March 2024


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Section 51 – THE INDIAN CONTRACT ACT, 1872

Promisor not bound to perform, unless reciprocal promisee ready and willing to perform When a contract consists of reciprocal promises to be simultaneously performed, no promisor need perform his promise unless the promisee is ready and willing to perform his reciprocal promise.Illustrations(a) A and B contract that A shall deliver goods to B to be paid for by B on delivery.A need not deliver the goods, unless B is ready and willing to pay for the goods on delivery.B need not pay for the goods, unless A is ready and willing to deliver them on payment.(b) A and B contract that A shall deliver goods to B at a price to be paid by instalments, the first instalment to be paid ondelivery.A need not deliver, unless B is ready and willing to pay the first instalment on delivery.B need not pay the first instalment, unless A is ready and willing to deliver the goods on payment of the first instalment Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

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Designs Registration

A design is defined under Section 2(d) of the Designs Act 2001, as only the features of a shape, pattern, configuration, composition, or ornament of lines or colors that are applied to any article that is two dimensional, three dimensional, or both by an industrial process or any means whether mechanical, manual or chemical, separated or combined, Design registration offers a shield for your unique design, classifying it as intellectual property and ensuring it’s safe from imitation. It grants the creator exclusive rights to use the design for a decade, possibly extending it for an additional five years. Design Registration – Governing Law The Designs Act, 2000, governs design registration and protection in India, and the subsequent Design Rules were introduced in 2001. The introduction of the Designs Act in 2000 served to repeal and supplant the earlier Act from 1911. The Design Rules of 2001 have undergone amendments, with significant changes made by the Designs (Amendment) Rules in 2008 and 2014. A noteworthy update in the rules under this Act has been the addition of a new applicant category. This n Advantages of Design Registration in India Exclusive rights over the new and original design An asset of the proprietor/owner Can initiate a legal proceeding in case of infringement by a third-party Serve as a prima facie evidence in an infringement suit Right to sell, transfer and license the design with ease Basic Requirements of Design Registration Innovation Element- The design should possess a fresh and unique aspect. Only designs with this innovative trait are eligible for registration. Furthermore, combinations of existing designs can be considered, but only if the result presents a distinct visual appeal. Originality and Non-disclosur- The design must be one-of-a-kind and not previously exposed to the public, either within India or internationally. This means it shouldn’t have been previously published, used, or disclosed in any manner. Application to an Object- The design must be attached or applicable to a specific product or object. A standalone design, without relevance to an item, cannot be registered. Alignment with Public Values and National Security:- The design should not be in conflict with public morals, sentiments, or the security of India. Designs deemed inappropriate by the government or other authoritative bodies won’t qualify for registration. It’s essential that the design can be registered under section 5 of the Design Act, 2000. It’s important to ensure these criteria are met when seeking registration under the English language provisions of the Design Act, 2000. Exclusions from Design Registration:- Design