Saturday, August 24, 2013

ICL >Competition (Commission of India or...) - Law v Ass ; BS >Stagflation ! ; DTC

TNN | 49 min ago|Many residents' welfare associations could form a confederation to fight for the rights of citizens of Bangalore on a united platform.

@ in India >

".... It is also a lament for languages that are headed for oblivion."
The write-up representing a review of the unique book on Indian languages does make for an interesting  introduction; prompting those , even though in a minority, having mind and time to get hold and give it a reading.
In this context, a detailed account of certain other related but aspects of more concern, for instance what is their  respective or relative status of importance attached / accorded officially vis a vis the Indian Constitution for several  of its purposes namely, legislation, judiciary, so on, at least a cursory glance of the material collated and posted on the popular website  @ in India >may be found to come in handy; also prove a worthwhile supplementary read. 




A Top-up >

Current trend may reverse


A big regulatory hole

I-T dept goes for tech upgrade to tighten tax net

In 2012-13, the Centre's tax to-GDP ratio stood at 7.8%

<A senior income tax official said currently, data didn’t move seamlessly because modules added through the last 15 years such as e-filing, central processing centre for returns or for tax deducted at source (TDS) use different technology platforms . “Now, we are rebuilding everything and putting everyone under one structure.” The human resources system was also being integrated to make details on postings and profiles of officers accessible, the official added.>

<> The common grouse against or painful experience invariably met with, especially after the Department went hightech, is the inaccessibility or unapproachability of Officers by taxpayers in case of need; say, for direct enquiry re o/s refund, or receipt of itr V sent to CPC, and the like. Particularly because the facility of online info. claimed to be provided never clicks or works, more often than not is unavailable. In today's scenario, the most preferred convenient mode, besides telephone, is e'mail. As such, the real need of the hour and what is more important is not details of the postings and profiles but additionally  the personal /direct e'mail Ids of every one of AOs to his higher-ups - up to the level of CITs for expeditious communication.


DTC Bill – Why Nothing Occurred on 22, AUG 2013?

xcerpts >

A. [2012] 208 Taxman 145 (ART)/[2012] 23 182 (ART) - T.N. PANDEY
Whether Dtc Bill, 2010 is Ready for Introduction in The Parliament in Monsoon Session

B. Article 265 of the Constitution of India provides that "No tax shall be levied or collected except by authority of law". In its decision in the case of ITO v. Bachu Lal Kapoor Kewal Ram [1966] 60 ITR 74 , the Supreme Court said that "the Act does not envisage taxation of the same income twice." This view was again reiterated by the Supreme Court in the case of Laxmipat Singhania v. CIT [1969] 72 ITR 291, where it has said that it is fundamental rule of the law of taxation that unless otherwise expressly provided, income cannot be taxed twice.
Thus, if the same income is taxed twice, it would be against the Constitutional mandate of Article 265.

<> BS> Is India facing stagflation?

Read/ Listen to Sean's voice (of Prophesy)!

The write-up,may be,in its own right,is thought provoking; albeit the indomitable
poser has been persistently haunting our nation just as around the globe for years now. That it has been so might be evident by having a fresh look at the publicity in the media through expert articles, so on.

For a quick picture, refer the articles @ EC (see the link above).

If not understood, have a discussion with more knowledgeable !!!

By the way, for the investing community,-

A Feedback; this time a loaf of bread from Bible !

Any(like)thing or (com)parable in any of our say, scriptures !!


  1. What is Inflation, Deflation, Stagflation, Hyperinflation

    Stagflation refers to economic condition where economic growth is very slow or stagnant and prices are rising. The term stagflation was coined by British ...
What is Stagflation :

Stagflation refers to economic condition where economic growth is very slow or stagnant and prices are rising.  The term stagflation was coined by British politician Iain Macleod, who used the phrase in his speech to parliament in 1965, when he said: “We now have the worst of both worlds - not just inflation on the one side or stagnation on the other. We have a sort of ‘stagflation’ situation.”    The side effects of stagflation are increase in  unemployment- accompanied by a rise in prices, or inflation. Stagflation occurs when the economy isn't growing but prices are going up. At international level, this happened during mid 1970s, when world oil prices rose dramatically, fuelling sharp inflation in developed countries.

As since posted:

<> The write-up, may be, in its own right, is thought provoking; albeit the indomitable poser has been persistently haunting our nation just as around the globe for years now. That it has been so might be evident by having a fresh look at the publicity in the media through expert articles, so on.

By the way, for the investing community,- here is a Feedback, this time a loaf of bread from Bible!

To Watch/listen to the now popular Sean’s eminent Presentation, click HERE > ‘The Biblical Money Code’.

No doubt, any(like)thing or (com)parable is available in plenty in our own -say, scriptures- for those who have the mind and time to scout around and locate !

<2. On Wealth (76)
This chapter is a treatise on wealth, which reminds us of Adam Smith’s “Wealth of Nation.” According to Valluvar wealth is productive of the joys of this world. “Wealth makes people important. Wealth acquired with proper means will yield virtues and happiness; All despise the poor, but all praise the rich; All honor the poor man when he become rich; Wealth like taxes belong to the government; There is no sharper weapon than wealth to destroy the arrogance of one’s enemies. If wealth is used for noble purpose, it will earn peace and prosperity. The rich man glitters in the brightness of wealth. He enjoys life and visits places he likes in countries far and near.” Valluvar says that acquisition of wealth is important, and not to be despised. In chapter 101, Valluvar speaks about wasted wealth. “He who hoards wealth and does not enjoy it or utilize it to benefit others, is as good as dead, and his wealth is a waste”.

In Kurals 215, 216 and 217 Thiruvalluvar presents three similes: First, just as the village lake (pond) is filled with drinking water so also is the great wise man endowed with wealth for the world; the second is, if wealth is in the hands of a man of propriety it is like a fruit-bearing tree ripe at the centre of the village; and finally, wealth in the hands of a great man of dignity is like the medicine from an unfailing tree.>

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