The Hindu Business Line : Saturday, May 12, 2007

FERTILISERS
Fertiliser pricing — Time to scrap the archaic scheme
The present fertiliser subsidy system is doing no good to farmers or agriculture, as the huge sums forked out by the tax-payer for subsidy payments are cornered by fertiliser producers, input suppliers and others in the supply chain. The Government s hould dismantle the system, and soon, says UTTAM GUPTA. More

TAXATION
The fine art of taxing
The scope of `capital asset' is proposed to be expanded to exclude from the meaning of personal effects archaeological collections, drawings, paintings, sculptures, or any work of art. Transfer of these assets will attract capital gains tax. More

Attribution of profits to PE vs. arm's length payment
In a recent decision, the Mumbai Tribunal held that the income of a foreign company in India may be taxed even where the foreign company pays an arm's length remuneration to its dependent agent in India. More

EDUCATION
English — advantage India
With China going all out to make its young people proficient in English, India's main advantage over China in terms of a large English-speaking population will not remain uncontested for long. More

INCOME TAX
Not just for form's sake
Making income-tax forms and the return filing process simpler can bring many benefits for the Finance Ministry as also the taxpayer. More

ESOPs — no more a benefit at the fringe
The changes proposed by the Finance Minister on determining fair market value of shares do not spell a fair deal for employees. More

Distance lends disenchantment
When it comes to contending with the wiles and guiles of offshore assessees, the IT department has been finding distance a positive nuisance. More

LETTERS

Gratuity for teachers

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Looking back
Apr. 29-May. 5
Making education inclusive