registration has certain exclusions and does not encompass everything. The following are explicitly excluded from the purview of design registration: Literary or Artistic Work: Unlike copyright protection, design registration doesn’t cover literary or artistic creations such as books, calendars, stamps, and tokens. Buildings and Structures: Architectural works, including buildings and other structures, are not eligible for design registration. Geographical Representations: Maps are excluded from the scope of design registration. National Symbols: Designs that imitate or resemble national flags, emblems, or official signs of any country are not allowed for registration. Who can Apply for Design Registration? The following type of Persons can apply for Design Registration: Applicants: Individuals, their legal representatives, or assignees can apply either individually or jointly for design registration. Definition of Person: The term “person” encompasses a variety of entities, including firms, partnerships, small entities, and corporate bodies. Non-Resident Indians (NRIs): For NRIs, the application for Design Registration should be made through their agent or legal representative. All provisions should be understood and complied with as per the English language stipulations for the Design Registration process. Documents Required for Design Registration in India: Applicant’s Details: Name and complete address of the applicant. Applicant’s Nature/Status: Clear indication of the legal status of the applicant, specifying whether the applicant is an individual, a company, etc. Startup Certificate (if applicable): Startups must provide a registration certificate. Description of the Article: A detailed description of the ‘article’ to which the design pertains, accompanied by its classification according to the prescribed categories. Visual Representation: A minimum of four visuals (images or drawings) showing the article from all angles should be included with the application. Procedure for Design Registration in India Design Search Start by conducting a comprehensive search of existing designs to confirm the novelty and uniqueness of your design. This helps in evading possible infringement complications. Application Preparation and Filing The application for design registration will be drafted and filed, incorporating all requisite documents as mentioned above. Application Examination Post-submission, the Indian Design Office will scrutinize your application, ensuring it adheres to all mandatory stipulations. Official Gazette Publication Upon acceptance of your application, the design is published in the official gazette. This publication offers the general public an opportunity to voice any objections concerning the proposed design registration. Registration Approval If no objections arise, or if raised objections are successfully addressed, the Indian Design Office will bestow the design registration. A certificate confirming the registration will be provided, holding validity for a decade. Registration Renewal Following the initial tenure of 10 years, the design registration can be extended for an additional five years. FAQs What is design registration? Design registration protects the unique visual appearance of products, granting exclusive rights to the creator for 10 years, extendable by 5 more years. What law governs design registration in India? The Designs Act, 2000, and the subsequent Design Rules, 2001, along with amendments in 2008 and 2014, govern design registration in India. How is a ‘design’ defined under the Designs Act, 2001? A ‘design’ under this act includes the shape, pattern, configuration, or ornamentation that gives a product its unique appearance and visual appeal. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam

