Articles by FCS Deepak Pratap Singh
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Taxability Of Income From Downlinking Television Channels In India By Foreign Companies
Discussing the taxability of income of a foreign company for downlinking television channels in India and income from display of uncut and unassorted diamonds by a foreign citizen in the Bharat Diamond Bourse.
Diversion of Business Opportunities by a Director for its Own Benefit
The duties of directors are higher than those imposed by law on an employee since they are not senior managers of the company but fiduciary and are responsible for the success of the company.
Whether Medical Expenses incurred outside India by an employer will be taxable as a prerequisite?
Perquisite may be defined as any casual emolument or benefit attached to an office or position in addition to salary. This includes rent-free accommodation, concession in the matter of rent or any other amenity.
Whether Upfront Payment of Interest on Debentures Allowed as Deduction in the Year of Payment
Recurring subscriptions paid periodically by shareholders, or subscribers in Mutual Benefit Societies which fulfil such conditions as may be prescribed shall be deemed to be capital borrowed.
Tax implication on self generated goodwill when conversion of proprietor into partnership
Where proprietor business is converted into a partnership, the exclusive interest of the proprietor is reduced and the business assets become sets of the firm in which he becomes a partner.
Liability of Director as Guarantor for Debts of the Company
A personal guarantee by a director is a contractual promise to pay the debts of the company in the event that the company is unable to pay the guaranteed debt. ...
Whether AO disallowed increase in remuneration within terms of Partnership Deed
As per section 40(b)(v) any payment that exceeds the amount of remuneration to any partner who is a working partner and in accordance with the terms of the partnership deed, will be disallowed.
Whether Commissioner has Power to Revise Matters Before CIT (Appeals ) - Section 263 & 264
The tax authority can send an order under Section 154 either of their own volition or based on an incongruity noticed by the Income Tax Department.
Tax Treatment on Conversion of Self Occupied Property into Joint Family Stock
It should be kept in mind that while transferring a self-occupied property in the common stock of a Joint Family, you should be a coparcener of the Joint family.
Transfer of Immovable Properties on Sale Consideration less than Stamp Duty Valuation
Where the consideration for transfer of the asset is less than the stamp duty value, the value so adopted shall be deemed to be the full value of the consideration, for computing income under PGBP.
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