Articles by FCS Deepak Pratap Singh

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No assumption of deficiency in service can be made unless proved with evidence

  FCS Deepak Pratap Singh    09 November 2024 at 07:03

without evidence, and the responsibility to prove the same lies with the complainant.



Remedies In Case Your Insurance Claim Rejected By Insurance Company

  FCS Deepak Pratap Singh    07 November 2024 at 06:43

It's important to remain persistent and proactive in pursuing reimbursement for legitimate medical expenses. Keep thorough records of all communications and documentation related to the claim and continue to advocate for your father's rights as a policyholder.



Mere position of a person as a director does not automatically make them vicarious liable

  FCS Deepak Pratap Singh    23 October 2024 at 08:28

The mere position of an individual as a director of a company does not automatically make them vicariously liable for the actions of the company or its employees.



ITC will be allowed when Immovable Property falls under Definition of Plan & Machinery: SC

  FCS Deepak Pratap Singh    19 October 2024 at 07:54

To give a plain interpretation to clause (d) of Section 17(5), the word "plant" will have to be interpreted by taking recourse to the functionality test.



Risks involved while porting an Insurance Policy

  FCS Deepak Pratap Singh    15 October 2024 at 08:23

As you are aware Insurance has become one of the most important necessities of our life, same as food, shelter, education etc. Insurance provides us indemnity from financial loss in case of happening of any accident or disease.



What is Co-Pay Insurance And How is it Beneficial For Senior Citizens?

  FCS Deepak Pratap Singh    20 September 2024 at 08:33

The co-payment option in health insurance for senior citizens is a contractual arrangement in which the policyholder is responsible for paying a specified percentage of the medical costs upfront, while the insurance provider covers the rest.



Is trading in a Life Insurance Policy allowed?

  FCS Deepak Pratap Singh    03 September 2024 at 08:53

"It is suggested that life insurance policies be treated as a capital asset falling within the definition of "property" under Section 2(14) of the Income Tax Act. Indexation benefit (for premiums paid) will take care of inflationary impact, resulting in parity with other capital assets," ICAI said in its Pre-Budget Memorandum, 2022.



Case Study: Lease Rent Payment (Fixed or Variables)

  FCS Deepak Pratap Singh    02 September 2024 at 08:31

In the given case, payment of Rs 2 per bottle packed is variable is nature because the no. of bottle packed will vary.



Case Study: Change in Accounting Estimates And Errors Reporting

  FCS Deepak Pratap Singh    29 August 2024 at 08:39

In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.



Case Study: Revenue Recognition

  FCS Deepak Pratap Singh    28 August 2024 at 08:41

The entity ABC is a public limited company domiciled in India. The Government of India holds 52% in the paid-up equity capital of the company as of 31st March, 2023