The Hindu Business Line : Saturday, March 10, 2007

EDITORIAL
Empowering the enterprises
Getting independent directors on the board of public sector units is fine, but the Prime Minister will need to convince his alliance partners first More

ECONOMY
For real inclusive growth, get rid of corruption
If all these years of Planning have not created significant infrastructure, corruption and lack of accountability are to blame. Eliminating corruption should also be a chief target of the Budget if the aim is to correct the uneven economic growth and make GDP growth truly inclusive. More

TAXATION
ESOP fable — the tree-fruit debate
Capital which produces income is like a tree and income is a like a fruit and, hence, the tree ought not to be taxed. More

A proposal that hampers business reorganisation
In the past several years, the Government had taken conscious decision to make business reorganisation tax neutral. Conversion of partnership into a company was considered not liable for capital gains taxation from 1998 onwards. The term ... More

Trust dilemma
Budget 2007 has changed the norms for registration of trust or institution. At present, the Commissioner of Income-Tax may condone the delay in seeking registration by charitable trusts and institutions. Retrospective registration can be granted ... More

The safety valve concealed
There is a safety valve for avoiding penalty proceedings even if a false return was originally filed — a voluntary disclosure can be made in the assessment proceedings or a revised return filed disclosing the correct income. If assessment is ma de on the basis of such disclosure or the correct revised return, penalty cannot be imposed, says H. P. RANINA. More

BREWERIES
Spirited battle over tariffs
A spirited brawl is on between India, on the one side, and the US and the European Union (EU), on the other, over what the rich world alleges as a major market-access barrier by India because of its high ... More

INTERVIEW
A Budget boost for infrastructure financial products
Innovative products, such as takeout financing, structured financial loans and securitisation, have not been extensively used in infrastructure financing. MR MANAV BANSAL, ASSOCIATE DIRECTOR, PRICEWATERHOUSECOOPERS PRIVATE LTD, CH ENNAI. More

LETTERS

Irrigation projects

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Long on intent, short on content