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09/04/2021

03/03/2020

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21/03/2019

02/05/2017

Real Estate Act comes into effect: 10 things you need to know about new law, .com

The Real Estate (Regulation & Development) Act, 2016, the landmark realty law to protect home buyers from unscrupulous developers, will become operational from Today, nine years after it was conceived.

Here’s all you need to know about the new realty law:
• It makes it mandatory for all builders - developing a project where the land exceeds 500 square metre - to register with RERA before launching or even advertising their project. Developers have been given time until July 31 to register.
• Not doing so will invite up to a maximum imprisonment of 3 years or fine of up to 10% of the total project cost.
• Developers will have to submit as well as upload project details, including approved layout plan, timeline, cost, and the sale agreement, that prospective buyers will have to sign to the proposed regulator.
•Only developers who fulfill this disclosure clause would be permitted to advertise their project to prospective buyers.
•Real Estate Appellate Tribunals to be set up in every state.
•As of now, the real estate sector was largely unregulated in India. If a consumer had a complaint against a developer they had to make rounds of consumer or civil courts. Now, in case of any grievance, the consumer can go to the real estate regulator for redressal.
• Developers will have to put 50% of the money collected from a buyer in a separate account to meet the construction cost of the project.
• The law is likely to stabilise housing prices. It will lead to enhanced activity in the sector, leading to more housing units supplied to the market.
• It will w**d out fly-by-night operators from the sector and channelise investment into it.
• Builders will also benefit as the law has penal provisions for allottees who do not pay dues on time. The builder can also approach the regulator in case there is any issue with the buyer.

This material is intended for general information purposes only and does not constitute legal advice. If you have any specific questions on any legal matter, you should consult us.
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15/03/2017

26/02/2017

Registrable and Non-registrable Trade Marks in India .com Consultant

Trade mark is a mark used or proposed to be used for or in connection with goods or services to discriminate such goods or services from other goods or services. A Mark can any brand, heading, text, word, sign letter, numeral, slogan, shape, base line, color or combination of any of these.

Following marks can be registered under the Indian Trade mark law:-

NamesInvented / Coined Words NumeralsLettersDevicesSlogansSignature3D MarkCombination of colorsShape of goodsSoundSmell Marks

To register the mark as a Trade mark, the mark must meet the following requirements:

It must be distinctive and not descriptive in respect of its goods and services.It must not be indistinguishable or similar to a mark previously registered or any pending prior application for registrationIt must not be prohibited by the Trade Marks Act

What marks are not registrable as a trade mark in India?

The Trade marks which are not registrable in India are those which lack distinctiveness, and which are likely to cause deception or confusion in the mind of the public/ consumer

Besides the above, other marks which are not registrable as trade marks in India are as follow:

Trade marks that are likely to hurt religious sentiments of any community;

Trade marks that comprises any scandalous or obscene matter;

Trade marks the use of which is prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950, e.g. the Red Cross, the National Emblem etc.

This material is intended for general information purposes only and does not constitute legal advice. If you have any specific questions on any legal matter, you should consult a us.
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26/02/2017

.com Cosultant

03/02/2017

Budget 2017¬-18: Cash is not the King now. # Budget 2017¬-18 # eFilingGuru.com # Business Consultant in Mumbai

The government has dedicated one specific portion in the budget to usher in new era of economy with less cash (not cashless). The budget included many provisions which touched upon cash transaction in one or the other way. The days does not seem to be far away our economy will be moving through the wheels of banking systems not the cash systems as is the case now Some the important provisions of the Budget which may have impact on the day to¬day working of the organizations which deal in cash are given below:
1) Donation in cash must not exceed Rs 2000/¬ for claiming benefit under Section 80G.
2) Capital expenditure through Cash disallowed: Disallowance of depreciation under section 32 and capital expenditure under section 35AD on cash payment.
3) Limit on Daily Cash payment restricted to Rs 10000/¬ to a person in a day.
4) Reduced Tax rate for transacting in modes other than cash for small businessman at 6% instead of 8%.
5) Restrictions on cash receipt exceeding Rs 3 lakhs for digitized economy (New section 269ST proposed).