Financial Daily from THE HINDU group of publications
Wednesday, March 01, 2006
Commodities ( Feb 28 at close)
Gold (per gram) Rs753
Silver (per gram) Rs15.65
Brent crude (per bbl) Rs2715
Markets (Feb 28)
BSE Sensex10282.09(+81.33)
S&P CNX Nifty3067.45(+17.40)
US Dollar (Buy/Sell)44.47



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Budget goes pro-investment; new taxes kept to minimum — FBT modified; small cars to cost less on duty cut; tobacco taxed
The Rs 10,000 limit for contributions to some pension funds eligible for exemption under Section 80 CCC is to go and such contributions are also to be included within the Rs 1 lakh limit More

Service tax hike not to have inflationary impact
The Finance Minister, Mr P. Chidambaram, plans to include a clause in the proposed insurance bill to hike FDI cap from 26 to 49 per cent. He is also confident of introducing the pension reforms bill during the current session of Parliament. In ... More

Market moves up; STT hike no dampener
Poor show
Public sector banks fared poorly at the bourses as the Finance Minister's proposal to extend credit to farmers much below the market rate at 7 per cent was seen as one that would erode their profitability.
Market ex perts opine that there are unlikely to be any Budget related falls in the market.
The 30-stock benchmark index gained 88.15 points over Monday's closing figure. More

15 new services under tax net — Scope expanded in banking, financial services
The Finance Minister, Mr P. Chidambaram has brought 15 new services under the tax net, while extending the scope of the levy on 12 existing services and withdrawing exemptions on six others. The 15 new services made taxable include services ... More

A liberal look to fringe benefit tax — FM has delivered what he had promised
Value in the fringe
Contribution to superannuation funds up to Rs 1 lakh exempt
Celebrity endorsements outside the sales promotion net
Tour and travel expense proportion scaled down to 5 per cent from 20 per cent More

The lure of equity despite stretched valuation — Bias in favour of investments in MFs, insurance
Last year, the Finance Minister had talked about a road map for moving towards an EET system - meaning investments would earn tax rebates at the time of investment, income from such investments would be exempt while proceeds received on ... More

Mutual funds are free to spread their wings
Feel that stock prices in the Indian market have run up too much? You may soon get an opportunity to diversify by buying stocks from the Chinese, Taiwanese, or Japanese stock markets through the mutual fund route. The Budget has just ... More

Feeling the pinch of STT
While introducing the Securities Transaction Tax in the July 2004 Budget, the Finance Minister remarked that the new tax regime "will be a win-win situation for all concerned." He also remarked that the levy would be small. Opponents of the tax ... More

STT hiked by 25 pc — Dealers say move is on expected lines
The tax was introduced in the 2004-05 Union Budget and is applicable at different rates on the value of the taxable securities transaction, defined to mean a transaction of purchase and sale of securities entered into in a recognised stock exchange i n India. More

Fringe Benefit Tax provisions modified — India Inc not mollified, wants it to go completely
Watered down
Exemption of Rs 1 lakh for contributions to superannuation fund
Medical samples, equipment, celebrity endorsements, free transport excluded
Benefits under `tour and travel', hospitality to attract 5 per cent More

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Union Budget 2006-2007

Economic Survey 2005-2006

Top Stories
No bad news on income taxes

Wiring up the nation

Shipping management services expensive

Big bonanza for the small car

IT industry divided over impact of excise duty — Desktop, notebooks may turn costlier

Bank deposits to get 80C deduction — Recapitalisation bonds to be converted into tradable securities

MFs keen to tap global opportunity

Short-term credit at 7 pc — Farmers to get from kharif season

A touch more than a stitch in time

Equity fund redefined

Domestic airlines get tax exemption for 1 more year

In Focus

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IPO Scams
FDI in retail sector
Dynamic Tirupur
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In Depth

Gender Justice
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