The Financial Express -- Economy

Friday, July 25 1997

Wealth tax liability under VDIS only from AY 1998-99

There will be no wealth tax liability under the Voluntary Disclosure of Income Scheme (VDIS) on assets specified in the declaration from the year of acquisition till assessment year 1997-98. The liability will arise only from the assessment year 1998-99.

Kabra comes out against cotton futures trade

Kamal Nayan Kabra, head of the committee which recommended futures trading in 17 commodities, has called for the withdrawal of government's decision to allow domestic futures trade in cotton, saying that it was, "buying unnecessary trouble".

House panel raps railway ministry

The Parliamentary Standing Committee on railways, in its seventh report, has rapped the railway ministry for not making the build, operate, lease and transfer (BOLT) scheme investor-friendly and pragmatic. The committee criticised the ministry for not making serious efforts in this direction despite the recommendation of the committee to this effect.

VDIS-'97 hearing put off to Monday

Trade Briefing -- Atma to explore Pakistan tyre market

South-east Asian health insurers face soaring costs

Israel to relocate more units to India

Mahathir lashes out at G-7 countries

The Index -- Essel Packaging

Corporate Briefings -- Colour-Chem to pay Rs 108 per share

Funds crunch, slowdown hit spinning industry

Bank frauds panel acquits Kapoor; Sawhney scribbles dissent note

Delegating authority via power of attorney

Reinsurance business to come under IRA purview

TN paging operators to square up wide area circle rights