The Hindu Business Line : Saturday, March 31, 2007

FOREX
Decimal disorder
Fifty years ago a conversion upheaval swept through the whole of India. Hold on! It was no religious conversion. It was about quite another denomination — of the currency. Yes, Indian coinage went decimal. The changeover took effect on ... More

INFRASTRUCTURE
Simmering discontent over SEZs
The consensus among experts seems to be that the economic and other costs of SEZs are likely to outweigh the so-called benefits because of the way the rules have been formulated and the loopholes in the policy. The RBI has, thus, stated that SEZs be treated as commercial real estate rather than as a priority sector proposition for bank lending, says S. D. NAIK. More

TAXATION
Source rule for taxing NRIs
Several judgments of High Courts are proposed to be nullified by the Finance Bill, 2007. For instance, the Executive is looking to annul a judgment delivered in January 2007 concerning interpretation of Section 9 of the Income-Tax Act, 1961 by ... More

Retrospectively unfair
There are 84 clauses in Finance Bill 2007, of which, 73 relate to income-tax and 11 to wealth tax. Nearly 30 per cent of the provisions are to be operative retrospectively More

Cash in crosshairs
The Finance Bill, 2007 seeks to disallows 100 per cent of the expenditure incurred if Section 40A(3) is violated — payment otherwise than by account-payee crossed cheque or bank draft. More

China goes fast-forward on uniform tax code
India can take a leaf out of the Chinese statute book as bringing all enterprises within the scope of a single new law increases the transparency of the tax regime. More

INTERVIEW
When foreign targets blip on your deal radar
Achieving global effective tax rate (GETR) reductions will improve post-tax cash flows and enhance shareholder value. However, tax planning should not be conducted in isolation but must be integrated into business initiatives. More

LETTERS

The demographic dividend

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