Question 1

Does transfer pricing documentation has to be prepared annually?

Accepted Answer

Transfer pricing documentation has to be prepared annually, as per the Indian Transfer Pricing regulations. Full transfer pricing documentation, including an update of the functional analysis and fresh economic analysis using contemporaneous data, must be maintained, in case the total value of international transaction is more than INR 10 million and/or aggregate value of specified domestic transactions exceed INR 200 million.

Question 2

What are the penal consequences for non-compliance with the Indian Transfer Pricing regulations?

Accepted Answer

In case of failure to maintain Transfer Pricing documentation, failure to report the transaction, maintenance or furnishing of incorrect information/document, there is a penalty of 2% of the value of each international/specified domestic transaction.

Question 3

What are the penal consequences for under-reporting or misreporting of income?

Accepted Answer

The penal consequences for non-compliance with Indian transfer pricing regulations are as follows in case of under-reporting or misreporting of income:


	A sum equal to 50% of the amount of tax payable on under-reported income
	A sum equal to 200% of the amount of tax payable on under-reported income where under-reported income is in consequence of any misreporting

Question 4

What are the scenarios under which Form FC-TRS is required to be filed?

Accepted Answer

Form FC-TRS shall be required to be filed within sixty days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier, under the following scenarios for transfer of capital instruments by way of sale:


	From a person resident outside India holding capital instruments in an Indian company on a repatriable basis to a person resident outside India holding capital instruments on a non-repatriable basis
	From a person resident outside India holding capital instruments in an Indian company on non-repatriable basis to a person resident outside India holding capital instruments on repatriable basis
	From a person resident outside India holding capital instruments in an Indian company on repatriable basis to a person resident in India
	From a person resident in India holding capital instruments in an Indian company to a person resident outside India holding capital instruments on repatriable basis
	By a person resident outside on a recognized stock exchange

Question 5

Does Indian transfer pricing law have an Advance Pricing Agreement (APA) program?

Accepted Answer

APA is a binding agreement between the taxpayer and tax authority to determine in advance, a set of criteria that would govern the transfer prices for covered inter-company transactions for a fixed period of time.

The APA regime has been introduced in India effective 01 July 2012. The APA rules provide an option for taxpayers to seek a unilateral, bilateral or multilateral APA. It can be valid for up to five years and additionally for a period of four consecutive previous years.

The APA filing process includes an optional pre-filing submission, the filing of the APA request, negotiation of the APA, execution and monitoring. Taxpayers are required to prepare and file an annual compliance report for each year under the APA. It helps that taxpayer in attaining certainty on the transfer price adopted and assists in mitigating the risks of litigation for the period covered under APA.

Question 6

What are safe harbor rules under the Indian transfer pricing regulations?

Accepted Answer

Safe harbor rules is a mechanism under which in certain circumstances tax authorities accept the transfer prices declared by tax payer without undertaking detailed audit. The tax authorities have introduced rules prescribing procedure for adopting safe harbor, the transfer price to be adopted, the compliance procedures upon adoption of safe harbor and the circumstances in which a safe harbor adopted may be held to be invalid.

The categories of international transactions covered under the safe harbor provisions include:


	Provision of software development services
	Provision of IT enabled services
	Provision of knowledge process outsourcing services
	Advancing of intra-group loans
	Provision of corporate guarantee
	Provision of contract research and development services
	Manufacturing and export of auto components
	Receipt of low value adding intragroup services

Question 7

Is there a statutory deadline for submission of transfer pricing documentation?

Accepted Answer

An accountant’s report in Form 3CEB must be furnished along with the Income Tax Return, i.e., (on or before 30 November following the end of the financial year under consideration). With respect to the transfer pricing documentation, the taxpayer is required to maintain the same before furnishing Form 3CEB. However, there is no requirement of furnishing the transfer pricing documentation along with accountant’s report/Form 3CEB at the time of filing tax return.

Question 8

Is there a requirement for a fresh benchmarking analysis every year vs roll-forward/ update of the financials?

Accepted Answer

A fresh benchmarking search needs to be conducted every year. According to Rule 10D(4), “The information and documents specified under [sub-rules (1), (2) and (2A)], should, as far as possible, be contemporaneous and should exist latest by the specified date referred to in clause (iv) of section 92F.”

Question 9

What are the different methods to calculate arm’s length price?

