can pull the key of vehicles.
·         The vehicle shall be stopped cleaning only on the basis of a visible traffic offence.
·         The officer shall walk near to the vehicle and explain the reason for his vehicle has been stopped.
·         The officer can make demand for producing driving licence and other documents in a polite manner. It is the duty of the driver to keep driving licence and other documents with him while driving and produce to officer in uniform when ask for to do so. In case of failure to produce the driving licence, insurance, the registration certificate etc. the driver shall be challenged under the assumption that the said document does not exist.
·         If the driver tries to influence or frighten the officer in any manner for avoiding challenging, he can • record the same on the reverse of the original Challan form and inform the Control Room where an entry shall be made in the log book.
·         If the driver uses abusive language and uses or threatens to use physical violence, the officer can take legal action against him.

But in conclusion, if you are trying to run away, then the officer can pull out your vehicle key as primary action.

There’s a lot of misunderstandings regarding the power of traffic police. If you are a driver of two wheeler or four wheeler vehicle, you can be stopped by traffic police while you might not know what to do about it.

Connect with Licit to know more about traffic rules and your rights. For online legal consultation from the best lawyers regarding your traffic rights visit the biggest online legal solution www.licit.ooo or can download the app  https://goo.gl/L8GeYk

  

Friday, June 9, 2017

Bit Coin in India; Legal or Illegal !!!

Bitcoin is in the news for a lot of reasons these days. A form of digital currency, created and supported electronically is named as BitCoin. Bitcoins are not a printed form of currency; they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. Bitcoin is a cryptocurrency system invented by an unknown programmer or a group of programmer’s. It was released by an unknown programmer under the name of Satoshi Nakamoto as open source software.

This system is peer to peer and transactions take place with users directly, without any intermediary. These transactions are confirmed by network nodes and recorded in a public distributed ledger called a block chain. The system works without a central repository or single administrator. Because of this, bitcoin is called as the first decentralized digital currency.

As of February 2015, over 100,000 merchants and vendors agree to receive bitcoin as payment. According to a research created by Cambridge University in 2017, there are 2.9 to 5.8 million individual users using a cryptocurrency wallet, most of them using bitcoin.

Bitcoin is acquiring 300 percent increase in its value within one year. It could be the kind of investment you may be looking for. However, in animosity of all the curiosity, many of us have wondered if it is safe to accept, store and sell bitcoins in India.

Bitcoins can’t be minted like paper currencies.  They can only be mined. There are 21 million bitcoins been created and only 16.8 million or 80 percent of all bitcoins have been mined.


How to buy Bitcoins:-

You can use various digital currency exchanges to buy bitcoin. Credit card can be used for purchase of bitcoins. In India, you can purchase Bitcoin from Zebpay exchange. Zebpay has Android and iPhone app which lets you link your bank account for quick transfers.

Buying Bitcoins can be made by making a payment to Zebpay's bank account. And can also withdraw the money to your bank account, and can track the data on Bitcoin valuation in the country.

Legality of Bitcoins in India:-

Bitcoin accepting, selling, trading or mining is not illegal by any existing law in India, however, it is not yet officially recognized in India. The Reserve bank of India or the RBI, had earlier cautioned users, holders and traders of Virtualcurrencies (VCs), including Bitcoins.

The central bank had declared that the trading or usages of virtual currency, including bitcoins are not approved by any central bank or monetary authority. It can’t be used as medium for payment.

RBI Deputy Governor R Gandhi warned against crypto-currencies such as Bitcoin. He informed as the Bitcoins possess potential financial, legal, customer protection and security-related risks. Payments by Bitcoins are on peer –to- peer basis and there is no established framework for recourse to customer problems, disputes, etc. There is no legal status for Bitcoins.

At the same time Bitcoins are not banned in the country by the central bank.  But not authorised by the central bank of India.


For online legal consultancies from the best lawyer to know more about Bitcoins and its legality visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk  

Wednesday, May 31, 2017

Notary Service in India !!!

Notary or Notary Public is a person assigned by the Central Government or State Government under the Notaries Act, 1952. Notary or Notary Public is authorised to carry out certain legal formalities or activities. This would include drafting and validating contracts, deeds and other such legal documents. The foremost role of a Notary Public is to act as an unbiased witness while discharging fraud deterrent activities related to legaldocuments. This particular act is usually referred to as notarization.

