Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: due date for vat payment :: ACCOUNTING STANDARDS :: TDS :: articles on VAT and GST in India :: VAT RATES
 
 
« General »
 Confusion over GST persists: Wholesale grain market affected, sales fall by 40 percent in Pune
 Slow tax growth reflects companies' GST troubles
 What is PAN card? Why is it important?
 Govt to cut down executive discretion on tax laws
 Businesses can start filing July returns on GSTN from August 5
 Are you earning abroad? Know the tax rules
 Attention last minute tax filers! Know about key changes made by govt this year
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners

Draft IPR policy suggests tax incentives for patents
December, 25th 2014

Government-appointed think-tank on IPR today came out with its first draft, which seeks to encourage innovation by providing tax incentives and modifying intellectual property rights (IPR).

The National IPR Policy has been formulated with the mission to foster innovation, accelerate economic growth, employment and entrepreneurship besides protecting public health, food security and environment, among other areas of socio-economic importance.

The draft has enlisted six objectives of the policy which includes patent awareness and promotion; creation of IP; legal and legislative framework and commercialisation of patents.

The draft has suggested "providing statutory incentives, like tax benefits linked to IP creation, for the entire value chain from IP creation to commercialisation".

"Introduce the 'first-time patent' fee waiver and support systems for MSMEs and reduce transaction costs in other ways," the draft said.

To create public awareness about the economic and social benefits of patents for accelerating development and job creation, it has suggested to launch a nation-wide programme.

"Adopt the national slogan 'Creative India; Innovative India' and launch an associated campaign on electronic, print and social media by linking IPRs with other national initiatives such as 'Make in India', 'Digital India', 'Skill India' and 'Smart Cities'," it said.

The draft report has been put on DIPP's website for public comments.

"Review and update IP related rules, procedures, practices and guidelines for clarity, simplification, streamlining, transparency and time bound processes in administration and enforcement of IP rights," the draft said.

It also suggested restructuring and upgrading patent offices besides augmenting manpower.

Establishing an IP Promotion & Development Council (IPPDC) as the nodal body for the promotion, creation and commercialisation of IP assets is another recommendation.

It has also suggested providing financial support to less-empowered groups of IP owners or creators like farmers, weavers, artisans and craftsmen through financial institutions like rural banks or cooperative banks offering IP friendly loans.

"Technology Acquisition and Development Fund under the Manufacturing Policy will be utilized for licensing or procuring patented technologies," it said adding manufacturing units will be encouraged to set up IP cells in their own units and make IP an integral part of their corporate strategies.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions