Accountancy
Joint problems!
MYSELF and my wife bought a house in our joints names. The acquisition of the house was partially financed out of loan taken by my wife from her employer. She has quit her job. If I take a fresh loan in my name, will I get the tax rebate under Section 88 ?

Economy
Time to change lanes
Venugopal C. Govind on rejuvenating the country and reorienting the profession.

Information Technology
Netspionage coming of age -- II
William Boni and Gerald L. Kovacich on business, crime and security in the 21st century global marketplace.

Taxation
Arm's length price
THE Finance Act, 2001 has, for the first time, introduced in the Income-Tax Act, 1961, the concept of `transfer pricing'. This has been incorporated in Sections 92 and 92A to 92F of the Act. With cross-border transactions taking place on a large scale an d the electronic media taking charge of business transactions worldwide, the need for such provisions in the tax legislation has become inevitable. While the primary responsibility of determining and applying an arm's length price is on the assessee, sub -section (3) of Section 92C empowers the assessing officer (AO) to determine the arm's length price and compute the total income of the assessee accordingly, subject to the conditions provided therein.

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