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ESIC Online Payment

The Employees’ State Insurance (ESIC) Scheme aims to provide hassle-free services to both employers and employees through its information and services portal. As part of this effort, all filing and payments are done through an online portal. Employers can remit monthly ESIC contributions through the portal. ESIC Monthly Contribution Rate Currently, the employee’s contribution rate is 1.75% of the wages, and the employer’s contribution is 4.75% of the wages paid or payable in respect of the employees in every wage period. For newly implemented areas/firms, the contribution rate is 1% of wages of Employee and 3% payable by Employers for the first two years. Employees in receipt of the daily average wage up to Rs.137/- are exempted from payment of contribution. Employers will, however, contribute their share in respect of these employees. Due Date for Payment of Monthly Contribution If ESIC monthly contribution due for a particular month is Rs.1000/- an employer has created an offline system generated Challan for the payment towards Rs.1000/-, then the employer cannot make an online payment towards the same even if the earlier challan is not deposited or unrealised.  If ESIC monthly contribution due for a particular month is Rs.1000/- an employer has created an Offline System Generated Challan for payment towards Rs.700/- which is not realised, then the Employer can make Online Payment towards only the remaining amount, i.e. Rs 300/. The employer has initiated an Online Payment for Rs 200 against total dues of Rs 1000. If the transaction fails, the employer cannot modify the challan amount during Online Double Verification. The employer has first to complete this transaction and then can do another transaction to make balance payment of Rs 800. Procedure for ESIC Online Payment of Monthly Contribution Step 1: Login to the ESIC portal using the user ID and Password which is provided during the Registration. Step 2: After successful login, the above page as depicted in the image will be displayed with hyperlinks under each module which again redirects to specific sections. Step 3: The user can file the monthly contribution using the “Online Monthly contribution Screen. Step 4: On clicking on this option, “preview” page will be displayed. Step 5: For submitting the monthly contribution details to ESIC click on the “Submit” button. Step 6: The employer can manually type the contribution against each employee or can upload an excel file as an attachment to bulk upload. This is quite user-friendly for bulk data. Step 7: After submission, the user can make the MC online payment via respected bank internet banking by clicking on Pay online option. Step 8: Click on the “ok” option to proceed further with the online payment. Step 9: Please note down the Challan number for future reference. Click on the continue to proceed for the payment; this will redirect to SBI bank online payment page. Step 10: As soon as you proceed for payment, it will be redirected to the banking site where online payment is made. The user needs to provide net banking credentials for making the payment. Step 11: In case the user paid monthly contribution via SBI, the following screen will be displayed after clicking on the confirm button, which shows the success page. Generate Challan Online The following steps need to be performed to generate the challan online. Step 12: After login to the portal, click generate Challan link, the screen will be redirected to a new page, click on view button. Step 13: The records against which the payment is to be made by the employers should be selected, provide the amount users want to pay. Step 14: Select the online option and click on the submit button. A message will be displayed, and the user should click on the OK option on the message. Verify the Payment Step 15: Select the last button on the right side, which shows as Online Challan Double verification. Step 16: Double verification of Challan page will be shown. Now provide the Employer’s code number and challan number in the text box and click on submit. Step 17: You can print the success page by clicking on the Print option. Processing the Failed Transaction Reason for Failed Transaction The transaction can be failed due to the following reasons: Transaction failing due to connectivity issues Funds shortage User forgot the login id and password Failure of the ESIC site in redirecting the online SBI payment page Transaction unsuccessful due to link issue The failed transaction can be processed by clicking on the Online Challan Double verification link. In the Challan number text box, provides the Challan number and click submit button to continue the failed transaction. Now the Challan number and the amount will be displayed where the user requires to make payment by clicking on the make payment to connect to respective bank net banking. FAQs Who needs to make ESIC online payments? Employers are required to make ESIC online payments. They need to contribute a percentage of their employees’ salaries to the ESIC fund to provide them with social security benefits. How can I make ESIC online payments? You can make ESIC online payments through the official ESIC portal. Employers need to log in, enter the required details such as the number of employees, and make the payment using online banking methods. What are the benefits of making ESIC online payments? ESIC online payments offers convenience, speed, and efficiency. It allows employers to fulfill their legal obligations seamlessly and ensures timely contributions to the ESIC fund for the welfare of employees. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company |