Accepted Answer

The various methods to calculate the arm’s length price with respect to an international/specified transaction are as under:


	Comparable uncontrolled price method (CUP)
	Resale price method (RPM)
	Cost plus method (CPM)
	Profit Split Method (PSM)
	Transactional net margin method (TNMM)
	Other Method as prescribed by the Board (CBDT)

Question 10

What is the materiality limits/threshold for preparing and maintaining transfer pricing (TP) documentation?

Accepted Answer

The annual TP documentation is required to be maintained if the aggregate value of all international transactions during the relevant financial year exceeds INR 10 million (approximately US$156,250) and/or specified domestic transactions during the relevant financial year exceed INR 200 million (US$3,125 million).

The economic analysis is required to be maintained to justify the arm’s length character of the international transaction, irrespective of the transaction value threshold.

Question 11

What is the meaning of arm's length price?

Accepted Answer

Arm's length price is the price which is applied or proposed to be applied to transactions between persons other than the Associated Enterprises in uncontrolled conditions.

Question 12

What are the documents required to be maintained by a company while executing an international transaction?

Accepted Answer

Transfer pricing documentation requirements are provided under Section 92D of the Act and Rule 10D of the Income-tax Rules, 1962 (Rules).

The categories of documentation required are:


	Ownership structure
	Profile of the multinational group
	Business description
	Nature and terms (including prices) of international transactions
	Description of functions performed, risks assumed and assets employed
	Record of any financial estimates
	Record of uncontrolled transaction with third parties and a comparability evaluation
	Description of methods considered
	Reasons for rejection of alternative methods
	Details of transfer pricing adjustments
	Any other information or data relating to the associated enterprise that may be relevant for determining the arm’s-length price


A list of additional optional documents is provided in Rule 10D(3).

In addition, the taxpayer is required to obtain and furnish an Accountant’s Certificate (Form 3CEB) regarding maintenance of documentation. This has to be filed irrespective of the transaction value.

Question 13

Do the transfer pricing rules apply in respect of transactions between head office (HO) and a branch office/project office?

Accepted Answer

Where a foreign enterprise has a BO/PO in India, the BO/PO would constitute a non-resident for Indian tax purposes and a separate enterprise under Section 92F(iii) of the Act. Accordingly, the transaction between the BO/PO and the HO will constitute as an international transaction under section 92B of the Act and will be required to meet the arm’s length criteria from an Indian transfer pricing perspective.

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Question 14

Is a Liaison Office (LO) in India of Foreign corporation subject to TP Provisions?

Accepted Answer

The residential status of LO in India of an enterprise outside India is that of a “non-resident” for Indian tax purposes. Since the LO is not taxable in India as they do not indulge in income generating activities, transfer pricing provisions are not applicable for LO. However, if a LO constitutes a PE in India, it will be subject to tax in India and will be subject to an appropriate attribution of profit generated by the foreign enterprise from its operations in India.

Question 15

When do the transfer pricing regulations apply to an enterprise?

Accepted Answer

An enterprise is required to comply with the transfer pricing regulations when:


	The taxpayer has entered into an international transaction or a specific domestic transaction (within India)
	With an associated enterprise outside India, (international transaction) or within India (specific domestic transaction)

Question 16

Which transaction is classified as “international transaction”?

Accepted Answer

The term international transaction as defined under Section 92B of the Act as:


	Purchase, sale or lease of tangible or intangible property
	Provision of services
	Lending or borrowing of money or capital financing, including any type of long-term or short-term borrowing, lending or guarantee; purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable; or any other debt arising during the course of business
	A mutual agreement or arrangement for cost allocation or apportionment
	A transaction of business restructuring or reorganization
	Any other transaction having a bearing on the profits, income, losses or assets of such enterprises

Question 17

When are the taxpayers required to file accountant's report specified in Section 92E of the Income - tax Act, 1961?

Accepted Answer

All the taxpayers are mandatorily required to file an accountant's report prepared by an independent professional through Form No. 3CEB for all international transactions irrespective of the value of international transactions and specified domestic transactions if the value exceeds INR 20 crore in a financial year.

Question 18

When are the taxpayers required to prepare Transfer Pricing (TP) Documentation as per Rule 10D of the  Income - tax Rules, 1962?