                                   

Functions of Notary Public in India:-

Duties of a Notary public are commanded by the Notaries Act,1952, and they are:-

Certify, attest or authenticate any instrument
  • Instrument certification, attesting or authenticating instrument.
  • Translate the legal documents from one language to another and verify such documents
  • To perform the function of an arbitrator, counsellor or mediator
  • To record proof/evidence in criminal or civil trials and to act as commissioner if so directed

Significance Of Notarization:-

Rule 12 of the Notary Rules, 1956 advice that every notary shall use a plain circular seal of a diameter of 5 c.m. contains his name, the registration number, expiry date and the circumscription ‘NOTARY’, the jurisdictional area in which he has been appointed to exercise his functions, and also the name of the Government which appointed him.

The Notarial seal implies the seal of verification. It means that the facts mentioned and the signatures on the document are indeed authentic. It validates the fact that the identities of the people signing the document have been verified. It helps prevent fake documents.

If a Notary seal present in a document for any legal proceeding, it will act as confirmation for the courts that the signatures were placed by a genuine person and not forged or fabricated. It also proves that the individual was not forced into signing it. As one of the many functions of a Notary Public is to witness the notarization renders a document authentic, the document being signed, true and voluntarily drafted in many senses.

Consequences Of Not Notarizing A Document:-

No need to notarise all legal documents, but some documents should be notarised and it is mandatory. For those documents the lack of motorization can lead to the document being declared legally unenforceable or invalid. The consequences relating to notarisation vary from state to state in India. But if you do not notarize a document, its legally validity and authenticity will be doubtful.

Verify Notary public:-

Even if the Job of Notary Public is to verify the person who is getting the document notarized, there have been occasions where fake Notary Public was found to be using a fake notary seal. It has become necessary to confirm the Notary Public it. You should ensure that seal with the registration number of Notary Person is present on all documents.


 Get A Document Notarised through Licit:-  

 E-Stamp Paper (Service Charges: Stamp Duty Amt. Rs. 1 TO 100 = Rs. 10/-, Rs. 101            TO 5000 = Rs. 20/-, Above Rs. 5000 = NIL) 
Get E-stamp paper (Stamp Duty Cost + Rs 75 delivery charges) Minimum Rs.20, Enter    First Party Name, Enter Second Party Name, Enter E-Stamp Description (Affidavit / Agreement / MoU / Contract)


All your legal documentation requirements can be met with Licit. For online legal consultancies from the best lawyer and for notarising visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk
  

Monday, May 22, 2017

Company Registration in India!!!

A company is any body that engages in business. A company can be arranged in many ways, such as a partnership, sole proprietorship or a corporation. It depends on which type of company you are dealing with, that may be owned by one person or group of people.  

A registered / incorporated company in India is a company which is formed and registered under the Companies Act, 1956, including companies which are earlier registered under any of the previous company is called as the registered / incorporated company. Registrar of companies provides an identifying number and which is printed on the certificate of incorporation(ROC). This company indentification  number is unique in nature.



Advantages of registering a company in India

Establishing Business Bank Accounts:- 

To start a business bank account, you need to properly register your business with the state. And it is very important for separating your personal activity with business activity. It is more professional to give a business account details to your client than giving personal account details.

Getting Loans:- 

When you are applying for a small business loan you need to prove that you are actually a business. The lenders and investors are asking for business registration along with other documents. If you are applying for a credit card as business, creditors may also ask for business registration documents.    

Reputation with Customers:- 

Registering your business has helped to get a reputation for your company in front of your clients and especially other people whom you are not working with.   

Supplier Arrangements:- 

A registered business also helps you to receive supplier discounts that you wouldn't normally receive as an unregistered operation. 

Hiring Employees:- 

A registered company can hire full time employees and pay them according to state law. You will receive a state identification number after registering your business with state that allows you to route state taxes on the employee's behalf.  


Getting on Record:- 

Another major benefit with registering your business is safeguarding your business name. No one else can register the business with the same name Ministry of corporate Affairs ( MCA ) has ensured, every business can search the name of their business and if they find similar name, then we can choose a different name. 

Legal Liability Protection:- 

Another benefit is getting legal liability protection. If you are incorporating it is very easy to get business insurance, or attract investors, since they will know you are not personally responsible for the company’s well-being and you will not be personally responsible for certain accidents and other liabilities. 

