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I ndustrial, Labor & General Law Important terms related to the Law on the Transfer of Property Act. Vested and Contingent Interests Vested Interest is an interest that is created for the benefit of a person – without specifying the time at which it is to take effect, or specifying that it is to take effect immediately, or on the occurrence of an event.   Contingent Interest means an interest created in favor of a person – to take effect only on the happening or not happening of a specified uncertain event, which may or may not happen.   Contingent Interest means an interest created for the benefit of a person – to take effect only on the occurrence or non-event of a specified uncertain event that may or may not occur.   In simple terms, as provided for in the Transfer of Property Act; where interest is granted, the transfer is complete but where the interest is contingent, the transfer depends on the preceding condition, i.e. where the transfer takes place and the interest is gran

Meaning of Disablement The term disability has not been specified under the Act, but the term disability is the condition of being disabled or the experience of being disabled in a general sense. For your own tasks, it is the state that depends on the other person. The word disability can be referred to as an impairment of human functioning, which can be physical impairment, sensory impairment, chronic disorder, or some other type of mental illness. There can be effects on areas of the body or on the behavior of the involvement of individuals in life.   The disability  may be in several kinds and the health status of the worker determines the type of disability. Partial Disability or Complete Disability may be one. Both words have been specified by the Act. The disability can be defined as the act of losing the salary-earning capacity by reading and understanding all the words, and it can be bifurcated as complete or partial disability depending on the type or percentage of injury.   A

In the previous article, we understood the structure of the civil courts and the jurisdiction of the courts and the jurisdiction of the courts. Now we're going to learn about the "Res Sub Judice Doctrine/Stay of Suit" So we're starting here…   General understanding of the Doctrine of Res Sub Judice/Stay of Suit and of the Doctrine of Res Judicata:   According to Section 10 of the Code of Civil Procedure, which deals with the Doctrine of Res Sub Judice, which deals with the stay of the cases under consideration or adjudication is still pending before the Court, whereas according to Section 11 of the Civil Procedure Court, which deals with the Doctrine of Res Judicata, which deals with the matters already decided.   Doctrine of the Judiciary/Stay of the Suit:   Pursuant to Section 10 of the CPC, the rule in the Doctrine of Res Judice prevents courts of concurrent jurisdiction, i.e. 'courts that have the capacity to exercise judicial review by different courts at the

Set-Off:   Set Off is dealt with in accordance with Rule 6 of Order 8 of the Code of Civil Procedure, 1908. It's a defense mechanism for the sum of money owed. It's the form of a cross, a suit. Legally, it is defined as the reciprocal acquirement of the debts between the parties, i.e. between the plaintiff and the defendant. It eliminates or extinguishes the claim of the plaintiff to the extent of the amount of money claimed by the defendant as a counterclaim.   In simple terms, this means that if two parties owe money to each other but one of the two parties owes more money than the other party pays the net amount and settles the money owed.   Pursuant to Rule 6 of Order 8 of the Court, where the defendant claims, in an action against the plaintiff, the recovery of money which the plaintiff has legally recovered from the plaintiff, not exceeding the pecuniary limit of the Court, and where both parties have the same character as the plaintiff's claim, the defendant may, at

SOCIAL RESPONSIBILITY CS Executive CORPORATE Corporate Social Responsibility is a regulation which obliges companies to take an active part in complying with the legal spirit of the ethical norm and international norm. CSR activities help the organization to have a better impact on society, consumers and our stakeholders. It gives the edge to CSR-following business over others.   APPLICABILITY OF CSR ON BUSINES As per section 135 of the Act 2013 of the Company,   Every company that lies in these conditions must spend the prescribed amount on CSR activities:-   1.  Company with a net value of 500crore ropes or more 2.  Company with a turnover of roupees 1000crore or more 3.  Company with a net profit of 5crore or more Upon compliance with any of the above conditions, the company shall establish a CSR committee, which shall establish policies related to CSR expenditure and shall be disclosed in the report of the board of directors. The company shall make expenditure of at least 2 per cen

Profits UNDER HEAD "SALARIES" CS EXECUTIVE TAX LAWS The first head under the Income Tax is income under the "Salaries" head. Salaries is the one that has various components and associated computations in calculating the taxable income under the head relative to the other head in the Income Tax. Let's delve into knowing the definition of wages, what salary, salary allowances, retirement benefits, leave cash and salary criteria entail.   The remuneration earned by a person, in any form whatsoever, is regarded as a salary only if the relationship between the payer and the payee is between the employer and the employee or the master and servant. As far as the existence of the persons covered by the head salary is concerned, the employer may be an entity, a company, an association of persons, a company, a corporation, a central government, a government agency, a public body or a local authority, etc., probably operating in or outside India. As far as the worker is co

