Articles by FCS Deepak Pratap Singh
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Assignment of marine insurance policies
A contract of marine insurance may by its express terms or by usage of trade be extended so as to protect the insured against losses on inland waters or any land risk which may be incidental to any sea voyage.
Procedure of lodging complaint with the Insurance Ombudsman
The government has provided various forums for resolution of disputes of dissatisfied policyholders and the “Insurance Ombudsman" is one of them.
Whether income tax attachment order will be considered as bar on sale of assets of a company in liquidation under IBC 2016
Leo Edibles & Fats Limited Vs. Tax Recovery Officer (Central)- Hyderabad [2018] 99 taxmann.com 226/259 Taxmann 387 Andhra Pradesh & Telangana High Court.
Supreme Court lays down guidelines for operation & safety of locker
A customer for security of his /her valuables approaches the banks and ask for safe deposit lockers. It is duty of the banks same as bailee to provide security and safety to the valuables kept in safety lockers of their customers.
Whether statement in proposal form amounts to a warranty or is merely descriptive of the risk insured?
A Proposal form is the most essential and fundamental document required for an insurance contract between a prospective customer and the insurance company. It includes the customer’s necessary information like name, address, age, education, occupation etc. It can also include the person’s medical history.
Income from unsold flats shall be treated as business income
INCOME FROM UNSOLD FLATS SHALL BE TREATED AS BUSINESS INCOME OF THE DEVELOPER AND NO INCOME FROM HOUSE PROPERTY ON THE BASIS OF ANNUAL LETTING VALUE OR NOTIONAL VALUE OF RENT.
Monetary penalties to be imposed by an insolvency professional agency on its members
For individuals insolvency and bankruptcy matters there were three laws dominating in India and the last recourse if the Court of Laws. The process adopted earlier for resolution of matters were painful for creditors /financiers ad the defaulting persons were taking advantage of loopholes of these laws, rules and regulations.
Whether sub-leasing of properties will be taxable in PGBP or income from house property
Whether Income from Sub-leasing of properties will be considered as Income from Profits and Gain from Business or Profession (Section 28) or Income form House Property (Section 22).
Assessment under provisions of Section 153A of IT Act, 1961
SOME IMPORTANT FACTS RELATED TO ASSESSMENT UNDER SECTION 153A OF THE INCOME TAX ACT, 1961
Reversal of input tax credit - Real estate sector
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.
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