Accepted Answer

Taxpayers indulging in any international or specified domestic transactions are required to maintain a set of documents specified in Rule 10D of the Income - tax Rules, 1962. The transfer pricing documentation shall be required if the value of international transactions exceeds INR 1 crore and specified domestic transactions exceed INR 20 crore in a financial year.

Question 19

What are the different types of methods which can be applied for computing arm's length price?

Accepted Answer

As per Section 92C of the Income - tax Act, 1961, the following methods can be used for computing arm's length price: 
a) Comparable Uncontrolled Price (CUP) Method 
b) Resale Price Method (RPM) 
c) Cost Plus Method (CPM) 
d) Profit Split Method (PSM) 
e) Transactional Net Margin Method (TNMM) 
f) Any Other Method

Question 20

What are Associated Enterprises (AEs)?

Accepted Answer

Section 92A of the Income - tax Act, 1961 specifies that two or more enterprises become associated enterprises when one of them participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise(s). 

For further details, please access the following link.

Question 21

How long I have to wait to get my work to get registered by the Copyright office?

Accepted Answer

After you file your application and receive diary number you have to wait for a mandatory period of 30 days so that no objection is filed in the Copyright office against your claim. In case any objection is filed, the Registrar of Copyrights after giving an opportunity of hearing to both the parties, may decide to register the work or otherwise.

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Question 22

How can I get copyright registration for my Website?

Accepted Answer

A website may be understood as a web-page or set of interconnected web-pages, hosted or stored on a server, and is made available online to members of public. Users can access the information and other underlying work on a website through various means such as scrolling web-pages, using internal hypertext links or a search feature.

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Question 23

Whether unpublished works are registered?(Under the Copyright Act 1957)

Accepted Answer

Yes. Both published and unpublished works can be registered. Copyright in works published before 21st January, 1958, i.e., before the Copyright Act, 1957 came in force, can also be registered, provided the works still enjoy copyright. Three copies of published work may be sent along with the application. If the work to be registered is unpublished, a copy of the manuscript has to be sent along with the application for affixing the stamp of the Copyright Office in proof of the work having been registered. In case two copies of the manuscript are sent, one copy of the same duly stamped will be returned, while the other will be retained, as far as possible, in the Copyright Office for record and will be kept confidential. It would also be open to the applicant to send only extracts from the unpublished work instead of the whole manuscript and ask for the return of the extracts after being stamped with the seal of the Copyright Office. When a work has been registered as unpublished and subsequently it is published, the applicant may apply for changes in particulars entered in the Register of Copyright in Form V with prescribed fee.The process of registration and fee for registration of copyright is same.

For further details please access following link.

Question 24

Can a computer software be registered under the copyright act?

Accepted Answer

Yes. Computer Software or programme can be registered as a ‘literary work’. As per Section 2 (o) of the Copyright Act, 1957 “literary work” includes computer programmes, tables and compilations, including computer databases. ‘Source Code’ and “Object Code” have also to be supplied along with the application for registration of copyright for software products.

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Question 25

If a copyright is rejected, is there any opportunity given for hearing the case?

Accepted Answer

As per the rule 70 (12) of the Copyright Rules, 2013, an opportunity of hearing must be given. Only after hearing, it may be decided to register the work or to reject it. The applicant himself or his/her pleader may appear in the hearing.

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Question 26

What are the guidelines regarding registration of a work under the Copyright Act 1957?

Accepted Answer

Chapter XIII of the Copyright Rules, 2013, as amended, sets out the procedure for the registration of a work. Copies of the Act and Rules can be obtained from the Manager of Publications, Publication Branch, Civil Lines, Delhi or his authorized dealers on payment or download from the Copyright Office web-site, link.

Question 27

Can an individual file for registration of copyright of a work without professional assistance?

Accepted Answer

Yes. Any individual who is an author or rights owner or assignee or legal heir can file application for copyright of a work either at the copyright office or by post or by e-filing facility from the copyright Office web-site "www.copyright.gov.in"

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Question 28

What is the fee for getting work registered under the copyright act?

Accepted Answer

The fee is not reimbursable in case of rejection of the application. The fee can be paid by postal order/demand draft/online payment payable to “registrar of copyrights, New Delhi. 

For information on the fee for getting work registered under the copyright act, click here

Question 29

Where can I file application for registration of copyright for a work?