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Product market fit : pmf

product idea and conducting product research to create a Minimum Viable Product (MVP). You release it to a small sample of your target audience and receive great feedback. But when you launch the full version of the product to the market, disaster strikes: the reviews tank, and so do sales. This is a common scenario in the product world and happens for one significant reason: not achieving successful product-market fit. What is Product-Market Fit? Product-market fit describes a scenario in which a company’s target customers are buying, using, and telling others about the company’s product in numbers large enough to sustain that product’s growth and profitability. who is often credited with developing the concept, product-market fit means finding a good market with a product capable of satisfying that market. Why is it Important? (1) Product-market fit is not a static condition. (2) The bulk of activity within any company is oriented around refining or building on their product-market fit, whether the company describes what it’s doing in those terms or not. The word “fit” is misleading. It sounds like arrival at a destination. Or a target you achieved at launch. It’s better to think of PMF as a process that can continually be refined. It’s an alignment, not an event. It’s more like market-product synchronicity. Adapting to evolving customer needs is an iterative process that never ends. What are some basic tenets of Product-Market Fit? PMF is vital at every level, from startup to enterprise.- At all stages of development, the degree of Product-Market Fit you’ve established captures your success at offering a product that will meet an audience’s needs so much that they’re willing to pay you for it. What counts as PMF changes as you add new features, reach out to new audiences, or change your messaging. PMF-finding is both an art and a science.- Applying creative elements (like your team members’ experience, artistry, and hard-won instincts) to a rigorous scientific method supercharges productivity. Data is the mine, but insights are the gold.-Insights are pieces of knowledge that change the story a company tells about its product, and that lead people to take informed action. The true value of collecting data is in the results it drives. Keep a close eye on your market!- Too many teams over-rotate on product quality, while overlooking the pool of people willing to buy it. Keeping attention on the “M” in PMF gives your users privileged status in your development process. This market research literally pays you back—with sales. Who is Responsible for Product-Market Fit? We generally associate the concept with marketing and product management. In reality, achieving it is a shared responsibility across the company. Sales, business development, support, finance, and all other departments help the company reach this important milestone. What Are Some Best Practices For Pursuing Product-Market Fit? Constantly gather feedback.- Encourage product teams to search for and isolate moments of friction. Many startups fail to notice these and address unexpected correlations. Move rapidly and make many small steps.- Develop your minimum viable product as quickly as possible, then use both your imagination and experience to ask hypothetical questions, run lots of experiments, and gather relevant data. Trust your hunches—then test them! Recognize where improving the product involves more than refining its features.- Things that can get “better” may include your market segmentation, sales cycle, packaging and distribution, and even your business model. How do you measure Product-Market Fit? Survey your customers.- when at least 40% of users would find themselves “very disappointed” to be deprived of your product, you are experiencing PMF. Discover your Net Promoter Score.- Net Promoter Score (NPS) ranks users by their likelihood to buy more product, remain customers long-term, and make the highest number of positive referrals. Know the all-important retention rate!- “Retention rate is the single best metric to measure your product-market fit.” It’s the percentage of your customers who are actively using your product. To calculate it, divide the number of active customers by the total number of customers and multiply by 100 to get a percentage. Retention can be a particularly tricky metric to track. You need to distinguish between new customers and returning ones, and different customers will start (and stop) using your product on different dates. Graphing a retention curve is a way to visualize improvement made over time. And cohort analysis will help you understand long-term retention among your most important user groups. Each high-value user group can be its own “market”, and at any given moment you may have better PMF with certain user groups than with others. FAQs What is Product-Market Fit (PMF)? Product-Market Fit (PMF) is a concept that represents the alignment between a product’s features and the needs and preferences of its target market. It signifies that the product satisfies a real demand in the market. How do you know when you have achieved Product-Market Fit? Product-Market Fit is achieved when a significant number of customers in the target market are not just satisfied but delighted with the product. Positive feedback, high customer retention, and increased demand are indicators of achieving PMF. Why is Product-Market Fit important? Product-Market Fit is crucial because it indicates that a product has found its place in the market and is meeting the needs of its intended audience. It often leads to increased customer satisfaction, loyalty, and business success. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process

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CSR Reporting- CSR-2 as “A New Beginning”

