The Hindu Business Line : Saturday, September 16, 2006

EDITORIAL
A new triangle of trust
A diplomatic success, the IBSA summit would be more useful if it leads to greater corporate interaction and technology-transfer deals. More

AIRLINES
Crude effect in the air
Over the last couple of months major domestic air carriers have raised the fuel surcharge on their fare due to the hike in aviation turbine fuel (ATF) rates. ATF now accounts for about 38 per cent of airlines' ... More

TAXATION
The residence factor and tax incidence
Employees sent abroad on deputation can take advantage of the liberal tax provisions concerning non-residents if they stay for more than 182 days in the accounting year outside India. More

Invest time in framing the new tax code
The proposed new income-tax law should not be hurriedly drafted More

Tax on commission to foreign agents who corner business for an Indian event
In Coriolanus, Menenius tells Brutus that with wine and feeding, "we have suppler souls than in our priest-like fasts." Which perhaps explains why eats and spirits go together in occasions such as `food and wine events' listed on ... More

Chambers of service
At present, the service tax law does not consider other laws to grant/negate an exemption. More

Damocles sword of reassessment proceedings
The law for reopening an assessment was amended from Assessment Year 1989-90. The Assessing Officer must have `reason to believe' that income has escaped assessment; a mere change of opinion does not justify a reassessment. More

BOOKS
India moving forward `on a remarkably stable trajectory'
Edward Luce's book In Spite of the Gods takes one on a quick ride across an India characterised as much by a `schizophrenic economy' and shrewd businessmen as by vedantic detachment and Gandhiji's legacy. D. MURALI recommends this meandering read. More

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