Export Oriented Units (EOUs) have been defined under the Foreign Trade Policy (FTP) as those units undertaking to export their entire production of goods and services (except permissible sales in Domestic Tariff Area (DTA) for manufacture of goods, including repair, re-making, reconditioning, re-engineering, rendering of services, development of software, agriculture including agro-processing, aquaculture, animal husbandry, […]
India has always been viewed as a market with enormous opportunities. Being an era of digitisation, many tech start-ups enter the market to capture the online audience. The hyper-growth of online restaurant discovery and food ordering system has paved the way for a lot of food tech startups to emerge in the industry. Zomato, India’s
Debentures are a form of long-term debt instrument issued by a company to raise funds from the public. It is a popular financing tool used by companies for various purposes, including capital expenditure, expansion plans, and debt refinancing. Debentures are a crucial aspect of the corporate world, and their issuance is governed by the Companies Act,
“DIY” everywhere, and you probably already know what it stands for: “do it yourself.” It’s a pretty straightforward-sounding concept. But “DIY” might conjure up totally different images for different people, because really, it can be about so many things. Basically, DIY means that, instead of hiring a professional to do a particular task — or,
When termination of agent’s authority takes effect as to agent, and as to third persons The termination of the authority of an agent does not, so far as regards the agent, take effect before itbecomes known to him, or, so far as regards third persons, before it becomes known to them.Illustrations(a) A directs B to
Revocation and renunciation may be expressed or implied Revocation and renunciation may be expressed or may be implied in the conduct of the principal or agent respectively.IllustrationA empowers B to let A‟s house. Afterwards A lets it himself. This is an implied revocation ofB‟s authority. Practice area’s of B K Goyal & Co LLP Income
Notice of revocation or renunciation —Reasonable notice must be given of such revocation or renunciation, otherwise the damage thereby resulting to the principal or the agent, as the case may be, must be made good to the one by the other Practice area’s of B K Goyal & Co LLP Income Tax Return Filing |
Compensation for revocation by principal, or renunciation by agent Where there is an express or implied contract that the agency should be continued for any period of time, the principal mustmake compensation to the agent, or the agent to the principal, as the case may be, for any previousrevocation or renunciation of the agency without
Revocation where authority has been partly exercised The principal cannot revoke the Authority given to his agent after the authority has been partly exercised, so far as regards such acts and obligations as arise from acts already done in the agency.Illustrations(a) A authorizes B to buy 1,000 bales of cotton on account of A, and
When principal may revoke agent’s authority The principal may, save as is otherwise provided by the last preceding section, revoke the authority given to his agent at any time before the authority has been exercised so as to bind the principal. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing |
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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