LEXIS AND COMPANY

  What is limitation of time to send legal notice Us 138 of NI Act ? Section 138 of the Negotiable Instruments Act, 1881 (NI Act) provides for a limitation period for sending a legal notice before filing a complaint for dishonor of cheque. According to the Section 138 of the NI Act, the payee or holder of the cheque must give the drawer (i.e. the person who issued the cheque) a legal notice, demanding payment of the cheque amount within 30 days of the receipt of cheque return memo. The notice must be sent by registered post or through a notary public. If the drawer fails to make the payment within 30 days of the receipt of the notice, the payee can file a complaint against the drawer for the offence of dishonor of cheque. The time for filing complaint is 45 days from the date of sending legal notice. It is important to note that, the limitation period of 30 days is mandatory and the payee must send a legal notice before filing a complaint under Section 138 of the NI Act, if the che...

  What are the important sections of CPC ? The Code of Civil Procedure (CPC) is the primary law that governs the procedure for civil litigation in India. It lays down the rules and procedures to be followed in civil courts and tribunals. The CPC is divided into two parts: the first part deals with the jurisdiction and powers of the civil courts and the second part lays down the rules of procedure to be followed in civil courts. Here are some of the important sections of the CPC: Order 7 Rule 11: This section deals with the dismissal of a suit for non-payment of court fees. It states that if a plaintiff fails to pay the court fee required on a plaint within the time specified by the court, the suit shall be dismissed, unless the plaintiff shows sufficient cause for the non-payment. Order 8 Rule 6: This section deals with the procedure to be followed when a defendant admits the facts stated in the plaint. It lays down the procedure for the plaintiff to prove the facts admitted by the...

  What are the different types of bails ? In India, there are several different types of bail that a person can apply for, depending on the nature of the case and the circumstances of the accused. Some of the most common types of bail include: Regular bail: This is the most common type of bail, and it is granted by the court to an accused person who has been arrested and charged with a non-bailable offense (an offense for which bail is not a matter of right). The accused person must satisfy the court that there are reasonable grounds for believing that the accused is not guilty and that he will not abscond if released on bail. Anticipatory bail: This type of bail is granted by the court to a person who has reason to believe that they may be arrested in the future for a non-bailable offense. The purpose of anticipatory bail is to prevent the arrest of a person and to allow them to apply for regular bail after arrest. Bail bond: This is a type of bail where the accused person has to ...

  IN THE HON’BLE COURT OF SESSION JUDGE, __________ Sanjay son of Sh. _______                                                          ………APPLICANT/PETITIONER                          VERSUS State                                                                   ……….RESPONDENT                                                             1 st  Application for g...

  What is anticipatory bail ?   Anticipatory bail is a legal provision in India that allows a person who has reason to believe that they may be arrested in the future for a non-bailable offense, to apply for bail in advance before their arrest. The purpose of anticipatory bail is to prevent the arrest of a person, and to allow them to apply for regular bail after arrest. The provision for anticipatory bail is provided under Section 438 of the Code of Criminal Procedure (CrPC). Anticipatory bail can be granted by a High Court or a Sessions Court. Once granted, the anticipatory bail remains in force until the person is arrested, or until the bail is cancelled by the court. An application for anticipatory bail can be made by the person who is likely to be arrested, or by any person on their behalf, to the High Court or the Sessions Court within whose jurisdiction the offence has been committed. The application must be accompanied by an affidavit, stating the grounds on which the ...

  What is an interim bail ? Interim bail in India is a type of bail that is granted temporarily, usually for a short period of time. It is granted by a court while the final decision on regular bail is pending. Interim bail is typically granted when an accused person is unable to secure regular bail, or when the court needs more time to consider the merits of the case before making a final decision on bail. The conditions of interim bail are similar to those of regular bail, and the accused person is required to comply with them while the bail is in effect. How to get an interim bail ? To get interim bail in India, an accused person or their legal representative must file a bail application in the appropriate court. The bail application must include the grounds on which bail is sought and any relevant supporting documents. When the bail application is filed, the court will typically hear the arguments of both the prosecution and the defense and make a decision on whether to grant b...

  How to compute court fee to be paid on plaint ? The court fee to be paid on a plaint (a document that initiates a legal proceeding) varies depending on the jurisdiction and the specific case. In general, the court fee is calculated based on the amount of the claim or the value of the property in dispute. In India, the court fee is calculated based on the Indian Court Fees Act of 1870. It is usually a percentage of the value of the claim or the property in dispute. It is advisable to consult with a lawyer or check with the specific court where the case will be filed to determine the exact court fee that needs to be paid. An example of court fee calculation in India would be as follows: Let's say an individual is filing a suit for recovery of money and the amount claimed is INR 50,000. As per the Indian Court Fees Act, the court fee to be paid would be 2% of the claim amount, which in this case would be INR 1000. Another example would be a suit for recovery of possession of immovab...

