Author: Mayur Vinod Faria

This is Advocate Mayur Faria. I hope you found my information useful.

Online Registration of Leave and License Agreement?

Leave and License Agreement can be registered Online as well as Offline.

In Online, there is a prescribed format of the Government which almost has all the basic required clauses of the Leave and License Agreement with a provision to add some more so required by the Parties.

In Online, you can sit home or office and let your Agent authenticate the parties through Biometric verification via Aadhar and it will be submitted to the Registrar.

In Offline, you can register your own comprehensive Leave and License Agreement by remaining physically present before the Registrar.

Both Online and Offline Agreement have same effect of registration and enforceable before the Courts.

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Cost of registration of Leave and License Agreement?

The cost of Leave and License Agreement incurs of Stamp Duty and Registration charges payable to the Government. This is calculated on the basis of your License Fees (Rent) and Deposit amount.

Fees charges by the Agent / Service Provider for carrying out this registration process is between range of Rs.1,500 to Rs.3,000/-.

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Is registration of Leave and License Agreement compulsory ?

It is absolutely compulsory to register your Leave and License Agreement.

In fact, it is for the benefit of the Owner to register this Leave and License Agreement.

If you do not register the Leave and License Agreement then you loose the benefit of quickly vacating the Licensee (Tenant) and seek damages and compensation from him/her/them.

Thus, it is absolutely necessary to register the Leave and License and same is for the benefit of the parties.

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Name Change issue in Passport?

If your name or your parents name are different in supporting documents then you have two remedies as follows:

  1. Publish the Name Change in Gazette.

How to publish name change in Gazette (Click Here).

  1. Publish the Name Change in two NewsPapers. (WhatsApp for more)
  2. Take the above to the Passport Officer and you are done.

We hope this Post was of some help to you.

Electricity Company Loses Tax Dispute Over Government Grants and Subsidies

Supreme Court of IndiaWrit Petition (Civil) No. 1613 of 1992

Facts of the Case

The case involved a dispute between an electricity company and the Income Tax Appellate Tribunal over the deductibility of government grants and subsidies from taxable income. The company had received grants and subsidies from the government to help develop its infrastructure. The company deducted these grants and subsidies from its taxable income. The tax authority ruled that the company should not have deducted the grants and subsidies. The company appealed the decision to the Tribunal. The Tribunal upheld the tax authority’s decision.

Issue

The issue before the Supreme Court was whether the company was entitled to deduct the government grants and subsidies from its taxable income.

Supreme Court’s Decision

The Supreme Court held that the company was not entitled to deduct the government grants and subsidies from its taxable income. The Court found that the grants and subsidies were not revenue receipts but were capital receipts. Capital receipts are not deductible from taxable income.

Reasoning

The Supreme Court reasoned that the grants and subsidies were given to the company to help it develop its infrastructure. The infrastructure was a capital asset of the company. Capital assets are not deductible from taxable income. The Court also found that the grants and subsidies were not revenue receipts because they were not given to the company in exchange for goods or services.

Conclusion

The Supreme Court’s decision in this case is important because it clarifies the law on the deductibility of government grants and subsidies from taxable income. The decision is also important because it has implications for other types of capital receipts, such as loans and contributions.

Important Timelines

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The Negotiable Instruments Act (NIA) is the primary legislation governing negotiable instruments in India. It was enacted in 1881 and has been amended several times since then. The NIA lays down the timelines for various aspects of negotiable instruments, such as:

  • Negotiation: A negotiable instrument can be negotiated within six months of its date of issue or within such longer period as may be specified in the instrument itself.
  • Presentment: A negotiable instrument must be presented for payment within a reasonable time after its date of issue or within such shorter or longer period as may be specified in the instrument itself.
  • Dishonor: A negotiable instrument is dishonored if it is not paid on presentation. The dishonor of a negotiable instrument must be communicated to the drawer and the indorsers within a reasonable time after the date of dishonor.
  • Notice of dishonor: The notice of dishonor must be given in writing and must state the date of dishonor and the reason for dishonor. The notice of dishonor must be sent to the drawer and the indorsers by registered post or by any other means that is reasonably likely to bring the notice to their attention.
  • Filing of a complaint: A complaint under Section 138 of the NIA must be filed within 30 days of receiving the cheque bounce memo from the bank.

It is important to note that these are just the general timelines prescribed by the NIA. There may be specific timelines for certain types of negotiable instruments or for certain situations. For example, the timeline for presentment of a bill of exchange is different from the timeline for presentment of a cheque.

File Criminal Complaint for Cheque Bounce

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You can file a cheque bounce complaint after the expiry of 15 days from the date of receipt of the cheque bounce notice by the drawer. The complaint must be filed within 30 days of receiving the cheque bounce notice from the bank. If the complaint is not filed within 30 days, you will lose your right to file a cheque bounce case against the drawer.

To file a cheque bounce complaint, you need to visit the magistrate’s court in the jurisdiction where the cheque was dishonored or where the drawer resides. You will need to fill out a complaint form and provide the following documents:

  • Cheque bounce memo from the bank
  • Demand notice sent to the drawer
  • Proof of payment of court fees

Once you have filed the complaint, the court will issue a summons to the drawer. The drawer will be required to appear in court on the date of the hearing. If the drawer is found guilty, the court can punish them with imprisonment for up to two years, or a fine that can extend to twice the amount of the cheque, or both.

Send a Cheque Bounce Notice

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According to Section 138 of the Negotiable Instruments Act, 1881, the payee must send a demand notice to the drawer within 30 days of receiving the cheque bounce memo from the bank. The demand notice must be in writing and must clearly state the amount of the cheque, the date on which the cheque was dishonored, and the reason for the dishonor. The demand notice must also give the drawer 15 days to pay the amount of the cheque.

If the drawer fails to pay the amount of the cheque within 15 days of receiving the demand notice, the payee can file a complaint with the magistrate’s court.

It is important to note that the demand notice must be sent within 30 days of receiving the cheque bounce memo from the bank. If the payee fails to send the demand notice within 30 days, they will lose their right to file a cheque bounce case against the drawer.

If you have received a cheque bounce memo from the bank, it is important to consult with a lawyer to understand your legal rights and options.

The provisions prevailing in a cheque bounce case in India are as follows:

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  • Section 138 of the Negotiable Instruments Act, 1881 – This section makes it a criminal offense to dishonor a cheque for insufficiency of funds.
  • Demand notice – Before filing a complaint with the magistrate’s court, the payee must send a demand notice to the drawer asking them to pay the amount of the cheque within 15 days.
  • Complaint – If the drawer fails to pay the amount within 15 days of receiving the demand notice, the payee can file a complaint with the magistrate’s court.
  • Summons – Once the complaint is filed, the court will issue a summons to the drawer.
  • Trial – If the drawer appears in court and pleads not guilty, the court will hold a trial.
  • Punishment – If the drawer is found guilty, the court can punish them with imprisonment for up to two years, or a fine that can extend to twice the amount of the cheque, or both.

In addition to the above provisions, there are a few other things that you need to know about cheque bounce cases:

  • The complaint must be filed within 30 days of receiving the cheque bounce notice.
  • The complaint can be filed with the magistrate’s court in the jurisdiction where the cheque was dishonored or where the drawer resides.
  • The drawer can file a petition for compromise with the payee at any stage of the case.
  • If the drawer and payee reach a compromise, the court will dismiss the case.
  • If the drawer is convicted and sentenced to imprisonment, they can apply for bail.