OPINION
EDITORIAL
Tonnage tax blues
THE EUPHORIA OVER the tonnage tax, it appears, is over. The fineprint of the Budget proposals reveals some disparities, perhaps unintended, between what the shipping industry had wanted and what it got. The industry's disappointment is ...
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BUDGET
Kudos unlimited suffers from the law of diminishing marginal utility
AFTER congratulating the Finance Minister for his Budget, the Institute of Chartered Accountants of India spares no phrase to heap praises, such as: that the Budget would give impetus to the growth of the economy; is in ...
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ECONOMY
INDIA UNINC
The least acknowledged big savers
The dominant share of Partnership and Proprietorship firms in the national saving has not been adequately recognised. These P&P firms are considered households in the savings data of the Centre, though many have turnover running into thousands of res of rupees. Policy-makers and economists must become alive to this anomaly, says R. Vaidyanathan.
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ACCOUNTANCY
Sickening definition of sickness
S. Murlidharan on how panic of industrial sickness can set in faster than the sickness itself
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Breakdown in internal control leads to improper payments
ON July 8, we got an important document tabled in the House, the Budget. Same day, the US Government Accountability Office (GAO) released the statement of McCoy Williams, Director Financial Management and Assurance, on ...
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Accounting becomes accountability
IN A significant move, the US General Accounting Office (GAO) has adopted a new name. It is now the Government Accountability Office. AccountingWeb observes that some were sorry to see the name of the agency, ...
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TAXATION
Service is a drama but taxman is in the greenroom
Service tax axe is yet to fall on lawyers and doctors, barbers and cobblers, but has already sucked in pandal contractors and caterers, cheques and lockers. Now, with the taxmen sniffing at every nook to identify taxable service, one has to lo ok up what the word means.
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RAILWAY BUDGET
Rail Budget: Difficult decisions sidelined
THE National Council of Applied Economic Research had constituted an Expert Group on the Indian Railways in 2001. The report says that the Railways faces difficulties in raising funds from all the three major sources. ...
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BOOKS
Get deft with ABC
ABC captured the imagination of businesses a few decades ago. Thus, activity-based costing was sometimes called `always better costing' too. "ABC removed the grotesquely distorting effect of broad-brushed overhead ...
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LETTERS
Focus on growth
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