Wednesday, June 10, 1998
Finance Bill 1998: The key amendments
The Finance (no 2) Bill, 1998 provides that there will not be any change in the rates of income tax for individuals, companies and other income tax payers, for the financial year 1998-99 relevant to the AY 1999-2000. However, the personal income tax exemption limit will be raised from Rs 40,000 to Rs 50,000. Thus, all assesses having income over Rs 50,000 will have an income tax saving of Rs 1,000.
An indepth insight into patents
In his book "Gearing Up for Patents -- The Indian Scenario" Dr Prabuddha Ganguli brings out the importance of patenting to the Indian economy. This book is relevant considering the on-going debate for tighter laws for the protection of intellectual property rights (IPRs). The target audience is not just industry, but also the government, centres for industrial research and the technical manpower in the country.
Elgi Tyres disappoints market
The Elgi Tyre & Treads stock was over discounted just prior to the announcement of its annual results having appreciated by 50% from February 1998. There was a very strong opinion in market circles that the company would perform very well, given its business and the environment surrounding the tyre industry. It was well understood that with lower freight rates through much of last year truck fleet owners would not opt for purchasing new tyres rather they would fix older ones, which will increase the demand for retreaded tyres.
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