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FINANCIAL SCENE
Flattering growth but risks ahead
A prolonged slowdown in advanced countries will have an impact on manufacturing and services sectors

LIC pension funds — IRDA clarification
The recent clarification by Insurance Regulatory and Development Authority Chairman that the Life Insurance Corporation of India did not break any rules and certainly it would not transfer money from one account to another in violation of the ...

TAX FORUM: QUESTIONS & ANSWERS
Donation to charities — doubts over approval
QUESTION: I invite your reference to Sec. 80G(5)(vi) of the Income-tax Act which now reads as follows: “(vi) in relation to donations made after March 31, 1992, the institution or fund is for the time being approved by the ...

TAX FORUM: QUESTIONS & ANSWERS
Whether politics is a profession
QUESTION: There is a recent decision of the Tribunal reported in Dy. CIT v Ms. Mayawati (2010) 7 Taxmann.com 45 (Delhi-ITAT), which spares liability on gifts received from the admirers of a politician on the ground that there is no quid ...

TAX FORUM: QUESTIONS & ANSWERS
Salary sector not better off
QUESTION: What are the changes proposed in the Direct Taxes Code Bill in respect of salary sector? ANSWER: Transport allowance, place allowance, contributions to approved provident fund, pension fund and superannuation fund ...

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