Continuity:-

Continuity is another benefit that is registration provides a business continues even if you die or become ill. Registered company is an entity with its own rights thus another can provide ownership or control or your business can be sold.

Types of Company Registrations:-

Private limited Company 
LLP Company
One person company 
Partnership Firm
Sole proprietorship 

Private limited registration:- 

Prerequisites 

1. Have paid-up capital of INR 1,00,000
2. Need minimum of 2 directors/board members and two shareholders
3. Maximum of 50 members allowed in Pvt. Ltd
4. Cannot publicly sell shares. A Pvt. Ltd company can only invite people to buy shares by issuing a prospectus 

Step 1: - Acquire Director Identification Number. It is a unique identification number for an existing directory. According to recent amendments to the Companies Act 1956 the DIN is mandatory. Need 3 to 5 working days for this process.
Supporting documents required (soft-copies):

1. Proof of identity
2. Proof of residence
3. Photograph
4. PAN Card

Register on MCA website for login ID and password (create an account)

I. File E-Form DIN-1
1. Download E-Form DIN-1
2. Fill the form
3. Attach necessary documents
4. Sign using digital signature
5. “Check Form”
6. Upload E-Form
7. Pay fees
8. Note Service Request Number.
9. Check acknowledgement
10 Intimate approved DIN to your company
11. Download DIN- 2 Form 


Step 3- This is the final and major step that is applying for a company to be registered which contain incorporating company name, Registering the office address or notice of situation of office and notice for appointment of company directors, manager and secretary. And also about the take and pay for their qualification shares.

LLP Registration:-  

A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities and it depends on the jurisdiction. Therefore, it shows elements of partnerships and corporations. In lap one partner is not liable for other partner’s misconduct.  

Prerequisites

Minimum of two partners and two designated partners with DPIN (Designated Partner Identification Number) just like DIN are required. 
No limit for maximum number of partners. 
It is not compulsory to make partnership deed or LLP agreement, but it may help in any dispute occurred.

Step1- Apply for DPIN for designated partners. 
Step2- Obtain digital signature 
Step 3- Apply for LLP name. First apply for company name in form 1A. 
Step 4 – Register LLP
Step 5 – Apply for PAN and TAN

One person company registration: -

One person company is a new concept introduced by The Companies Act, 2013 [No.18 of 2013]

Pre-requisites:- 

Only one share holder
The share holder can nominate any other person who can be share holder in case of death or incapacity of original share holder
Must have minimum of one director and maximum of 15 directors

Step 1- Obtain digital signature
Step2- Get DIN 
Step 3- Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name.
Step5- Payment of Requisite fee to the Ministry of Corporate Affairs and also Stamp Duty. 
Step6- Scrutiny of documents at Registrar of Companies [ROC].
Step7- Get certificate from ROC 

Partnership Firm registration: - 

Pre-requisites: - 

Two persons are required as partners. 
Partners share their duties and responsibilities
More capital can brought into the business 

Step 1- Select suitable Company Name
Step 2- Create Partnership Agreement or Deed
Step3- Apply for PAN Card on the name of Partnership Firm.
Step4- Opening of Current Bank Account on the basis of PAN Card and Registered Partnership Deed. 

Sole proprietorship registration: - 

Pre-requisites: -  
  
Single owner for the business. 
Easy to start and easy to close 
Complete control resides on single owner 

Step1- Draft documents required for sole Proprietorship Registration.
Step2- Apply for the Service Tax or VAT.
Step3- Get Service tax or a VAT Registration Certificate.
Step4- Apply for a current bank account in any bank with complete documentation.

Registered company will be treated as a legal entity. It has a separate identity and existence of its own. In the case of unregistered company, the shareholders are liable for the transactions they do in the company's name. They are not separated from the company. In fact an unregistered company is non-existent, insignificant in the eyes of law.

For online legal consultancies from the best corporate lawyer to get clarity on registering your company visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk  

Tuesday, May 16, 2017

Silicon India 2017 list ranked Licit among “10 best Startups in Legal and Advisory”

We are proud to announce that SiliconIndia Magazine has ranked Licit among India’s 10 best Startups in Legal and Advisory of 2017 in a list announced this week.


