Articles by FCS Deepak Pratap Singh
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Impact assessment and related methodologies
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.
Whether capital contribution in cash by partners will be taxable as cash credit
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?
Concept of "Actuary" & "Actuarial Risks"
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
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
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
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
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
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)
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.
Some facts related to bank guarantees
A bank guarantee or also known as BG is a legal document issued by a bank or a financial institution to assure exporters/sellers/suppliers that they would be paid on time if the applicant/importer/buyer fails to pay the amount or fulfill the terms & conditions mentioned in the contract.
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