Dynamic world that is becoming complex. Environmental, social, cultural, and economic challenges on a global scale have now become a part of our daily lives. Profit maximisation is no longer the main business performance metric for corporations, but acting as responsible corporate citizens who have a responsibility to society. Companies in India now have a larger duty to establish a defined CSR framework, as to the notion of Corporate Social Responsibility (CSR), which was established by the Companies Act of 2013. The Ministry of Corporate Affairs (MCA) has now mandated that all such companies submit a comprehensive report on their CSR activities in Form CSR-2, which includes details on CSR spending, CSR projects, the creation of capital assets through CSR spend, the CSR Committee, and Polices, etc. What do you mean by CSR- Corporate Social Responsibility? The concept of corporate social responsibility is that a company has a duty to the society and environment in which it exists. A Corporate Social Responsibility (CSR) report is a document that corporations use to explain their CSR activities and their impact on the environment and community to both internal and external audiences. The CRS efforts of an organisation can be divided into four categories: environmental, ethical, charitable, and economic. “Corporate Social Responsibility” covers, but is not limited to, the following under CSR Rules: Projects or programmes that are related to the activities listed in Schedule VII of the Act. Projects or programmes relating to activities undertaken by the Board of Directors of a company in order to ensure the recommendation of the CSR Committee of the Board in accordance with the Company’s declared CSR Policy, subject to the condition that such policy cover subjects specified in Schedule VII of the Act. Applicability for CSR Reporting The minimum requirement for applicability according to Companies Act, 2013 is set under section 135 of the Act.  CSR in the Workplace:  The company’s net worth must be at least Rs 500 crore; or Company’s annual turnover is at least Rs 1000 crore; or The company’s net profit must be at least Rs 5 crore. During the immediate previous financial year, should devote 2% of its average net profit earned over the previous three financial years to CSR initiatives. The Importance of Corporate Social Responsibility for Business External and internal stakeholders can learn about an organization’s mission, activities, and outcomes through CSR reports. Customers, the local community, and society at large are among those who are affected, in addition to workers, decision-makers, and shareholders. CSR enhances a company’s public image by publicising its efforts to make the world a better place, increasing the likelihood of consumers favouring them. It generates more media attention since it casts a favourable light on the organisation. CSR increases the value of a company’s brand by forging a socially strong relationship with its customers. When firms are involved in any form of community, CSR helps them stand out from the competitors. Recent Notification on CSR by MCA The Companies (Accounts) Amendment Rules, 2022, have been amended by the Ministry of Corporate Affairs on February 11, 2022. According to the modified rules, every firm covered by u/s 135 must submit an E-Form CSR-2 report on corporate social responsibility to the Registrar for the prior financial year (2020-2021) and subsequent years. Previously, no form was necessary to submit a CSR report. The government intends to acquire a better understanding of how corporations use their CSR money and the types of activities they arrange through the new reporting format. It is also envisaged that openness would be introduced into the CSR compliance domain. Companies must file Form CSR-2 by March 31, 2022, for the fiscal year 2020-21. “For FY 2021-22 and onwards, the Form CSR-2 shall be filed as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be. Aim of MCA behind CSR-2 “A New Beginning” CSR-2 could be valuable for data mining and analysis by the MCA’s CSR section in order to implement improved policies. This reporting requirement would undoubtedly improve transparency and disclosure of CSR initiatives.  The information gathered through these forms could be useful in order to detect CSR fraud and design effective CSR policies.  However, the revisions to CSR reporting, on the other hand, raise the regulatory burden on businesses and may not accord with the government’s objective of encouraging ease of doing business in India. CSR-2’s broad breadth will also increase the amount of data available to the MCA, which might be used to inform future CSR legislation. Legal Provisions for Non- Filing of CSR If a corporation fails to comply with the laws relating to CSR spending, transferring, and using the unspent funds, it will be fined a minimum of Rs 50,000, with a maximum fine of Rs 25 lakh. Furthermore, all corporate officers who are responsible for the default may face comparable sanctions. The police could face a sentence of up to three years in prison, a fine ranging from 50,000 to 5, 00,000, or both. FAQs What does CSR-2 signify in the context of “A New Beginning”? The term “CSR-2 as ‘A New Beginning’” suggests a renewed or evolved approach to CSR reporting. It could imply a shift in strategy, focus, or methodology in how a company engages with and reports on its social responsibility initiatives. Why is CSR reporting important? CSR reporting is important for transparency and accountability. It allows stakeholders, including investors, customers, employees, and the community, to assess a company’s commitment to social and environmental issues and its overall impact on society. What are the key components of CSR reporting? CSR reports typically include information on a company’s environmental impact, social initiatives, governance practices, employee relations, community involvement, and efforts to contribute to sustainable development. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in

