DTM – Delhi Trademark: Protecting Your Intellectual Property Rights
In India, incorporation of a company is governed by the Companies Act 1956. It is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning and winding up of companies. It applies to whole of India and to all types of companies, whether registered under this Act or an earlier Act. But it does not apply to universities, co-operative societies, unincorporated trading, scientific and other societies.
The Act is administered by the Central Government through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) controls the task of incorporation of new companies and the administration of running companies.
The Official Liquidators who are attached to the various High Courts functioning in the country are also under the overall administrative control of the Ministry. The set-up at the Headquarters includes the Company Law Board, a quasi-judicial body, having the principal Bench at New Delhi, an additional principal bench for Southern Region at Chennai and four Regional Benches located at New Delhi, Mumbai, Kolkata and Chennai. The organisation at the Headquarters also includes two Directors of Inspection and Investigation with a complement of staff, an Economic Adviser for Research and Statistics and other Officials providing expertise on legal, accounting, economic and statistical matters.
For registration and incorporation of a company, an application has to be filed with Registrar of companies. Application for registration of a company accompanied by the selected names, Memorandum of Association and Articles of Association and other necessary documents is to be filed with the Registrar of companies of the State in which the company is proposed to be incorporated.
Under the Companies Act, an entrepreneur can form two types of companies, namely a private company or a public company.
A Private Company is one, the articles whereof contains the following restrictions:-
Also, the minimum number of members in a private company is two and such a company must have the words \’Pvt Ltd\’ as the last part of its name.
A Public Company, as defined in the Companies Act, has the following features:-
Also, the minimum number of members in a public company is seven and such a company must have the word \’Ltd\’ as last part of its name.
The following certificate will be issued when all documents for registration are in order:
Form 8 – Certificate of Incorporation for a public company.
Form 9 – Certificate of Incorporation for a private company
For incorporation of a private limited company:-
Additional Steps to be taken for formation of a Public Limited Company::-
Income Tax refers to the tax you pay directly to the government depending on your income or profit (for companies/local authorities). The money collected by this direct tax route is used by the Government for infrastructural developments and, also, to pay the employees of central and state government bodies.
Taxes levied by the Government are of two types- Direct taxes and Indirect taxes. Indirect taxes are those that are levied on services and goods. Direct taxes, on the other hand, are levied on profits and income. For example, service tax is what you pay in a restaurant and is an indirect tax, whereas Income Tax that is deducted from your salary every month in the form of TDS, is an example of direct tax.
Income Tax Act of India, passed in 1961, governs the provisions for income tax as well as the various deductions that are applicable to it. However, since 1961, the law has been amended several times to take care of inflation and other socio-economic situations.
Income Tax is undoubtedly the most important source of revenue for the Indian government. It is established as an inevitable imposition on the citizens in order to raise funds for fulfilling the development & defence needs of the country.
Taxes imposed on income, purchase, sale, and property help the government to run different government embodiment and machinery.
In India, the first Income Tax Act was introduced in 1860. It was implied by James Wilson to overcome heavy losses suffered by the British Government due to India’s freedom movement in 1857. The history of Income Tax in India is divided into 3 different periods:
Currently, the Income Tax Act 1961 is applicable in India. In 1956, the government referred the request to impose Income Tax Act. The Law Commission further submitted its report on the Income tax Act in 1958 and the same year, Chairman Shri Mahavir Tyagi, chaired the Direct Taxes Administration inquiry Commission.
The Income Tax Act, 1961 was introduced to the public. Since then, it has undergone amendments from time to time.
As per the Income Tax Act, there are 2 types of taxes in India:
It is borne and paid directly by the individual on whom it is imposed such as, wealth tax, income tax, gift tax, etc. The taxpayer pays this tax directly to the government without any involvement of intermediary source.
If a tax is passed on by the taxpayer to the other person, it is an indirect tax e.g. sales tax, Value Added Tax (VAT) etc. This type of tax is paid indirectly to the Income tax department.
