The Hindu Business Line : Saturday, August 19, 2006

Sublease as capital asset
The Transfer of Property Act declares that lease of immovable property is a transfer of right to enjoy the property for a certain time in consideration of a price. The price is called the premium, and the money or service to be rendered, the rent. When the interest of the lessor is parted with for a price, the price paid is premium More

A costing standard that rescued a chocolate case
After about 20 years of marriage, actor Mel Gibson discovered that he was finally `starting to scratch the surface of what women want'. What did he find? That `the answer lies somewhere between conversation and chocolate.' British comedian Jo ... More

Taxing non-residents — The source rule principle
Non-residents are subject to tax in India in respect of any income received in the country or accrues or is deemed to accrue or arise in it. Section 5(2) of the Income-Tax Act, 1961 has so defined the contours of the tax net as applicable to ... More

Bankable deposit
In accordance with the amendment to Section 80C(2) of the Income-Tax Act, 1961, bank term deposit qualifies for Section 80C deduction effective assessment year 2007-08. It was announced that the details of the scheme would be framed and, ... More

ECONOMIC OFFENCES
Capitalism is increasingly operating outside the rule of law
"Responsible business interests should understand that they have much more to gain from supporting and extending rather than subverting and weakening legal structures," cautions Raymond W. Baker in Capitalism's Achilles Heel. Satyajit Das promises a `wry and wickedly comic exposé' that is played out every day in trading rooms around the world in Traders, Guns & Money. Racy reads for the weekend, suggests D. MURALI. More

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