Accepted Answer

The Copyright Office has been set up to provide registration facilities to all types of works and is headed by a Registrar of Copyrights and is located at 4th Floor Jeevan Deep Building, New Delhi- 110 001. The applications for registration of works can be filled at the counter provided at the Copyright Office from 2.30 P.M. to 4.30. P.M. from Monday to Friday. The applications are also accepted by post. On-line registration through “E-filing facility “has been provided from 14th February 2014, which facilitates the applicants to file applications at the time and place chosen by them.

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Question 30

What is the procedure for registration of a work under the Copyright Act, 1957?

Accepted Answer

The procedure for registration is as follows:
 1) Application for registration is to be made on Form
 2) Separate applications should be made for registration of each work.
 3) Each application should be accompanied by the requisite fee prescribed in the second schedule to the Rules.
 4) The applications should be signed by the applicant or the advocate in whose favour a Vakalatnama or Power of Attorney has been executed.
 5) The fee is either in the form of Demand Draft, Indian Postal Order favouring ‘Registrar Of Copyright Payable At New Delhi’ or through E-payment

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Question 31

Is it necessary to register a work to claim copyright?

Accepted Answer

No. Acquisition of copyright is automatic and it does not require any formality. Copyright comes into existence as soon as a work is created and no formality is required to be completed for acquiring copyright.

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Question 32

What is copyright?

Accepted Answer

Copyright is a right given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings. In fact, it is a bundle of rights including, inter alia, rights of reproduction, communication to the public, adaptation and translation of the work. There could be slight variations in the composition of the rights depending on the work.

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Question 33

What does Intellectual Property entail?

Accepted Answer

Intellectual Property is the Property, which has been created by exercise of Intellectual Faculty. It refers to creation of mind such as inventions, designs for industrial articles, literary, artistic work, symbols which are ultimately used in commerce. Intellectual Property rights allow the creators or owners to have the benefits from their works when these are exploited commercially. These rights are statutory rights governed in accordance with the provisions of corresponding legislation. Intellectual Property rights reward creativity & human endeavour which fuel the progress of humankind.The intellectual property is classified into seven categories i.e.


	Patent
	Industrial Design
	Trade Mark
	Copyright
	Geographical Indications
	Lay put designs of integrated circuits
	Protection of undisclosed information/Trade Secret according to TRIPs agreements


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Question 34

What is the scope of protection in the Copyright Act, 1957?

Accepted Answer

The Copyright Act, 1957 protects original literary, dramatic, musical and artistic works and cinematograph films and sound recordings from unauthorized uses. Unlike the case with patents, copyright protects the expressions and not the ideas. There is no copyright protection for ideas, procedures, methods of operation or mathematical concepts as such (Please see Article 9.2. of TRIPS).

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Question 35

Is it allowed to get names and titles copyrighted?

Accepted Answer

Copyright does not ordinarily protect titles by themselves or names, short word combinations, slogans, short phrases, methods, plots or factual information. Copyright does not protect ideas or concepts. To get the protection of copyright a work must be original.

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Question 36

When does the applicant for Registration of Design get the registration certificate?

Accepted Answer

When an application for registration of a Design is in order, it is accepted and registered and then a certificate of registration is issued to the applicant. However, a separate request should be made to the Controller for obtaining a certified copy of the certificate for legal proceeding with requisite fee.

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Question 37

How to get information on registration of design?

Accepted Answer

After registration of designs the best view of the article along with other bibliographic data will be notified in the Official Journal of The Patent Office, which is being published on every Friday.

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Question 38

What is the penalty for using a registered design under the design act?

Accepted Answer

If anyone contravenes the copyright in a design, he is liable for every offence to pay a sum not exceeding INR25,000/- to the registered proprietor subject to a maximum of INR50,000/- recoverable as contract debt in respect of any one design.

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Question 39

What is piracy of a design?

Accepted Answer

If anyone contravenes the copyright in a design, s/he is liable for every offence to pay a sum not exceeding Rs. 25,000/- to the registered proprietor subject to a maximum of Rs. 50,000/- recoverable as contract debt in respect of any one design. The registered proprietor may bring a suit for the recovery of the damages for any such contravention and for injunction against repetition of the same.

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Question 40

How one can ascertain whether registration subsists in respect of any design?

Accepted Answer

For ascertaining whether registration subsists in respect of a design, a request should be made to the Patent Office, Kolkata. If the Design number is known, the request should be made on Form 6, otherwise on Form 7, together with prescribed fees. Each such request should be confined to information in respect of a single design.

