The Hindu Business Line : Saturday, May 19, 2007

FOREX
Making sense of rupee appreciation
It is time India learnt from Japan and China that at the crucial stage of economic growth, an undervalued exchange rate is preferable to an appreciating rate, no matter its advantages in fighting inflation. It is also time the policymakers remembered that exchange rate is not like the price of cabbage that can be left to the pure market forces of demand and supply, say D. SAMBANDHAN and M. RAMACHANDRAN. More

TAXATION
READER'S RESPONSE
Divided on deemed dividend
The article `Deemed dividend in capital reduction vs. buyback' (Business Line, May 10) discusses the tax implications of capital reduction. There is an observation by Mr Sandeep Chaufla that the amount of deemed dividend covered in the ... More

Seeking I-T Dept will have your hide
There is now a two-tier system of penalties for concealment — one covering cases of search initiated before June 1, 2007, and the other concerning cases of search initiated after this date. More

No strong case for credit
Section 88, which was equitable and working well, should have been continued. Section 80C favours the higher-income-group taxpayers. More

At a loss on filing returns
With the intention of the legislature not clear on filing of returns by a loss-making outfit, decisions will continue to be based more on facts than on law. More

Export profits on the book
While computing book profits under Section 115JA, should profits eligible for deduction be computed under the normal provisions of the I-T Act or with reference to the book profits, is a question that came up before the Special Bench of the Bombay Tr ibunal recently. More

INCOME TAX
Wilful failure to file return can be taxing
`Wilful default' is deliberate failure to do what the tax-payer ought to have done, knowing that to omit doing so was wrong. More

LETTERS

Sethusamudram Project

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Union Budget 2007-08

Railway Budget 2007-2008

Economic Survey 2006-2007

Top Stories
Digital music growth threatens CD existence

Net TV subscriber base may touch 1 m by 2011

Rupee gains on China's move

Navratna oil PSUs allowed to invest abroad

ONGC Videsh, OIL skip latest auction rounds in Nigeria

Looking back
May. 6-May. 12
Fresh warning on climate change

BPO sector — busting the myths