In CS Online Coaching Classes, the Negotiable Instrument Act is a very interesting subject of Economic, Business and Commercial Law, which is discussed in a cheque that is explained below:   What's a Cheque? A cheque is a bill of exchange drawn from a specified banker and not expressed as payable otherwise than on demand and includes an electronic image of a truncated cheque and a cheque in an electronic form. (Sec. 6 of the NIA)   Explanation I – For the purposes of this section, the terms-   An electronic form cheque means a cheque that contains the exact mirror image of a paper cheque and is generated, written and signed in a secured system that ensures minimum safety standards with the use of a digital signature (with or without a biometric signature) and an asymmetric cryptosystem; A truncated cheque shall mean a cheque which is truncated in the course of a clearing cycle, either by the clearinghouse or by the bank, whether paying or receiving payment, immediately on the gener

  The Tax on Goods and Services (GST) is a tax on the consumption of goods and services dependent on destinations. It is planned to be charged from production to final use at all stages, with the tax credit paid at previous stages available as a setoff. In a nutshell, only value-added will be charged and the tax burden will be borne by the final user levy and GST collection will be carried out in the case of intra-state supply and inter-state supply, according to the provisions of the CGST Act 2017 and IGST Act 2017.   In the case of intra-state supply, GST is levied as per CGST (Central Goods and Services Tax) Act, 2017, and in the case of inter-state supply, GST is levied as per IGST (Integrated Goods and Services Tax) Act, 2017. CGST is levied on all the supplies of goods or services or both supplied within the state, except on the supply of alcoholic liquor for human consumption at such a rate as notified by the Central Government on the recommendation of the GST Council.   The Cen

  EXEMPTION UNDER GST – GST EXEMPTION – SECTION 11 of CGST ACT The scope of the article mainly concerns the power of governments under section 11 of the CGST Act, 2017, to grant exemptions from the Goods and Services Tax (GST). The nature of the clause, however, is pretty straightforward and clear in that it addresses the reasons for the government's exemption. Let's first understand the definition of exemption and how Section 11 takes its place in the GST exemption before moving into Section 11 provisions of the CGST ACT.   GST EXEMPTION – EXEMPT SUPPLY Exempt supply, under GST, means the distribution of products and services that are not tax-consuming. Since we all know that GST is focused on supply, GST cannot attract GST despite the trigger. The tax credit charged for input in connection with these materials is obviously not available for use and the GST liability will not be excluded. To put into simple words, the following are three types of supply which are considered as

  Composition Levy under GST – Goods and Services Tax GST is an indirect tax used in India on the delivery of goods and services (goods and services tax). The Indian government entered into force on 1 July 2017. Tax on goods and services is divided into five tax burdens for collection of tax – 0%, 5%, 12%, 18% and 28%. Petrol, alcoholic, and energy goods, however, are not subject to GST levy. This tax substituted the current various taxes imposed by the state and central governments. GST prices rise for everyday products while the rates for luxury goods are reduced. GST ID Number is a special 15 digit number given by the PAN of a company to companies registered in the framework of GST. The composition levy is a tax levy system planned for small taxpayers with revenues of up to Rs. 1,5 crore. Small taxpayers are forced to pay a flat tax, irrespective of their production, supply or trade. In Northeastern countries and hill countries, such as Sikkim and Himachal Pradesh, the limits of GST

Many students might be fascinated by a lesson on criminal law at CS Executive level. Will a corporate secretary have to deal thoroughly with criminal law in his professional competence? The reply is no. With respect to every substantive law other than corporate laws, the lesson deals with the fundamental understanding that an expert should have knowledge of. Every individual student is always involved in the comprehensive practice.   With reference to the Criminal Procedure Code, 1973 (CrPC Act), it gives only some light in its executive curriculum for students with relative procedural legislation restricted to the defense against the liability of directors, secretaries, managers or other senior managers in various corporate and industrial laws of criminal offenses.   The subject of the 1973 Code of Criminal Procedure (CrPC Act) now becomes known as the Rule of Consolidation and Modification. The formulation of laws concerning the process to be used to arrest the suspects, prosecute th