Articles by FCS Deepak Pratap Singh

Reversal of input tax credit - Real estate sector

FCS Deepak Pratap Singh 03 March 2022 at 12:35

As you are aware that implementation of Goods and Services Ac,2017(GST) is one of the most important act of this NDA Government. Through implementation of GST the concept "One Tax one Nation" has been fulfilled and the tax system of India has been totally overhauled.

Whether capital contribution in cash by partners will be taxable as cash credit

FCS Deepak Pratap Singh 01 March 2022 at 08:45

Can capital contribution of the individual partners credited to their accounts in the books of the firm be taxed as cash credit in the hands of the firm, where the partners have admitted their capital contribution but failed to explain satisfactorily the source of receipt in their individual hands?

Impact assessment and related methodologies

FCS Deepak Pratap Singh 28 February 2022 at 08:43

As you are aware that an "Impact Assessment "is study and a process of identifying the consequences of current or proposed action. It is the process of identifying the anticipated or actual impacts of a development, intervention on those social, economic and environmental factors which the intervention is designed to affect or may inadvertently affect.

Concept of "Actuary" & "Actuarial Risks"

FCS Deepak Pratap Singh 26 February 2022 at 08:51

As you are aware that an "Actuary "plays an important part in the insurance sector and he/she is well decorated and trusted professional. Actuaries analyse the financial costs of risk and uncertainty.

Consumer dispute resolution through mediation under Consumer Protection Act,2019

FCS Deepak Pratap Singh 26 February 2022 at 08:51

As you are aware that the Consumer Protection Act, 1986 is serving consumer fraternity since last three decades. This act has been promulgated to protect the interest of consumers from Unfair Trade Practices and fraudulent trade practices adopted by market players. The Act, 1986 is a three-tier redressal system having appellate jurisdictions.

Whether financial creditor of holding Co. considered as FC of subsidiary if subsidiary given loan security

FCS Deepak Pratap Singh 25 February 2022 at 08:58

The case essentially deals with a third-party mortgage extended by the Corporate Debtor for a loan taken by its holding company, wherein the Corporate Debtor mortgaged its property for such borrowing.

Future prospects should be paid even in case of notional income - Motor Vehicles Act,1988

FCS Deepak Pratap Singh 25 February 2022 at 08:58

In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of national income.

Calculation of taxable and non-taxable interests under EPF/GPF accounts

FCS Deepak Pratap Singh 24 February 2022 at 09:05

The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable.

Limitation period is 3 years even if default fall before enactment of IBC 2016

FCS Deepak Pratap Singh 22 February 2022 at 08:57

Limitation period for initiation of CIRP is 3 years from the date of default even if a default took place prior to the enactment of IBC,2016.

All about Uniform Customs and Practice for Documentary Credits (UCP)

FCS Deepak Pratap Singh 21 February 2022 at 12:06

A Documentary Letter of Credit or LC is an irrevocable, written undertaking by a commercial bank, issued at the request of the buyer (applicant) in favor of the seller (the beneficiary), to the effect that payment for certain goods or services will be made against a complying presentation of documents.