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Question 41

Is it possible to re-register a design for which Copyright has expired?

Accepted Answer

No. A registered design, the copyright of which has expired, cannot be re-registered.

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Question 42

What is the date of registration under the Design Act, 2000?

Accepted Answer

The date of registration, except in case of priority, is the actual date of filing of the application. In case of registration of design with priority, the date of registration is the date of making an application in the respective country.

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Question 43

What is the duration of the registration of a design? Can it be extended?(Under The Design Act 2000)

Accepted Answer

The duration of the registration of a design is initially ten years from the date of registration, but in cases where claim to priority has been allowed the duration is ten years from the priority date. This initial period may be extended by 5 years on an application made in Form-3 accompanied by prescribed fees to the Controller before the expiry of the said initial period of ten years. The proprietor of a design may make application for such extension even as soon as the design is registered.

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Question 44

What is the effect of registration of design?

Accepted Answer

The registration of a design confers upon the registered proprietor ‘Copyright’ in the design for the period of registration. ‘Copyright’ means the exclusive right to apply a design to the article belonging to the class in which it is registered.

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Question 45

Whether it is possible to transfer the right of ownership for a design under The Design Act 2000?

Accepted Answer

Yes, it is possible to transfer the right through assignment, agreement, transmission with terms and condition in writing or by operation of law. However, certain restrictive conditions not being the subject matter of protection relating to registration of design should not be included in the terms and condition of the contract/agreement etc.

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Question 46

Can stamps. Labels, tokens, cards be considered an article for the purpose of registration of Design?

Accepted Answer

No. Because once the alleged Design i.e., ornamentation is removed only a piece of paper, metal or like material remains and the article referred ceases to exist. Article must have its existence independent of the Designs applied to it.

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Question 47

What is the object of registration of Designs under the Design Act?

Accepted Answer

Object of the Design Act is to protect new or original designs so created to be applied or applicable to particular article to be manufactured by Industrial Process or means.

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Question 48

What is defined as an article under the Designs Act?

Accepted Answer

Under the Designs Act, 2000 the "article" means any article of manufacture and any substance, artificial, or partly artificial and partly natural; and includes any part of an article capable of being made and sold separately.

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Question 49

What is meant by ‘Design’ under the Designs Act, 2000?

Accepted Answer

‘Design’ means only the features of shape, configuration, pattern or ornament or composition of lines or colour or combination thereof applied to any article whether two dimensional or three dimensional or in both forms, by any industrial process or means, whether manual, mechanical or chemical, separate or combined, which in the finished article appeal to and are judged solely by the eye, but does not include any mode or principle or construction or anything which is in substance a mere mechanical device, and does not include any trade mark.

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Question 50

Is it possible to transfer the right of ownership under the Designs Act, 2000?

Accepted Answer

Yes, it is possible to transfer the right through assignment, agreement, transmission with terms and condition in writing or by operation of law subject to certain restrictive conditions. An application in form-10, with prescribed fees in respect of one design and appropriate fees for each additional design, for registration of the transfer documents is required to be made by the beneficiary to the Controller within six months from the date of execution of the instruments or within further period not exceeding six months in aggregate. An original/notarized copy of the instrument to be registered is required to be enclosed with the application.

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Question 51

What is the most appropriate time for filing the registration of designs?

Accepted Answer

First-to-file rule is applicable for registrability of design. If two or more applications relating to an identical or a similar design are filed on different dates only first application will be considered for registration of design.

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Question 52

What is design registration in India?

Accepted Answer

Object of the Designs Act is to protect new or original designs so created to be applied or applicable to particular article to be manufactured by Industrial Process or means. Design Registration is a means to ensure that the artisan, creator, originator of a design having aesthetic look is not deprived of his bonafide reward by others applying it to their goods.

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Question 53

What are the important criteria for determining a "set of article"?

Accepted Answer

If a group of articles meets the following requirements then that group of articles may be regarded as a set of articles under the Designs Act, 2000:

• Ordinarily on sale or intended to be used together

• All having common design even though articles are different (same class)

• Same general character

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Question 54

What is meant by priority claim under the Designs Act, 2000?

Accepted Answer

India is one of the countries party to the Paris Convention so the provisions for the right of priority are applicable. On the basis of a regular first application filed in one of the contracting state, the applicant may within the six months apply for protection in other contracting states, latter application will be regarded as if it had been filed on the same day as the first application.

