A patent essentially relates to inventions in the field of science and technology. A patent is a set of exclusive legal rights granted by a state (national government) to the inventor or his assignee for a limited period of time until that invention can be made publicly known. A patent is a monopoly of sorts which allows a patent owner to carve his own niche in the marketplace by defining their ‘new’ territory.
The Finance Act 2012 brought in an amendment to tax the share premium which is above the fair value of investment by the resident angel investors and not proven satisfactorily to the tax assessing officer. This amendment is effective 1 April 2013, please reverse it Mr. Finance Minister!
From the time LLP has come into existence we keep getting query as to How LLP is different from Private Limited company from the point of Taxation.
In this article, we have tried to address this issue with the analytic flow-chart and mathematical example, as to how these two entities are different from each other.
Sec 2(1)(zzk) of the Companies Bill, 2009 brought in the concept of a “One Person Company [OPC]”. It is essentially a legal entity which functions on the same principle as a Company, but with only one member and one shareholder. It was an alternative for Indians, who typically operate using the risky concept of a proprietorship.
This remained dormant till this year, and yesterday, the Parliament of India legislated approving the idea. The Companies Act, 2012 passed by the Lok Sabha provides for the concept of an OPC.
This article is in continuation of our last article on “Income Tax Return filing” for series on “Taxation Basics for Startups”. In this article we will discuss and address in detail about some of issues relating to “Income Tax Return Filing”. What happens if you file your tax returns after the due date? Individuals and [...] Read More
Many entrepreneurs start their businesses as a sole proprietorship due to the low compliance requirements. As the business and the revenues grow, there is a need to separate the bank accounts and the tax filings of the sole proprietor and that of the business. To achieve this separation a possible solution is to convert the [...] Read More
Much has been written about how start-ups can raise capital by issuing equity, little however has said about how they can raise capital by issuing debt. In corporate law, debt and equity differ fundamentally in the sense that equity represents ownership in the company, whereas debt represents a liability in the form of a claim [...] Read More
The growth of e-commerce in India has also lead to a growth of fraudulent e-commerce sites, or websites which do not have content of their own but copy content from another competitor. In a matter of seconds, content from a website can be copied and posted in another website. What can you do about it? [...] Read More
EasyLaw is an online legal and business services portal with an aim to provide timely legal, procedural information and professionally drafted and executed legal documents at affordable prices. “All our services can be accessed through our website in an affordable and transparent manner,” says Dhruv Jain, the director of Easylaw.in Starting Up The idea of [...] Read More
In this innovation series, we have covered essential aspects of patents and intellectual property for startups. This article is an attempt to dive into the integrities and headaches involved in transfer and ownership issues of Intellectual Property Rights. At once you might think why it is relevant for start-ups or mid-sized firm as these problems [...] Read More