The Hindu Business Line : Saturday, May 03, 2008

COURTS/LEGAL ISSUES
Lax implementation of tax provisions
Penalties, pecuniary or otherwise, and prosecution provisions have to be an integral part of any taxing statute to ensure correct and timely compliance. Barring some honest taxpayers, compliance hinges on (i) how effective penal provisions ... More

Nipping the tax bud from nursery income
It is not thatannual Budgets always impose fresh levies on taxpayers. We do come across instances of Finance Ministers being over-considerate and giving relief to taxpayers based on judicial rulings. Handling of agricultural income in this ... More

MUTUAL FUNDS
Mutual funds as tax sanctuaries
Mutual funds in India do not pay income-tax, thanks to the almost blanket exemption conferred on them by Section 10(23D) of the Income- Tax Act, 1961. Contrary to the notion harboured in some quarters, this exemption isn't in deference to there ... More

NON-PERFORMING ASSETS
Claiming bad debts as a deduction
More

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