Any Indian citizen aged below 60 years is liable to pay income tax, if their income exceeds Rs 2.5 lakhs. If the individual is above 60 years of age and earns more than Rs 2.5 lakhs, he/she will have to pay taxes to the Government of India. Additionally, the following entities that generate income are liable to pay direct taxes:
Income tax slab rates are defined on the basis of the earning of the taxpayers. Income tax slab rates are broadly categorized as follows:
For HUFs and Individuals (Male or Female) Below the Age of 60 Years Income Tax Slabs & Rates 2017-18
| Income Tax Slabs | Income Tax Rates |
| Income less than Rs 2.5 lakhs | Not applicable |
| Income greater than Rs 2.5 lakhs but less than Rs 5 lakhs | 5% of the amount exceeding Rs 2.5 lakhs |
| Income greater than Rs 5 lakhs but less than Rs 10 lakhs | 20% of the amount exceeding Rs 5 lakhs |
| Income greater than Rs 10 lakhs | 30% of the amount exceeding Rs 10 lakhs |
For Individuals (Male or Female) Above the Age of 60 Years:
| Income Tax Slabs | Income Tax Rates |
| Taxable income less than Rs 3 lakhs | Not Applicable |
| Taxable income greater than Rs 3 lakhs but less than Rs 5 lakhs | 5% of the amount exceeding Rs 3 lakhs |
| Taxable income greater than Rs 5 lakhs but less than Rs 10 lakhs | 20% of the amount exceeding Rs 5 lakhs
|
Taxable income greater than Rs 10 lakhs
| 30% of the amount exceeding Rs 10 lakhs
|
For Individuals (Male or Female) Above the Age of 80 Years:
| Income Tax Slabs | Income Tax Rates |
| Taxable income less than Rs 5 lakhs | Not Applicable |
| Taxable income greater than Rs 5 lakhs but less than Rs 10 lakhs | 20% of the amount exceeding Rs 5 lakhs |
| Taxable income greater than Rs 10 lakhs | 30% of the amount exceeding Rs 10 lakhs
|
For Co-operative Societies:
| Income Tax Slabs | Income Tax Rates |
| Taxable income less than Rs. 10,000 | 10% of the income |
| Taxable income greater than Rs. 10,000 but less than Rs. 20,000 | 20% of the amount exceeding Rs. 10,000.
|
Taxable income greater than Rs. 20,000
| 30% of the amount exceeding Rs. 20,000.
|
For Domestic Companies:
The income tax rate applicable for Domestic Companies will be @ 30%.
For Foreign Companies:
| Nature of Income | Rate of Tax |
| According to the agreement designed by Indian Government, if the foreign firms are paid by the Indian Government in the form of royalties (After March 31st ,1961 and before April 1st, 1976) | 50% |
| According to the agreement made with an Indian concern, if the payment is done for the technical services (provided by foreign firms – After February 29th 1964, before April 1st 1976) | 50% |
| For any other income | 40% |
For Local Authorities:
For local authorities, the tax rate is determined as at 30%.
**Income Tax Slab Rates for the assessment year 2018-19**
There are primarily three ways in which the Income Taxes are collected by the Government:
What are the different taxable Heads of Income?
Income taxes are levied depending on the source of Income. Following are the five main income heads from which taxes are deducted.
Taxable income that all employees receive from their employers is categorized under this head. As per section 192 of the Income Tax Act, the employer will withhold taxes if the employees do not come within the taxable bracket. All about tax deductions and the net paid income are detailed in Form 16 that must be provided by the employer to the employee.
Capital gains taxation applies to earnings from the sale of capital assets held by the tax assessee. Capital assets refer to the properties such as buildings, lands, bonds, equities, debentures, jewelleries, etc. Taxes are levied on the income of the assessee when such properties are sold.
Income Tax is levied on house property, if the house is given out on rent by the owner. However, under this head, the property cannot be used for business or professional purposes.
As per section 30 to 43D of the Income Tax Act, the profits earned from businesses or by providing professional services are considered taxable as per applicable rates. This income head is also known as “Profits and Gains of Business or Profession”.
Income from any sources other than the four listed above is categorized under this head. Some specific income coming under this head is listed below:
Every individual, who has a source of income, regular or irregular, is legally required to file their income tax returns. Even if your income is below the taxable bracket, you should file your income tax returns. There are prescribed forms through which the income earned by a person and the income tax paid thereon are informed to the Income Tax Authority. The following table shows different forms prescribed for different classes of taxpayers.
| ITR Form 1 | Any person who receives regular salary or pension or has an income from residential property or other sources. |
| ITR Form 2 | This form is for those who are come under the category of Hindu Undivided Families and have income from any sources other than Profits gained from business and profession. |
| ITR Form 3 | This form is for the Hindu Undivided Families whose income fall under the head of Profits and Gains of Business or Profession. |
| ITR Form 4S | This form, also known as SUGAM, is applicable to HUFs(Hindu Undivided Families) and individuals opting for SUGAM taxation scheme as per section 44 AD/ AE |
| ITR Form 4 | This form is applicable to Hindu Undivided Families and individuals who are professionals or proprietors |
| ITR Form 5 | This form is applicable for LLPs, Firms, BOIs, AOPs, artificial judiciary persons and local authorities. |
| ITR Form 6 | This form is applicable to companies that claim no exemptions as per section 11 of the Income tax Act. |
| ITR Form 7 | This form is applicable to the persons who are required to file returns as per Sections 139(4A), 139 (4D), 139 (4C), 139(4B) |
| ITR Form V | ITR V is provided to acknowledge that the Income Tax return has been filed. |
GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.
