The Hindu Business Line : Thursday, January 26, 2006

Laudable legislation
CABLE TV subscribers all over Tamil Nadu, and certainly within the Chennai city, must have felt overjoyed by the prospect of being rescued from the clutches of private multi-system operators (MSOs). The State Government's Bill to take over those ... More

ACCOUNT SPEAK

Officers told the court what they thought it should know, and not the truth
IN A REPORT dated January 19, AccountingWeb reports, `Investigation launched into HMRC VAT trial fiasco'. The abbreviation, apart from the one about value-added tax, is of HM Revenue & Customs, "formed on the 18 ... More

BOOKS OF ACCOUNT

CSR is not just a nice-to-do add-on
CSR or corporate social responsibility is no longer defined by how much money a business gives away. It hinges more on how that business makes money in the first place, writes Mallen Baker in Strategic Corporate ... More

INDIA UNINC

Deciding the tax rate — Factor in the bribe rate too
An informal survey conducted over the past three years revealed that the revenue generated in one city on account of `bribe taxes' (`charges' collected by government employees) is Rs 3-5 crore a day. At the national level, this adds up annually to a whopping Rs 50,000 crore. Extrapolating this in combination with the under-collected taxes, our tax-GDP ratio is highly comparable to many developed economies, says R. Vaidyanathan, adding that the Finance Minister must recognise the bribe tax and reduce regular taxes so that the misery index of citizens is minimised. More

EAR TO THE GROUND

Bharat Gears rises on attractive rights offer
BHARAT Gears Ltd rose on Wednesday after the company filed its rights issue offer document with SEBI. The rights issue is priced very attractively, dealers said. The stock rose 6.28 per cent on BSE to close at Rs 100.65, compared to Tuesday's ... More

SENSOR

Good corporate results propel markets
THE appetite of the bulls did not satiate after the near-100 points gain witnessed on Tuesday. It was the day of the bulls on Wednesday also as the Sensex moved to new highs. Markets opened on a strong note and continued their momentum to ... More

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