Term of patents of addition —(1) A patent of addition shall be granted for a term equal tothat of the patent for the main invention, or so much thereof as has not expired, and shallremain in force during that term or until the previous cesser of the patent for the maininvention and no longer:Provided that […]
Patents of addition (1)Subject to the provisions contained in thissection, where an application is made for a patent in respect of any improvement in ormodification of an invention described or disclosed in the complete specification filedtherefor (in this Act referred to as the “main invention”) and the applicant also applies orhas applied for a patent
Term of patent (1) Subject to the provisions of this Act, the term of every patent granted,after the commencement of the Patents (Amendment) Act, 2002, and the term of everypatent which has not expired and has not ceased to have effect, on the date of suchcommencement, under this Act, shall be twenty years from the
A company acquires the Dormant Company status when the Registrar approves an application in Form MSC-1 of Companies. There are several reasons why a company seeks dormant status. Please refer to our detailed discussion on the procedure to convert an active company as a dormant company; click here. A company can remain dormant only for
The term “Income tax” collected by the Income Tax Department of India. Professional tax is similar to income tax, but unlike income tax, it is collected by the state government. Professional tax deducts from the employee’s salary income or applies to the income of professionals and businesses for their trade and profession. Many employees may
The term “real-time gross settlement (RTGS)” refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities. RTGS is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank. Once completed, real-time gross settlement payments are final and irrevocable. In most
A moratorium period is a period during which the borrower is not obligated to make payments. In other words, during a moratorium period, the borrower is permitted to halt their payments. It is commonly incorporated in home loans – called an equated monthly installments holiday – and educational loans. Understanding a Moratorium Period A moratorium
Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*. a tax-paying mechanism offered to the country’s small businesses
A “non-resident taxable person” refers to an individual who occasionally conducts transactions involving the sale of goods or provision of services, either as an agent or as a principal or in any other capacity, but lacks a permanent business or residence location in India.” Any person who is a resident of India will obtain regular
Grant of patent to true and first inventor where it has been obtained by another in fraud of him (1) Where the patent has been revoked under section 64 on the ground that thepatent was obtained wrongfully and in contravention of the rights of the petitioner or anyperson under or through whom he claims, or,
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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