The Hindu Business Line : Saturday, March 18, 2006

Nuclear spin
Moscow's announcement that it will supply enriched uranium to the Tarapur reactors is one of those developments that fall into the category of diplomatic masterstrokes which nations have been habitually ... More

EDITORIAL

WANING POWER OF THE REPO
As a device to move bank lending rates, the repo is clearly not as potent as it might have been. More

TAXATION

A horse on the one side and a tax-hawk on the other
In one of the sonnets, you hear the Bard sing: "Thy love is better than high birth to me, Richer than wealth, prouder than garments' cost, Of more delight than hawks or horses be." Though not equally delightful, this is a story about a horse, ... More

Worm in `book profit'
Long-term capital gains relating to transactions in securities shall be taken into account in computing the book profits. To recover some part of the revenue foregone, the tax on book profits has been hiked More

Stretch of a sin tax
A single-point, specific Central tax levy is preferable on tobacco products pending further improvements in the VAT laws. A truck-full of cigarettes is roughly valued at Rs 70 lakh, of which, the Central Excise duty burden is Rs 40 lakh. More

Making it less taxing for institutions to educate
If a trust or a society exists solely for educational purposes and it runs an educational institution, its income will be that of the educational institution and, therefore, exempt from income-tax. More

What's missed is `retrospective'
Computation of income for advance tax purpose is an exercise in itself. Gone are the days when assessees — both individuals and corporates — used to make ad hoc estimates and pay lumpsum amounts as advance tax. The trend at that ... More

BOOKS

Decoding the smoke signals from a Bush fire
It is generally recognised that the US will be the sole superpower in what is heading to be a unipolar international system. But will the rest of the world accept this position, wonders the book The Second Bush Presidency: Global Perspectives. For, t here is a remarkable concentration of power in the American presidency, as Command of Office fears. D. MURALI reviews the two accounts. More

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