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Question 55

How can the lapsed design be restored owing to non-payment of extension within the stipulated time?

Accepted Answer

A registration of design will cease to be effective on non-payment of extension fee for further term of five years if the same is not paid before the expiry of original period of 10 years. However, lapsed designs may be restored provided the following conditions are satisfied:


	Application for restoration in Form-4 with prescribed fees is filed within one year from the date of lapse stating the ground for such non-payment of extension fee with sufficient reasons
	If the application for restoration is allowed the proprietor is required to pay the prescribed extension fee and requisite additional fee and finally the lapsed registration is restored


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Question 56

Can the name and address of proprietor be changed in the design register?

Accepted Answer

Name and address of the registered proprietor, or address for service can be altered in the register of designs provided this alteration is not made by way of change of ownership through conveyance i.e. deed of assignment, transmission, licence agreement or by any operation of law. Application in form-22 with prescribed fee should be filed to the Controller of Designs with all necessary documents in support of the application as required.

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Question 57

Are the registered designs open for public inspection?

Accepted Answer

Yes, registered designs are open for public inspection only after publication in the official journal on payment of prescribed fee on a request in Form-5.

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Question 58

What purpose does marking the article to a registered design serve?

Accepted Answer

Yes, it would be always advantageous to the registered proprietors to mark the article so as to indicate the number of the registered design except in the case of Textile designs. Otherwise, the registered proprietor would not be entitled to claim damages from any infringer unless the registered proprietor establishes that the registered proprietor took all proper steps to ensure the marking of the article, or unless the registered proprietor show that the infringement took place after the person guilty thereof knew or had received notice of the existence of the copyright in the design.

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Question 59

Is there a possibility of cancelling the registration of a design?

Accepted Answer

The registration of a design may be cancelled at any time after the registration of design on a petition for cancellation in Form 8 with prescribed fee to the Controller of Designs on the following grounds:


	That the design has been previously registered in India.
	That it has been published in India or elsewhere prior to date of registration.
	The design is not new or original.
	Design is not registerable.
	It is not a design under Clause (d) of Section 2


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Question 60

Is it mandatory to make the article by industrial process or means before making an application for registration of design?

Accepted Answer

No, design means a conception or suggestion or idea of a shape or pattern which can be applied to an article or capable to be applied by industrial process or means. Example: a new shape which can be applied to a pen thus capable of producing a new appearance of a pen on the visual appearance. It is not mandatory to produce the article first and then make an application.



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Question 61

Why is it important to file the application for registration of design at the earliest possible?

Accepted Answer

First-to-file rule is applicable for registrability of design. If two or more applications relating to an identical or a similar design are filed on different dates only first application will be considered for registration of design.

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Question 62

Can the same applicant make an application for the same design again, if the prior application has been abandoned?

Accepted Answer

Yes, the same applicant can apply again since no publication of the abandoned application is made by the Patent Office, provided the applicant does not publish the said design in the meanwhile.

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Question 63

Can the application for registration of design be filed by the applicant himself only or through a professional person under the Design Act 2000?

Accepted Answer

The application for registration of design can be filed by the applicant himself or through a professional person (i.e. patent agent, legal practitioner). However, for the applicants not resident of India an agent residing in India has to be employed.

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Question 64

How does a registration of design stop other people from exploiting?

Accepted Answer

Once a design is registered, it gives the legal right to bring an action against those persons (natural/legal entity) who infringe the design right, in the Court not lower than District Court in order to stop such exploitation and to claim any damage to which the registered proprietor is legally entitled.

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Questions?

The amended provisions of the Stamp Act and Rules made thereunder will come into force from which date?

Which instruments are covered under Part AA of Chapter II of the amended Stamp Act and the Rules made thereunder?

Who will collect the Stamp Duty on behalf of the State Government?

What is the manner of collection of stamp duty under new system?

When and how will the stamp duty be transferred to each State?

What would be the fees for the collecting agent?

How will the State Government communicate regarding stamp duty matter?

What if collecting agents fails to transfer the duty to the State Government within the time period specified in the Stamp Act and Rules made thereunder?

Will any information be provided to the State Government in respect of the stamp duty collected?

Can collecting agents utilise amount collected on behalf of States for any other purpose?