The Hindu Business Line : Saturday, November 15, 2008

OPINION

FINANCIAL MARKETS: The G-20 and John Nash
For several years now, I have been arguing with the few who do not regard me as a complete bore, that economists have lost their way. Many others hold this view, of course, but for differing reasons.My own reason is that the overemphasis ...

TAXATION: Changing concept of PE
India has Double Taxation Avoidance Agreements (DTAAs) with more than ninety countries. Liability to tax in respect of Indian income accruing or arising to a non-resident is governed by Section 90 and 91 of the Income Tax ...

TAXATION: Disguised expenditure tax
Several committees, notably the L. K. Jha Committee of the yore and other financial experts in India, have in the past recommended wholesale switching over to expenditure tax from the extant income-tax. Successive governments at the ...

BOOKS: Pox on the world trading system
Economists remind us how the current financial meltdown resembles in many ways the Great Depression that the world endured in the 1930s. A similarly grim reminder comes from Jagdish Bhagwati, in Termites in the Trading ...

TAXATION: Tax holiday for exports – exemption or deduction
A question that has sparked off many debates but on which no definite consensus has been reached is whether the tax holiday under Sections 10A and 10B of the Income-tax Act, 1961 in respect of export profits is in the nature of an exemption or ...

EDITORIAL: Opportunity and challenge
The harried housewife shopping for vegetables may stare in disbelief at the news that the inflation rate has dropped to 8.98 per cent from double digits just a few weeks ago. The RBI will sigh in relief that the Wholesale Price Index has ...

TAXATION: One-time maintenance charges
There is this story about a house-seeker walking into the office of a reputed builder in Mumbai to home in on a flat, as the house rates were moving down the builder had bundled in a lot of freebies to lucky ...

LETTERS: Govt interference
The Government’s continued interference in the working of PSUs is worrisome. Be it deferring the price revision of petroleum products or the direction to PSUs to park funds with PSBs without seeking the best ...

LETTERS: Fall in inflation rate
The sharp fall in the inflation rate to 8.98 per cent from 10.72 per cent is heartening. But one cannot be too optimistic considering the rather volatile economic situation in the country and the global meltdown still not showing signs ...

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Markets (Nov 14)

Nifty (at close)	2810.35(-28.30)
US Dollar (Buy/Sell)	49.32/34
Brent crude (a bbl) Rs	2,644
Gold (a gram) Rs	1,101
Silver (a kg) Rs	16,420

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