GST is one indirect tax for the entire country.
So, before Goods and Service Tax, the pattern of tax levy was as follows:
Certification Agreement
On acceptance of the Quotation, this certification agreement is signed between granter and the client for providing certification of the client’s management system by the Organisation to the applicable international standard.
, consequatur.
Stage –1 Audit & Document Review
Pre- Audit (optional)
Stage –2 Audit
Non-Conformity Report
Recommendation for Certification
Issue of certificate
Surveillance Audit
Re-certification Audit
Special Audit
Notice of Changes by the Organisation
Notice of Changes by the client
The Certification is maintained for a period of 3 years under the following conditions.
We through our Associate, a global, multi-accredited organization could provide you the most authoritative, most professional, easiest and fastest cost effective certification/ registration services.
The reason to choose us is the fact that:
In addition to ISO 9001 (Quality), ISO 14001 (Environmental), we are also able to offer OHSAS 18001 (Occupational Health & safety), as well as ISO 27001 (Information Security).
We along with our associate, one of the few Certification Bodies/ Registrars that can offer the automotive ISO/TS 16949 standard, the Aerospace Industry as AS 9100 (Aerospace).
Beside above we along with our associate also operate a range of comprehensive Food certification schemes including:
Hazard Analysis & Critical Control Point (HACCP);
ISO 9001 + HACCP combined;
International Food safety standard IFS;
ISO 22000 Food Safety Management Systems;
GMP (Good Manufacturing Practice) for Producer of Animal Feed;
GTP (Good Trading Practice) for cereals and grain storage.
The driving force of DTM is predominantly one of professionalism and quality of service, which is based upon the proven skills of its people.
It is therefore the policy of DTM to establish and maintain effective schemes for the approval and certification of management systems as well as the delivery of management system, under the auspices of Accreditation Bodies and requirements as recognized by the International Accreditation Forum.
DTM is a living and dynamic entity relying upon the input from Accreditation Bodies, Clients, the Advisory Board and internal personnel to enable on-going improvement and relevance to all stakeholders.
We view Registration as Partnership. We establish everlasting relationships with our clients. We look at relationship with a client, as an investment of time and excellence, for a return of Quality. We believe, the value of registration is to, enhance the profitability of the clients serve as a continuous improvement tool for their company and meet and exceed their customer’s requirement.
DTM train and utilize highly capable staff to provide valuable services to assist our Clients to achieve the international recognition and acceptance through the standards of quality management system.
Certification Agreement
On acceptance of the Quotation, this certification agreement is signed between granter and the client for providing certification of the client’s management system by the Organisation to the applicable international standard.
, consequatur.
Stage –1 Audit & Document Review
Pre- Audit (optional)
Stage –2 Audit
Non-Conformity Report
Recommendation for Certification
Issue of certificate
Surveillance Audit
Re-certification Audit
Special Audit
Notice of Changes by the Organisation
Notice of Changes by the client
The Certification is maintained for a period of 3 years under the following conditions.
We through our Associate, a global, multi-accredited organization could provide you the most authoritative, most professional, easiest and fastest cost effective certification/ registration services.
The reason to choose us is the fact that:
In addition to ISO 9001 (Quality), ISO 14001 (Environmental), we are also able to offer OHSAS 18001 (Occupational Health & safety), as well as ISO 27001 (Information Security).
We along with our associate, one of the few Certification Bodies/ Registrars that can offer the automotive ISO/TS 16949 standard, the Aerospace Industry as AS 9100 (Aerospace).
Beside above we along with our associate also operate a range of comprehensive Food certification schemes including:
Hazard Analysis & Critical Control Point (HACCP);
ISO 9001 + HACCP combined;
International Food safety standard IFS;
ISO 22000 Food Safety Management Systems;
GMP (Good Manufacturing Practice) for Producer of Animal Feed;
GTP (Good Trading Practice) for cereals and grain storage.
The driving force of DTM is predominantly one of professionalism and quality of service, which is based upon the proven skills of its people.
It is therefore the policy of DTM to establish and maintain effective schemes for the approval and certification of management systems as well as the delivery of management system, under the auspices of Accreditation Bodies and requirements as recognized by the International Accreditation Forum.
DTM is a living and dynamic entity relying upon the input from Accreditation Bodies, Clients, the Advisory Board and internal personnel to enable on-going improvement and relevance to all stakeholders.
We view Registration as Partnership. We establish everlasting relationships with our clients. We look at relationship with a client, as an investment of time and excellence, for a return of Quality. We believe, the value of registration is to, enhance the profitability of the clients serve as a continuous improvement tool for their company and meet and exceed their customer’s requirement.
DTM train and utilize highly capable staff to provide valuable services to assist our Clients to achieve the international recognition and acceptance through the standards of quality management system.
