The Hindu Business Line : Saturday, July 26, 2008

OPINION

TAXATION: A soft ruling on software export turnover
Recently, the Income-tax Appellate Tribunal (ITAT), Bangalore, passed a favourable decision in the MphasiS Ltd case, granting relief to the assessee in respect of the deduction under Section 10B of the Income-Tax Act, 1961. ...

INCOME TAX: Offering ‘income’ to buy peace of mind
What constitutes “income” is an issue not fully settled by the courts in India. The definition of ‘income’ contained in Section 2(24) of the Income-Tax Act is illustrative and not exhaustive. It has undergone several ...

INCOME TAX: Expenditure on exempt income
All expenditure related to the earning income will have to be deducted in arriving at the taxable income. If some part of the income does not suffer tax because it is either dividend income or agricultural income, difficulties arise in ...

EDITORIAL: New spin on cotton exports
Recording of export contracts can be the starting point in developing and strengthening critical data infrastructure for the cotton sector.. The cotton sector never ceases to be in the news. Whether it is expanding fibre production, adoption of ...

CREDIT POLICY: Countdown to Credit Policy Review — Should the RBI tighten monetary policy further?
In the background of inflationary conditions and signs of decelerating growth, the RBI may be tempted to tweak key rates and ratios. But it should not only wait for the full impact of the higher deposit rates to take effect, but also withdraw the ... eme for purchase of oil bonds and declare them SLR-eligible, says A. SESHAN..

LETTERS: Reorganising the judiciary
This is with reference to the captioned article (Business Line, July 23). While the structural changes suggested are worth pursuing, the problem will only be answered only partially by these measures. What is more important ...