Registration of IPRs confirms the ownership of the intellectual property. It helps to monopolize the creation and ensures that no one else uses the invention without the consent of the actual owner so that the owner gets the monetary benefits
FAQ Category: Services
How can one protect the IPRs?
- Use the IP regularly and correctly
- Register the IPRs.
- Be vigilant against misuse and infringement of IPRs.
- Go for Legal Action without delay.
What are the fundamental principles of protection for IPRs?
- National Treatment- Any foreign national applying for a particular IPR in another country will get the same protection as that country provides to its nationals.
- Minimum Period of Protection- The protection is granted for a minimum period known as the term of the IP.
- Scope of protection- The scope of protection depends upon the kind of intellectual property and international norms.
No conditions – If the Intellectual Property fulfils the essential criteria like novelty, originality, innovation, workability, etc., it gets the protection sought.
What are the various types of intellectual property protection?
- Patents
- Trademarks
- Copyrights
- Trade secrets
Whether IPRs are protected in the country of origin only or not?
Intellectual Property Rights need protection not only in domestic markets but also internationally. Therefore, one must file a separate application in all the nations to protect IPR.
What is the main objective of FEMA?
FEMA ensures that there is orderly development and maintenance of the foreign exchange market in India, and external trade and payments are in order as well. FEMA deals with all the provisions relating to the procedures, formalities, dealings, etc., with respect to the foreign exchange transactions in India.
The transactions relating to the foreign exchange have been classified under FEMA in two main categories,
- Current Account Transaction,
- Capital Account Transaction.
What kind of incomes are charged to the tax under the head of “Capital Gains.”?
Under the head “Capital Gains”, any gain or profit arising from the transfer of a capital asset during the year is charged to the Tax.
What is Tax Deducted at Source?
The Income-tax Law has incorporated a system of deduction of tax at the point of generation of income for the quick and efficient collection of the taxes. This system is known as the “Tax Deducted at Source”, commonly known as the TDS. Under this system of TDS, the tax is deducted at the origin of the income.
The tax is deducted by the payer, and the same is remitted to the Government by the payer on behalf of the payee.
The provisions related to the deduction of tax at source are applicable to the following payments: –
- Salary
- Interest,
- Commission,
- Brokerage,
- Professional fees,
- Royalty,
- Contract payments, etc.
In respect of the payments to which the TDS provisions apply, the payer has to deduct the tax at source on the payments made by him, and he/she has to deposit the tax deducted by him to the credit of the Government.
If I have paid the excess tax, then how will it be refunded?
The excess Tax paid can be claimed as a refund by filling the Income-tax return. It is refunded to the person by crediting the same in their bank account through ECS transfer.