Business Daily from THE HINDU group of publications
Monday, August 25, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, August 25, 2008 ePaper | Mobile/PDA Version | Audio |
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MENTOR MANAGEMENT: Games bosses play Today’s corporate and business environment is unforgiving. Consistent results are the only survival guarantee. It is therefore important to learn to spot the games that people play, particularly the bosses, and then deal with them ... INCOME TAX: ‘Issue’ versus ‘service’ of notice For assessment of income, a notice is issued seeking the taxpayer to produce the necessary details for examination of the statements filed and income admitted by him. Technically, a notice must be served on the taxpayer as if it were a summons ... TAXATION: Lowdown on windfall tax There has been increasing demand from a section of political parties that we in India need to levy windfall tax on oil companies which are seen to have made excess profits with recent changes in global oil ... INCOME TAX: Sale of house I want to sell my house for Rs 10 lakh but the buyer is interested in declaring the market value which is Rs 5 lakh and pay stamp duty accordingly. But I insist on receiving the entire amount of Rs 10 lakh in demand draft. Can I get the sale ... FOREIGN DIRECT INVESTMENT: Which is better, FDI or foreign trade? Reams have been written on this issue. Suffice it to say that as a rule of thumb, developing nations stand more to gain through FDI (foreign direct investment) and developed ones more through international trade. Which is why at the WTO, ... INCOME TAX: Deductibility from rent There seems to be an inconsistency in the income-tax law on housing loans. While interest paid to a lender in the unorganised sector is deductible from rent, the repayment of principal to the same person does not qualify for deduction under ... ACCOUNTING STANDARDS: Goodwill accounting It is not clear what exactly you mean by loss on merger. Perhaps, you are referring to the excess purchase consideration paid vis-À-vis the value of the net assets taken over. This is recognised as goodwill under the purchase method and ... INCOME TAX: Trust assessment Can a public charitable trust — registered so under the tax laws and regular and sincere compliant of all its objects, applicable laws — give Form 15G to its banker with whom the trust maintains its deposits instead of applying to its ...
INCOME TAX:
TDS requirement
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