Enhancement in the fee for registration of copyright for various works

Notification Regarding Copyright Rules, 2013

Enhancement in the fee for registration of copyright for various works

The Copyright Rules, 2013 has been notified by the Copyright Division, Department of Higher Education, Ministry of Human Resource Development on 14th March, 2013. The amendments to the existing provisions of the Copyright Act, 1957 and introduction of new provisions under the Copyright(Amendment) Act, 2012, which came into the force on 21st June, 2012, necessitated amendments to the Copyright Rules, 1958. The draft Rules were posted on the website of the Copyright Office on 28th August, 2012 seeking comments of all stakeholders and experts giving a deadline of 20th September, 2012. The Ministry also held a meeting with various stakeholders and copyright experts on 8th October, 2012 to seek their suggestions on the draft rules. The Copyright Rules, 2013 provide new rules for statutory licence for cover versions and broadcasting of literary and musical works and sound recording; compulsory licences for works withheld from public, unpublished and published works, for benefit of disabled; registration of Copyright Societies and Performer’s Right Societies; storage of transient or incidental copies of woks; making or adapting the work by organisations working for the benefit of persons with disabilities; importation of infringing copies and technological protection measures. The fee for registration of copyright for various works and fee for licences to be issued by register of Copyrights under the directions/orders of the Copyright Board have been increased under the Copyright Rules, 2013.  The minimum fee has been increased for registration from Rs. 50/- per work to Rs. 500/- per work and the maximum fee has been increased from Rs. 600/- per work to Rs. 5,000/-. The fee for licences has been increased from Rs. 200/- to Rs. 2000/- per work and the maximum fee has been increased from Rs. 400/- to Rs. 40,000/-.  The new fee structure provided under Second Schedule of the Rules is applicable from the date of coming into force of the Copyright Rules, 2013 that is 14th March, 2013. A copy of the same has been made available on the website of the Copyright Office (copyright.gov.in). R N M (Release ID :93921)

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30 DAYS REVISION CLASSES FOR JUNE-2013 EXAMS

INCOME TAX CASES

"No Penalty to be levied u/s 271D or 271E if there is reasonable cause : As per Section 273B of Income Tax Act no penalty shall be levied if the failure to comply with the provisions of section 269SS or 269T is due to some reasonable cause. Now the question arises what can be a reasonable cause to justify the violation of the provisions of section 269SS and 269T. Some of the reasonable causes based upon judicial decisions are provided as follows:-

Repayment or receipt of amount to partners: If a partner introduces capital in cash in the firm or withdraws the same to the tune of Rs 20000 or in excess of Rs 20000, then Provisions of section 269SS or 269T shall not be attracted as the introduction of capital or withdrawl from firm cannot be called as loans or deposits.

Amount paid by firm to partners or vice versa- is payment to self and doesnot partake the character of loan or deposits in general law. Provisions of section 269SS are not applicable to such facts( CIT v. Lokhpat Film Exchange (Cinema) [2008] 304 ITR 172 (Raj.)

Deposit assessed as income, No penality can be imposed u/s 271D in such case: It was held by Jodhpur tribunal in Bajrang Textiles v. Additional CIT [2009] 122 (JD.) 190 that where the A.O having treated the impugned amount of deposit as income, he is precluded from treating the same amount as deposit or loan for the purpose of section 269SS and levy penalty u/s 271D. The penalty ought to be cancelled.

Acceptance or repayment through Journal entry donot attract section 269SS or 269T: Acceptence or repayment through Journal Entry would not come within the ambit of the words ‘loans or deposits’-section 269SS applies only where money passes from one person to another by way of ‘loan or deposit’[CIT v. Noida Toll Bridge Co. Ltd. 262 ITR 260 (Del.)]

A genuine transaction made in an emergency, doesnot attract penalty u/s 271D: held in Mrs Rupali R. Desai v. ACIT 88 ITD 76 (Mum.). In ITO v. Shree Mahaveer Industries 82 TTJ 549 (Jd.) it was held that cash paid to meet medical treatment expenditure in emergency, does not attract penalty u/s 271D.

