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TAXATION: Is inflation-adjusted tax system feasible?
With inflation rate running in double digits since the last two months, and with not signs of it falling in the near term, an issue that needs to be looked at consideration is whether the Income-Tax Act should be indexed for ...

POLITICS: Jammu is not for burning
It is typical of the political procrastination in the face of national crises that the violent disturbances in Jammu and Kashmir (J&K) were allowed to rage for more than a month before the all-party meeting under the chairmanship of the Prime ...

TAXATION: Taxability of arrears of rent
Every Finance Act brings in amendments galore to the Income-Tax Act. The assessing officers (AOs) face problems in interpretation of these amendments. The foremost of these concerns the nature of the amendment. Is the amendment ...

TAXATION: Justice denied in reassessment
Reassessment proceedings are initiated when the assessing officer (AO) believes that any income chargeable to tax has escaped assessment. The mechanics for reassessment is contained in Sections 147 to 153 of the Income-Tax (I-T) Act. ...

EDITORIAL: Inflation debate
For over a year, policymakers have stressed so much on the threat of inflation to the economy and the need to curb its effects that its spectre has begun to haunt business confidence. The RBI’s repeated increase of the repo rates and cash ...

LETTERS: Lead bank scheme
This has the reference to the article “Revitalise the Lead Bank Scheme” (Business Line, August 6) that outlines the changes to be effected in the Scheme to help the banking sector face the challenges of a rapidly ...

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