Accountancy
Strands of the standards -- II
Standard costs can be an effective business tool, says George Brown

Book Review
Happy words
PHILIP Holden's Ethics for managers is a book for ``managers with conscience who are concerned about their souls and hope that their organisations can be both efficient and compassionate.''

Information Technology
Guarding the castle
THE REQUIREMENTS of information security within an organisation have undergone two major changes in the last several decades.

Taxation
Tax lessons for co secretaries
TO INCREASE the number of taxpayers, the economic criteria scheme was introduced through the Finance Act, 1997. Now, an assessee covered by any one of the following six conditions should file return of income irrespective of whether his income exceeds th e taxable limit or not. Assessees who are already in the tax net need not file a separate return under the scheme. The six conditions are: i) occupies immovable property exceeding a specified floor area -- whether as owner, tenant or otherwise, ii) own s or takes on lease a motor vehicle (other than two-wheeler), iii) subscribes to a telephone, iv) travelled to a foreign country -- other than Sri Lanka, Nepal, Bangladesh, Pakistan, Bhutan and Maldives -- during the previous year, v) holds a credi t card issued by any bank or institution (but not `add-on' card), and vi) holds membership of a club which charges Rs 25,000 or more as entrance fees.

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