Articles by FCS Deepak Pratap Singh

Some facts related to section 54F of IT act, 1961

Posted by FCS Deepak Pratap Singh 17 January 2022 7644 Views

The assessee purchased land from the sale proceeds of property held by him and constructed a nursing home and residential house thereon. On the residential house, he claimed exemption under section 54F of the Income-tax Act, 1961.

Valuation of free of cost supplies under GST

Posted by FCS Deepak Pratap Singh 16 January 2022 7926 Views

We know that the value of a taxable supply is the taxable base on which the rate is applied. It is important to understand and calculate the value of supply for ascertaining GST liability. GST will be applicable in the value of the goods and services supplied.

Courts cannot relax terms and conditions of insurance policy

Posted by FCS Deepak Pratap Singh 16 January 2022 1531 Views

Of the case are that complainant, M/s.Dharmanandan Dismonds Pvt. Ltd. has given diamonds to one commission agent Mr. Arjanbhai Mangukia to show the diamonds to the prospective buyers by issuing "Janghad slip" on 10.06.2002.

SC: An insurer cannot repudiate a claim by citing an existing medical condition

Posted by FCS Deepak Pratap Singh 15 January 2022 6012 Views

The facts, in a nutshell, are that the appellant had sought an overseas mediclaim policy (hereinafter referred to as "medical policy") as he intended to travel to the United States of America ("USA") to attend the wedding of his sister-in-law's daughter.

Whether benefits of Section 23(2) available to HUF?

Posted by FCS Deepak Pratap Singh 15 January 2022 4462 Views

From decision of Gujarat High Court, it is clear that a HUF is a group of natural persons, who are related to each other with blood relations. A HUF consisting of natural persons cannot be considered as a fictional entity and can be considered as owner of a house property and enjoy benefits of the provisions of Section 23(2) of the Income Tax Act, 1961.

Applicability of provisions of Section 35AD of Income Tax Act, 1961

Posted by FCS Deepak Pratap Singh 14 January 2022 5610 Views

Section 35AD provides for investment-linked tax incentive for Specified Business

Why should you be cautious in a bull market?

Posted by FCS Deepak Pratap Singh 13 January 2022 3715 Views

The stock market helps to value the securities on the basis of demand and supply factors. The securities of profitable and growth-oriented companies are valued higher as there is more demand for such securities. The valuation of securities is useful for investors, government and creditors.

Downstream investments & regulations under FEMA 1999

Posted by FCS Deepak Pratap Singh 12 January 2022 5472 Views

Downstream Investment under FEMA,1999 means investment by an Indian entity having FDI into another Indian entity. The first foreign investment is called Foreign Direct Investment and later one is called Foreign Indirect Investment.

Concept of Rupee Denominated Bonds (Masala Bonds)

Posted by FCS Deepak Pratap Singh 11 January 2022 4412 Views

The RBI after consultation with the Department of Economic Affairs, Ministry of Finance, Government of India has come out with the concept of Rupee Denominated Bonds, generally known as "MASALA BONDS" in the overseas market. These bonds are utilized as a tool by eligible Indian entities to raise funds from overseas.

Definition of Carpet Area under RERA 2016

Posted by FCS Deepak Pratap Singh 10 January 2022 4268 Views

Real Estate Sector before introduction of RERA,2016 was one of the most unregulated sector in the country. We know that the Real Estate Sector is contributing around 6.5 to 7% of the GDP of India.