In ITO v. Prabhulal Sahu [2006] 99 TTJ (Jd.) 177 it was held that Assessee was not aware of provisions of section 269SS or 269T. His councel did not apprise him about the provisions. No penalty u/s 271D shall be attracted.

Where Depositors residing in rural areas are not having access to banking facility and are ignorant of relevant provisions of law, it would constitute bonafide reasons for payment in cash. (ACIT v. Vinman Finance & Leasing Ltd. [2008] 306 ITR (AT) 377 (Visakha.)

Loan given by relatives on Sunday for safe custody and for use in business. No contravention of section 269SS takes place- ITO v. T.R. Rangarajan [2005] 279 ITR 587 (Mad.)

Cash Transaction made on Sunday. No penalty could be imposed in such a case.- ITO v. Narsing Ram Ashok Kumar[1993] 47 ITD 38(Pat)

Transfer of money exceeding Rs. 20000 by way of bank voucher instead of a/c payee cheque or draft doesnot attract penalty u/s 271D as the transaction are through banking channels only held in Asst. CIT v. Jag Vijay Auto Finance (p) Ltd.[2000] 68 TTJ (Jp) 44

Loan in cash under compelling circumstances have been held to be reasonable cause: Industrial Enterprises v. DCIT [2000] 68 TTJ (Hyd) 373

Where the Lenders did not have any bank account which compelled the assessee to accept the loan in cash. This has been considered as reasonable cause in Balaji Traders v. DCIT [2001] 73 TTJ (Pune) 246.

Wishing You A Very Happy , Colorful HOLI

Happy Colorful  HOLI  !

Wishing You A Very Happy , Colorful  HOLI !

May God gift you all the colors of life

colors of joy, colors of happiness

colors of friendship

colors of love and all other colors you want to paint in your life.

Happy Holi!

Colorful  HOLI 

  

 With Best Regards

cs manoj bhagat

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BANK WILL OPEN ON 29TH, 30TH & 31 TH MARCH

RBI/2012-13/454 DPSS.CO.CHD.No./1674/ 03.01.03/2012-2013 March 21, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear sir, Clearing operations on March 29, 30 and 31, 2013 With a view to facilitate accounting of all the Government transactions for the current financial year (2012-2013) by March 31, 2013, it has been decided to conduct special clearing at all clearing houses across the country on March 29, 30 and 31, 2013 as detailed below: Date Type of clearing Presentation clearing Return clearing March 29, 2013 (Friday) Locations where the day is a holiday under Negotiable Instruments Act 1881- A Special Clearing with same day return clearing One hour after the extended business hours keeping in view the operational convenience at the local center Half an hour/One hour after the presentation clearing or as per the operational convenience at the local center. Locations where the day is a working day Normal clearing operations as is followed on any normal working day March 30, 2013 (Saturday) Normal Clearing as followed on any working Saturday In addition, a Special Clearing for credit to Government accounts only One hour after the extended business hours keeping in view the operational convenience at the local center Half an hour/One hour after the presentation clearing or as per the operational convenience at the local center March 31, 2013 (Sunday) A Special Clearing for credit to Government accounts only. One hour after the extended business hours keeping in view the operational convenience at the local center Half an hour/One hour after the presentation clearing or as per the operational convenience at the local center 2. Agency banks doing Government business alone will be permitted to present instruments in the Special Clearing on other participating banks. Other member banks of the Clearing House (including the presenting banks) are required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing. 3. In this regard, a reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No. H.5486/ 42.01.029 / 2012-13 dated March 21, 2013) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2012-13). 4. Member banks of Clearing Houses are advised to adhere to the instructions contained in this circular as well as the instructions received from the Regional offices of Reserve Bank of India and Presidents of respective Clearing Houses. 5. Member banks are also advised to be in readiness to participate in the Centralised Payment Systems (RTGS and NEFT) on March 29, 2013 and March 31, 2013. A separate broadcast message in this regard will be issued through the respective system. Yours faithfully (Vijay Chugh) Chief General Manager