The list of Best Startups in Legal and Advisory is made by a distinct panel of judges including CEOs, CIOs, CXOs, analysts and startup editorial board.

“Our inclusion on this list is a wonderful recognition of team Licit which over the years has set a strong foothold as a full fledged online legal platform that has got 500+ clients and 94 percent success rate”.

 “Licit has assured to deliver solutions that will help businesses to be updated and secured in the legal field. Licit aims to make the right blend of law with technology for establishing a system profound with innovative process, ensuring proper justice and verification. With the motive of helping business in understanding their risks they also focus on their growth by creating and handling their contracts, policies, and documents on basis of proper research along with an array of services,” Says Startupeditorial board.

SiliconIndia is the largest community of Indian professionals featuring technology, Business, entrepreneur news.



We truly appreciate all the initiatives that the Silicon India will be taking to support startups. Connect with the expert Legal consultants of Licit. For online legal consultation from the best lawyer visit www.licit.ooo or download the Licit app https://goo.gl/L8GeYk

Thursday, May 11, 2017

Linking Aadhar card with PAN card is mandatory!!!

As the government decided to go ahead with linking Aadhar cardwith a permanent account number (PAN) the public has been confused about lot of rumours surrounding. A biometric identification system is an essential feature of the current society, and the scheme of PAN had become conjecture as it could be falsified, while Aadhar is a secure and vigorous system by which the identity of an individual cannot be faked.

A unique 10 character code is assigned to all tax paying entities in India referred as PAN Card. A PAN card is issued by the Income Tax Department and the card links all transactions that attract tax under a single source, making it appropriate for the government to keep track of all transactions. A PAN card is obligatory for filing Income Tax returns in the country, and all individuals and entities that pay taxes, including foreigners are expected to have one. Apart from its primary use, a PAN card can be used as proof of identity and age.

The Aadhar card is a unique identification card. It is assigned to every Indian citizen and it furnished by the Unique IdentificationAuthority of India. It’s a 12 digit number that will be used as a proof of identity and proof of address. Aadhar is an enterprise by the government to have a single identification document for the whole citizen in the country. The card holds individual’s biometric and demographic information so it serves as a personal identification card.

                          


To link the Pan Card with the Aadhar Card, the taxpayers have to first register on the Income tax e-Filing portal for linking the Aadhar card and PAN card. After registering, follow the below steps:-

  •  Using log-in ID, password and date of birth user can login to the E-Filing portal of the Income Tax Department.
  • After logging into the site a window will appear encouraging you to link your PAN card with Aadhar card.
  • Details such as name, gender and date of birth will already be disclosed as per the details submitted at the time of registration to the E-Filing portal.
  •  Verify the details mentioned with the Aadhar card.
  • After verifying details with other card you can enter the Aadhar number and click on the “link now” button
  • A pop up message will appear regarding your successful linking of PAN and Aadhar card.

Importance of Linking PAN Card with Aadhar Card:-

Aadhar card and PAN card are unique identification cards and both are required as proof of identity that are necessary for registration and verification purposes.
The government has advised all citizens to link their PAN cards with their other cards.

This is being done for the following purposes:-

Prevent Tax Evasion:-

The government can keep track of the taxable transactions of a particular individual whose address and identity will be proved by his Aadhar card by linking the Aadhar and PAN cards. This will efficiently mean that the whole taxable transaction or activity will be recorded by the government. As a result of this, the government has a complete record of all financial transactions forming tax evasion a thing of the past.

Multiple PAN Cards:-

Linking PAN and Aadhar card reduces applying for multiple PAN cards by an individual in an effort to defraud the government and avoid paying taxes. By this method one’s PAN card can be used for some type of financial transaction and pay taxes applicable for those. Another one used certain other accounts and transactions that the person wishes to conceal from the Income Taxdepartment, thereby avoiding paying tax on them.

The government will be able to link the identity of a person through his/her Aadhar card, by linking the PAN and Aadhar card and later have details of all financial transactions made through the linked PAN card. The government will be able to find if multiple PAN cards linked with a same name and can take corrective action.  

Ease in Filing of Income Tax Returns:-

Every person can file their E-Returns or their online Income Tax returns perfectly and quickly after linking PAN and Aadhar card. After linking the PAN and Aadhar, entities will no longer have to submit their Income Tax acknowledgement to the IT department, thus saving taxpayers a lot of trouble.

