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Thursday, April 23, 1998
  Galleries take the publishing plunge
A new gallery, the Art Inc, has opened at Shahpur Jat in New Delhi with a book on three artists -- Himmat Shah, Amitava Das and Valsan Kolleri, each from a different generation. The book has been written by Roobina Korode, who is a lecturer at the Delhi Art College.
  Employers may be sitting on your tax money
This is meant for those employees who know or at least suspect that something is fishy about their employers as far as income tax is concerned. For the benefit of such employees, a senior official in the income tax department explains the ramifications of the most serious default regarding tax deduction.

Dark clouds, silver linings
The doors of the University of California, America's premier public university, are being slammed shut on racial minorities, thanks to the state's ban on race-based discrimination. The number of blacks admitted to the University of California's flagship campus at Berkeley fell by 57% this year -- the first year in which students are being admitted without regard to race -- and the number of Latinos by 40%, according to statistics released on March 31st.
SC ruling on taxation can be misused by politicians, bureaucrats
High courts in the country cannot entertain writ petitions claiming refund of tax money that the courts or tribunals have struck down as illegal. The Supreme Court has held this in the case of Union of India vs Orient Enterprises. The pronouncement by the apex court promotes financial immorality by ruling politicians and bureaucrats and gives them a handy tool to first take away the money of citizens through illegal taxes and then retain that money in the government's coffers for several years.


LIC

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Zen diesel model likely to cost more
Maruti Udyog plans to price the diesel Zen around Rs 80,000 more than its petrol version. This means that the vehicle will have an on-road price in Mumbai of nearly Rs 5 lakh. The diesel Zen is being deliberately priced higher so that its petrol sibling is not cannibalised in the bargain.

Duff & Phelps assigns AA- rating to Krishna Filaments debt plans
Duff & Phelps Credit Rating India Private Ltd has assigned AA- ratings to the Rs 30-crore preference share and Rs 30-crore non-convertible debenture (NCD) programmes of Krishna Filaments. The ratings of both the debt programmes take into consideration the operational efficiency of the company in manufacturing and selling synthetic ropes in both the domestic and international markets.

 


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