Monday, September 21, 1998
Abolition of gift tax was a blunder
The immense possibilities of tax savings and consequent loss of tax revenue by the recent abolishment of gift-tax are yet to sink in. When the finance minister Yashwant Sinha suggested in the Finance Bill, 1998, that they should be donee-based and not donor-based gift tax, initially, there was the usual criticism.
Gujarat Flouro on buyback course
While the promoters of India Glycols have something to cheer about after the sale of their stake in Insilco to Degussa of Germany, the shareholders of India Glycols also have something to cheer about. The performance of the company has been stable despite the extremely unstable environment for both MEG, a major product, as well as its main raw material, molasses.
Current exchange rate is defunct
The idea that market forces determine value of a commodity, money in case of exchange rates, is romantic. Those who have been enjoying this romantic trance for quite sometime now find it difficult to get over the feeling.
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