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Listing fee

Listing fee, or insertion fee, is a type of nominal fee, which ecommerce platforms charge from sellers to post (i.e list) their products on the website. Popular examples include such websites as eBay and Amazon and also online auctions like Catawiki. The listing fee depends on the value of a product seller intends to offer on the platform – the higher the price of products the higher the listing fee will be. What Is a Listing Agreement? A listing agreement is a contract under which a property owner (as principal) authorizes a real estate broker (as agent) to find a buyer for the property on the owner’s terms. In exchange for this service, the owner pays a commission. How a Listing Agreement Works A listing agreement authorizes the broker to represent the seller and their property to third parties. The listing agreement is an employment contract rather than a real estate contract: The broker is hired to represent the seller, but no property is transferred between the two.Under the provisions of real estate license laws, only a broker can act as an agent to list, sell, or rent another person’s real estate. In most states, listing agreements must be written.Because the same considerations arise in almost all real estate transactions, most listing agreements require similar information, starting with a description of the property. The description typically includes a list of personal property that will be left with the property when it’s sold, as well as a list of personal property the seller expects to remove (for example, appliances, and window treatments).The listing agreement also specifies the listing price, broker’s duties, seller’s duties, broker’s compensation, terms for mediation, an automatic termination date, and any additional terms and conditions. Types of Listing Agreements Open Listing- With an open listing, a seller retains the right to employ any number of brokers as agents. It’s a nonexclusive type of listing, and the seller is obligated to pay a commission only to the broker who successfully finds a ready, willing, and able buyer. The seller retains the right to sell the property independently without any obligation to pay a commission. Exclusive Agency Listing- With an exclusive agency listing, one broker is authorized to act as the exclusive agent for the seller. The seller retains the right to sell the property without obligation to the broker. However, the seller is obligated to pay a commission to the broker if the broker is the procuring cause of the sale. Exclusive Right-to-Sell Listing- An exclusive right-to-sell listing is the most commonly used contract. With this type of listing agreement, one broker is appointed the sole seller’s agent and has exclusive authorization to represent the property. The broker receives a commission no matter who sells the property while the listing agreement is in effect. FAQs What is a listing fee? A listing fee is a charge imposed by a stock exchange or other financial markets for a company to list its securities (such as stocks or bonds) on that exchange. Why do stock exchanges charge listing fees? Stock exchanges charge listing fees to cover the costs associated with maintaining a fair and orderly market, regulatory compliance, surveillance, and providing services to listed companies. How is the listing fee determined? The listing fee is typically based on various factors, including the size and type of the company, the number of shares to be listed, and the services provided by the stock exchange. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act

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Section 50 – THE INDIAN CONTRACT ACT, 1872

Performance in manner or at time prescribed or sanctioned by promisee The performance of any promise may be made in any manner, or at any time which the promisee prescribes or sanctions.Illustrations(a) B owes A 2,000 rupees. A desires B to pay the amount to A‟s account with C, a banker. B, who also banks with C,orders the amount to be transferred from his account to A‟s credit, and this is done by C. Afterwards, and before A knows of thetransfer, C fails. There has been a good payment by B.(b) A and B are mutually indebted. A and B settle an account by setting off one item against another, and B pays A thebalance found to be due from him upon such settlement. This amounts to a payment by A and B, respectively, of the sums whichthey owed to each other.(c) A owes B 2,000 rupees. B accepts some of A‟s goods in reduction of the debt. The delivery of goods operates as a partpayment.(d) A desires B, who owes him Rs. 100, to send him a note for Rs. 100 by post. The debt is discharged as soon as B puts intothe post a letter containing the note duly addressed to A. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

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Section 49 – THE INDIAN CONTRACT ACT, 1872

Place for performance of promise, where no application to be made and no place fixed for performance When a promise is to be performed without application by the promisee, and no place is fixed for the performance of it, it is the duty of the promisor to apply to the promisee to appoint a reasonable place for the performance of the promise, and to perform it at such place.IllustrationA undertakes to deliver a thousand maunds of jute to B on a fixed day. A must apply to B to appoint a reasonable place forthe purpose of receiving it, and must deliver it to him at such place. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

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Section 48 – THE INDIAN CONTRACT ACT, 1872

Application for performance on certain day to be at proper time and place When a promise is to be performed on a certain day, and the promisor has not undertaken to perform it withoutapplication by the promisee, it is the duty of the, promisee to apply for performance at a proper place andwithin the usual hours of business. Explanation.—The question “what is a proper time and place” is, in each particular case, a questionof fact Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

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Section 47 – THE INDIAN CONTRACT ACT, 1872

Time and place for performance of promise, where time is specified and no application to be made When a promise is to be performed on a certain day, and the promisor has undertaken to perform it without application by the promisee, the promisor may perform it at any time during the usual hours of business on such day and at the place at which the promise ought to be performed.IllustrationA promises to deliver goods at B‟s warehouse on the first January. On that day A brings the goods to B‟s warehouse, butafter the usual hour for closing it, and they are not received. A has not performed his promise Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

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