The Hindu Business Line : Saturday, April 27, 2002

Sinha treads `middle' path softly
POLITICAL pressures from within the ruling coalition and fear of alienating its traditional middle-class support base has forced the Finance Minister, Mr Yashwant Sinha, to substantially dilute his Budget proposals regarding pruning of tax ... More

Revenue Dept puts together comprehensive relief package -- Section 80 L benefits restored
THE Revenue Department has finally succeeded in pushing its case to dovetail a comprehensive package of reliefs for shareholders while retaining the incidence of taxation of dividends at the hands of the shareholders in the amendments to the ... More

Rollback leads to rise in tax saving scheme yields
THE partial rollback in tax rebate to 15 per cent from the proposed 10 per cent for persons with income between Rs 1.5 and Rs 5 lakh has led to an increase in yields of between four per cent and 20 per cent in the case of tax savings schemes such ... More

Removal of phones from 1/6 criteria to reverse surrenders
THE removal of fixed telephone connections from the 1/6 scheme for filing of income-tax returns, as announced by the Finance Minister is expected to slow down the large-scale surrender of telephone connections - totalling 20 lakh over the past ... More

Duty on butter, oil hiked to 40 pc
IN a major concession to the domestic dairy industry, the Union Finance Minister, Mr Yashwant Sinha, has hiked the basic customs duty (BCD) on butter and butter oil to 40 per cent. The 2002-03 Union Budget had slashed the BCD on butter oil and ... More

Sops for charitable bodies restored
MORE good news is in store for charitable institutions, which have been given major reliefs in the official amendments to the Finance Bill 2002. Besides a partial easing of the income tax norms announced in the Budget, these institutions have ... More

Life insurance cos fear further complications
CONCEDING to a partial rollback on service tax on life insurance premium would cost the exchequer the dearest, with the Finance Ministry estimating a near Rs 1,000 crore revenue loss from this move. The hit on account of this single decision ... More

Philips okays merger, swap ratio 10:11:7
THE board of directors of Philips India ltd (PIL), Punjab Anand Lamp Industries Ltd (PALI), Philip Glass Industries Ltd (PGIL) and Electric Lamp Manufacturers (India) Ltd (ELMI), have approved a scheme for amalgamation for the merger of PALI, ... More

Victor revs up TVS Q4 net
THE five-fold increase in the net profit for the fourth quarter of the year ended March 31,2002 has boosted TVS Motor Company's annual profits. The last quarter's profit (Rs 23.19 crore) alone amounted to 43 per cent of the company's annual net ... More

DoT permits bandwidth sharing by call centres
THE Ministry of Telecom and IT has permitted sharing of bandwidth for disaster recovery and mission critical applications between multiple entities — a move that will help call centres and other IT-enabled service (ITES) providers. The ... More

Stock markets unimpressed with rollback
THE roll-back of the various Budget proposals, including dividend tax, by the Finance Minister, Mr Yashwant Sinha, failed to enthuse the market with stock prices moving in a narrow range throughout the day. Trading pattern remained lacklustre ... More

Kanwal Sibal new Foreign Secy
NEW DELHI: The appointments committee of the Cabinet has approved the appointment of Mr Kanwal Sibal as the next Foreign Secretary from July 1, according to a Government statement. An Indian Foreign Service officer from the 1966 batch, Mr ... More

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