The Hindu Business Line : Saturday, July 23, 2005

The yuan effect
THE WEST MAY benefit most from the Chinese nudging their currency, the yuan, into a managed float regime. Imports by Western nations could get dearer while their exports rise, becoming comparatively cheaper. Over the last two years, Western ... More

TAXATION

Black money in the bank
T. C. A. Ramanujam discusses a case about the banking of unaccounted money More

An angle of perception
K. Srinivasan takes a layman look at a few recent court rulings on tax More

Unhurried on the fringe
R. Anand on the delay in intimating the extension of FBT payment More

The chase of deep-sea diving needs in high sea oil exploration
NO HORSE gets anywhere until he is harnessed. No stream or gas drives anything until it is confined. No Niagara is ever turned into light and power until it is tunnelled. No life ever grows great until it is focussed, ... More

INCOME TAX

When diversion of income holds good
The essence of the principle of diversion of income by overriding title is that income must reach a person other than the assessee by reason of a pre-existing title to it. Even if a tax-payer incurs a legal obligation to apply a part of his income, i t would still remain his taxable income unless assigned to the third party at the very source, says H. P. Ranina, citing several pieces of case law to illustrate. More

ECONOMIC OFFENCES

The burden of innocence
YESTERDAY'S papers carried a news item that stated that the Government had announced new regulations for issuance of passports and renewal of existing ones with the objective of checking fraud. An official was quoted as saying: "The tighter norms ... More

BOOKS

A tribute to a formula born 35 years ago
WHEN a professor of economics decides to narrate the story of "one man's intellectual adventure at the very centre of modern finance", blending in both quantitative finance and financial engineering, to depict the ... More

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