The government has made it obligatory to link the PAN to the Aadhar before 1st of July 2017. Linking of PAN to Aadhar is required for e-filing the Income Tax Return (ITR).

To get more clarifications on the matter or for any legal assistance, connect with the expert consultants of Licit. For online legal consultation from the best lawyer visit the biggest online legal solution www.licit.ooo or download the app https://goo.gl/L8GeYk



Friday, May 5, 2017

Your Lawyer is fleecing you? Wait no more! You have got options in this Digital world.


In a country where thousands of people are fighting with the legal system, we need Lawyers who can understand the common man’s problem and stand as a bridge between them and the legal system. Lawyers must be the representative of the society and they must maintain their responsibilities in every possible way. The public responsibilities of advocates in developing countries are much more than developed countries. A developing economy requires good lawyers in every segment for its successful takeoff too.

Bar Council of India claimed that almost one third of the total lawyers in India are not genuine. The number of practicing lawyers is about to come down to 55-60% after the completion of the BCI verification process. Choosing the wrong attorney can end up costing you a lot of time and money.

Genuine Lawyers can offer legal remedies at the right time and point you in the right direction. To help the users to find right lawyers and to stop fleecing ordinary man, online lawyers portals will be the right solution on this digital world and the Indian market oversee a drastic growth for Online legal services in 2017.

The past year has been a battleground for online legal services. Finding a lawyer online was way easier than searching for the Lawyer manually. Many online platforms, including LICIT – Go Legal app or www.licit.ooo website, offer an easier and trusted way to connect with local lawyers based on your location and the type of legal cases you have. Also there are options to Chat and Video conferencing with the Lawyer in a single clickaway. This really helps the common man to save his time and money.

“Our vision is to use technology to reach out to everyone who are living in rural to urban areas, startups to big corporates and provide the best possible legal solution in a more cost-effective and affordable manner” says Santhosh Shamanna, founder of one of the biggest online legal solution providers in India, licit.ooo.

Licit- Go Legal helps you to find verified list of lawyers in India who are specialized in various legal areas & offers almost every services that is usually required in day to day life. Licit’s virtual office technologies have done the hard part for you by carefully selecting Lawyers across the country to be a part of their network. Lawyers can take advantage of this online exposure with LICIT services that double their conversions, and proven lead targeting tools.

Licit- Go Legal is the most commonly used site to search lawyers and is very simple and easy to use. Over 58 percent of clients find it way better than other online portals and commented that it is the first time they got complete satisfaction on their legal problems. 90% of users said Thumbs up to Licit’s structure and they said they will keep coming for any other legal help.

So what are you waiting for ! For any online legal consultation from the top notch lawyers in India, visit the biggest online legal solution www.licit.ooo or Download the app https://goo.gl/L8GeYk today itself.

Thursday, April 27, 2017

Confused about rights of your intellectual property??

Intellectual Property Rights:-

Intellectual property rights are the legal rights provided to a person for his creation of the intellect. A monopoly will be assigned to the owner for his or her creation legally. Legal rights are allowed to a person for any invention or discovery, any creative or artistic works, phrases and symbols, literary work or words, designs for a specified period of time etc. By this law, owners have the privilege to use their property without any disturbance and can prevent the misuse of their property. In India, Intellectual Property is ruled under the Copyright Act, 1957; Patents Act,1970; Trade Marks Act, 1999; Designs Act, 2001, etc.

Intellectual property rights include Trademarks, Trade Secrets, Copyrights, Patents, Industrial Designs, Layout Designs of Integrated Circuits and Geographical Indications. The inventor of any invention, or a literary or a mark or creative work consumes money and time for creating the Intellectual Property. So they should also be allowed for certain rights like claiming remedies for the infringement, exclusive use of their invention or etc.



Patent:-

If a person made a new invention in any field, it is important to protect the invention from getting exploited by anybody other than that inventor. It is possible by obtaining a patent for that invention to the inventor. Patent allows exclusive right to the patent holder so that the inventor can utilize his invention and can move legally against anyone who uses his invention without permission.

A patent allows the right to stop others from selling, manufacturing, copying and importing the invention without the patent holder’s permission. The patent also grants licensing the invention to someone else but retaining all the Intellectual Property Rights, selling the invention and all the Intellectual Property (IP) rights, discussing the invention with others in order to set up a business with reference to that invention.

