Articles by FCS Deepak Pratap Singh

SC: A "Going concern sale" on an "as is where basis" means sale of both assets & liabilities

FCS Deepak Pratap Singh 13 April 2022 at 08:46

A 'going concern sale' on an 'as is where basis' does not dissolve the corporate debtor, rather, it forms a part of the liquidation estate wherein the entire business, including assets and liabilities, including all contracts, licences, concessions, agreements, benefits, privileges, rights, or interests, is transferred to the purchaser.

A debt not being part of resolution plan would not be legally actionable

FCS Deepak Pratap Singh 12 April 2022 at 08:56

Once the resolution plan was approved, all claims stood frozen and a claim which did not form a part of the final resolution plan would not be legally actionable.

TDS on interest on PF contributions in excess of threshold limit

FCS Deepak Pratap Singh 11 April 2022 at 08:45

EPFO ISSUED CIRCULAR CLARIFYING TDS ON INTEREST ON PF CONTRIBUTIONS IN EXCESS OF THE THRESHOLD LIMIT

Tax savings through HUF

FCS Deepak Pratap Singh 11 April 2022 at 08:45

HUF is a creation of law and cannot be created by the act of parties, except in the case of adoption by member of HUF.

Concept of "Safe Harbour Rules" under Income Tax Act 1961

FCS Deepak Pratap Singh 11 April 2022 at 08:45

Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions, thus "eroding" the "tax-base" of the higher-tax jurisdictions.

SC: Collective Investment Scheme floated by a private trust is illegal

FCS Deepak Pratap Singh 08 April 2022 at 09:03

From the discussion and the decision of the Apex Court,it is clear that according to the statutory scheme a collective investment scheme can only be floated by a person in the form of a collective investment management company and not in any other form and this is why, under sub-section 2 of Section 11AA, the term “company" is used instead of "person."