  Free ISO Certificate Online in India Possible or Not Today in this article we are discuss about ISO Certification Registration Online Free in india. So before talking about ISO Certification as Free you need to know the Real Cost to create a ISO Certification Registration in India. Cost or Fees on the ISO Certification in India – Non IAF ISO Certification Cost –  Its Cost approx 1500/- to 4000/- in the market for the ISO 9001 Certification where Non IAF Agencies issued the ISO Certification after checking Quality of the Business through Audit. IAF ISO Certification Cost – IAF ISO Certification Cost is really expensive as it requires the proper Audit of the firm, after that they can issue IAF ISO Certification. Its Cost approx 3000/- to 8000/- for IAF ISO Certification. ISO Certification is Free Possible or Not ? So as we seen above the Actual Cost on the ISO Certification which arise as all Non IAF or IAF Agencies have to bear the expense in the Audit of the firm and they ha...

  How to Show Future and Options (F&O) Loss in ITR Today in this article we are discussing How to Show Future and Option (F&O) Loss in ITR. So Before Showing the Losses in the ITR we have to know about which type of the ITR is required to Show the F&O Losses. Type of the ITR Form Required to Show F&O Loss – ITR – 1 Form In this ITR-1 its not possible to Showing the Losses as ITR-1 is only required when you have Salary Income with the House Property & Other Source Income. Apart from these source of income there is no column for the F&O Losses. ITR – 2 Form In this ITR-2 Form there is capital gain schedule but Future and Options Losses are treat as Business Losses so ITR-2 Form is also not enough for showing the Future and Option Losses. ITR -3  Form In this ITR-3 is the perfect to show your all F&O and Intraday Losses for the trading. ITR-3 have a separate column for Business Income & Losses where you can show books of Accounts of your ...

  Sale of Securities and units of Mutual Fund in ITR AIS Portal Taxability Today we are discussing about Sale of Securities and units of Mutual Fund in ITR AIS Portal Taxability and where to show in the Income tax return of sale of securities and units of mutual funds. After dec 2021 Govt department launch the AIS Portal so from AY 2022-23 All ITR will be filed as per the AIS and TIS Statement Only. Now Many Taxpayer are shocked to see the entries of Sale of Securities and units of Mutual Fund in AIS and TIS Income Tax Statement because previously its not track by the department but now All Demat Account and Mutual Fund Registrar CAMS & KFintech transactions are tracked by income tax department every year. How to Show Sale of Securities and units of Mutual Fund in Income Tax Return First of all you need to Identity the kind of the entries. If is related to CDSL OR NSDL then its mean you sale some stocks and earn the capital gain on the same. In that case you need to download yo...

  Refund Awaited in ITR and ITR Processed with Refund Due Meaning Hey Guys Today in this Article we are talking about What is the Meaning of the Refund Awaited or ITR Processed with Refund Due. Actually After submission of the ITR, on Income Tax Portal there is Message Showing as Refund Awaited on Home Screen And ITR Processed with Refund Due in Filed Return Screen. What is Meaning of Refund Awaited ? Once you Submit your Income Tax Return, after that CPC Bangalore Process the ITR and Issue a Intimation Letter where your Refund has been Decided. So after that on the Home Screen there is Pop Up Showing as Refund Awaited which means Income Tax Department already determined your Refund which will be issued soon into your Linked bank account. What is Meaning of ITR Processed with Refund Due? If the status reads “processed with refund due,” that signifies that your tax return has been filed and that you should get your refund 20 to 45 days from the ITR processing date. If your refund re...

  ITR Computation Format in Excel 2022-23 | Download ITR Computation Today in this Guide we are talking about ITR Computation Format Download in Excel 2022-23. Basically when you want to apply for Credit Cards or Bank loan you need always income tax return so normally people think that only Official Income tax return acknowledgement are enough but you need to provide ITR Computation Format with the acknowledgement on the same. So Let’s First understand all about ITR Computation then just Checkout ITR Computation Format in Excel on the same. WHAT IS ITR COMPUTATION? ITR Computation is simplified Document which explain your source of income and tax liability which already has been paid through Official Income Tax Return Acknowledgement. Normally Official Income Tax Return Form-1,2,3,4 are 8-15 Pages so Bank official not use that documents to check Income. They need ITR Computation which simplified everything from Source of Income to basic details in just 1-2 pages. Why ITR Computatio...