Trademarks:-

Legally registered or established sign will enable to distinguish the goods and services of the trademark holder from competitors. It can be logos, words or a combination of both. A trademark may be registered or unregistered. Registering a trademark provides exclusive legal rights to trademark holders to use the mark to his goods and services. Symbol ® can be used as registered trademark and no other parties can use this symbol other than the trademark holder.

If people use registered trademark without permission of holders, it is an offence and allows the police to take criminal charges against counterfeiters. The registered trademark is the property of trademark holders and they can sell it, or let other people have a license that allows them to use it.

Unregistered trademark holders can also protect their rights by the common law action of passing. But they must be able to prove that the trademark belongs to him.

Copy right:-

Copyright is a legal right that allows the creator of original work for exclusive rights for its use and distribution for a limited period of time. The exclusive rights are not complete, but limited by limitations and exceptions to copyright law, including fair use. Copyright protects the original expression of idea not underlying ideas themselves. Copyright is applicable to certain creative works. If the owner is getting work done or developed through third parties, the owner will get copyright over such work only if the owner has a contract or agreement clearly assigning such rights in the owner’s favor.

Trade Secrets:-

Trade secrets are extremely valuable for the company’s growth and survival. A business must ensure that they adequately protect their business process and know how to keep confidential information from competitors. A trade secret is any confidential business information which provides a competitive edge in business. The unapproved use of such information by persons other than the holder is regarded as an unfair practice and a violation of the trade secret.

Intellectual property Infringement:-

Intellectual property infringement is a breach of intellectual property rights i.e, infringed when a work which is protected by intellectual property right copied or exploited without having proper permission from the person who owns the right.

Patent Infringement:-

A patented product can be used after seeking permission from the owner. The permission will be granted in the form of license. Patent infringement is the act of consuming a patented invention without consent of the patent holder. Persons involved in making, using, selling, distributing, importing or offering any of the above may be held liable for infringement.

Patent Infringement Remedies:-

A court can order the infringer to stop making use of the patented invention by issuing an injunction. A suit for infringement of a patent has to be filled in district court or high court. Only the High Court has the jurisdiction to entertain the matter when a counterclaim for revocation has been filed against the same. But when the patent expires, any party is free to make use of the product.

Trading Infringement:-

Trademark infringement is the unapproved use of the trademark or service mark by a person other than the trademark owner and it's used on competitive product or services.     

Trademark Infringement Remedies:-

There are two types of remedies are available for unauthorized use of trademarks. These remedies are an action for passing off in the case of an unregistered trademark and an action for infringement in case of a registered trademark. Both are quite different from each other. An infringement action is a statutory remedy and an action for passing off is a common law remedy. The proprietors of the trademark and licensed users can initiate criminal prosecution against the infringers. Criminal remedies available for the offence and suit for the offence can be filed before the magistrate within whose territorial jurisdiction the offence is committed or the Police can register an FIR and prosecute directly. In addition requisition of goods and machinery, the Code of Criminal Procedure, 1973, also provides for the imprisonment starting from six months, which can be extended to three years or a fine of Rs. Fifty thousand to two lakhs or both.

Copyright Infringement:-

Copyright infringement is the use of work protected by copyright law without the permission. It violates one of the copyright owner’s exclusive rights, such as the right to reproduce or perform the copyrighted work or to make derivative works.

Copyright Infringement Remedies:-

A suit for copyright infringement can fill in a District Court or a High Court. The suit has to be filled within whose territorial jurisdiction the cause of action has arisen. Copyright infringement is a non bailable offence and it is punishable with an imprisonment of six months, which can be extended to three years or a fine not less than fifty thousand which can be extended to two lakes.  Civil remedies imply that the injunctions against future violations, civil raids & seizures, delivery up/ discovery of infringing material / documents, damages or accounts of profits. Administrative Remedies available to the copyright, trademark and patent which include bans on the import or export of goods including protection of patents, delivery to the owner and Restrictions against parallel importation of goods and trademarks and copyrights confiscation of infringing material by Excise Authorities.


For online legal consultation regarding Intellectual property issues or to know more about the intellectual property rights and infringement remedies, visit the biggest online legal solution www.licit.ooo or download the app from playstore https://goo.gl/L8GeYk