BS , BL, Yahoo -Today's Sensationals.......

SG

NOC from respective financial sector regulator NOT required for transfer of shares from Residents to Non-Residents

< Foreign Direct Investment in Financial Sector – Transfer of Shares

< previous

 

Top-up Service Tax BL http://www.thehindubusinessline.com/economy/govt-on-overdrive-to-mop-up-service-tax/article5061957.ece?ref=relatedNews BL Oct 29 Disaster, or disastrous management? Handling Cyclone Phailin was a success story, but not the temple stampede in Madhya Pradesh. » A Common Sense Echo: Often, any disaster, not necessarily of the kind but all ultimately afflicting or crippling the economy, cannot be rightly prefixed with, - "natural". One (i.e. "disastrous management") is irrefutably the cause; the other (i.e . "disaster", unless the reasons were to be helplessly or hopelessly beyond human control ) is simply the consequence / result, in no small measure so as to be recused, of abject inadequacy of or deficiency in "management".   High Court orders forensic audit on NSEL e-series contracts The Bombay High Court has directed the Forward Markets Commission (FMC) to appoint within two weeks an independent agency, which will carry out forensic audit on the much debated e-series... »  <   Petition u/s. 397/398 cannot be dismissed for mere signature mismatch   < Previous BS Read More India as it is McKinsey pulls in a dazzling list of luminaries to write about India, but the results are mixed <  previous     Mihir S Sharma: Corruption and corrosion It is now clear that anti-corruption hysteria will hurt India more than any scam

Gold smuggling surges with govt's import curbs Apr-Sep seizures higher than in past 24 months; annual haul set to be 50% higher than total of past decade; at least 90% of illegal flow ... S Madhavan: Quo vadis, Goods and Services Tax? With so many detractors this vital tax reform is struggling against the odds Offhand > Pending the enactment on GST, one knows not as to how long the commercial and industrial sector, and, in turn, in no less measure the impacted consumers, would be obliged to keep holding the breath. Especially so, left with hopes on hopes in the interim, that the new legislation would usher in a new wave of developments for the better, and thereby put an end to the thus far obtaining woeful uncertainties and resultant endless but in fructuous litigation. The last reported development in the aftermath of the SC handing down its verdict on the much contested 'service tax' and 'vat' on so called 'construction' , having far reaching repercussions, it is feared, might continue to keep haunting the realty sector as well as its stakeholders alike. Even after the GST happens to be in place, the extant controversies, disputes and litigation wrt the present scheme of things could only be expected not to be finally settled in the decades ahead. Unless, of course, with a view to prevent that happening, in the new legislation, enough safeguards, etc., come to be provided in the form of rules to cover the past. Reference is to the like provisions in the form of in-built mechanisms, as in inter alia the law on income-tax; refer section 297 (Repeals and savings) and section 298 (Power to remove difficulties). Eminent Experts' insightful deliberations and incisive representations to and effective follow-ups with the government (s)/its empowered authorities, on a timely basis, should hopefully go a long way in averting the otherwise imminent fall-out problems galore waiting around the corner.             PF Protect your wealth with trusts Succession planning through this route is gaining traction, as more people prefer it to save tax and guard against tricky situations Beyond Business Humans can be irrational, and other insights < Xcerpts  Alan Greenspan, the former Federal Reserve chairman, writes in his new book, The Map and the Territory, that he has been thinking about bubbles ...  Alan Greenspan, the former Federal Reserve chairman, writes in his new book, The Map and the Territory, that he has been thinking about bubbles since the financial crisis of 2008. Specifically, he has been trying to understand why he and so many other economic forecasters failed to see the housing bubble that caused the crisis. The mistake, he writes, is that forecasters treated humans as rational decision makers - a functional fiction that no longer seems functional. But Mr. Greenspan sees a way forward: humans, he writes, are irrational in predictable ways. What economists like to call "the animal spirits" can be incorporated into economic models. "I have recently come to appreciate that 'spirits' do in fact display 'consistencies' that can importantly enhance our ability to identify emerging asset price bubbles in equities, commodities and exchange rates - and even to anticipate the economic consequences of their ultimate collapse and recovery."

< >>Sporadic Reaction (simply to provoke independent thoughts) "....forecasters treated humans as rational decision makers - a functional fiction ...." On this and several other similar observations  at least a few, if not all, may only agree to disagree, or might not be able to persuade self to see eye to eye with the writer. If perceptively analysed one will readily realise and appreciate that there are so many underlying imponderables , replete with faulty logic. Strutting out is the patent misconception; in that, it assumes, seem to be wrongly so, that the "forecasters" belong to an exclusive class, separated from the rest of the 'humans' around. Further, it fatally ignores the fundamental reality that ‘forecasters’, by and large, are self-promoters (of their own interests) , suffer from the malady of 'improbity' having its roots in the woeful 'vested interests', and the like. Obviously, the topic is worth an in-depth deliberation; simply for academicians and sociologists to, if aiming at nothing else, for improving upon one's own power to ‘think’,- to be precise  ‘rationally’ and logically.     Your private data may be online, courtesy govt Some depts have posted bank account & income details on net for transparency; experts cry privacy breach ADD-ON BS EC wants citizens' data taken off states' portals Meanwhile, EC working on creating a national database of electoral rolls to create common standards BS Oct 29 Saving privacy as we knew it    <>Reactions (from a commoner) :   The recommendations of the special committee on "Privacy Principles" prima facie make an ideal sense, from the view point of the societal discipline; sooner they are incorporated the better, that is-in the pending enactment, brought into force, also scrupulously implemented, acted upon and enforced, all the more importantly also kept under perennial monitoring. As then alone the whole exercise could be expected to purposefully serve the objective behind. In retrospect, the concept of 'privacy' has in the recent years been almost forgotten or  blatantly ignored, in every one of such new rule or regulation mindlessly and recklessly thrust upon the people , and ‘mandated’, all  in the name/under the guise of what is graphically called ,-  'proving identity'. To put it simply, - the sage-old introspection on,-"who am  ‘ I’ ",- though not with any successful outcome for ages,- has come to be viewed or looked upon giving it a totally different meaning/complexion. Sadly so, from an exceptionally and predominantly 'mundane outlook'- that is, with not merely the main but with sole and exclusive focus and undue thrust,  miserably on the 'money' (financial) aspect. Now, out of the listed, the two namely, - COLLECTION LIMITATION * Only necessary data required for the purpose would be collected; reduces possibilities of misuse AND PURPOSE LIMITATION * Data collected should be adequate and relevant to the purposes for which these are processed,- are so vital as deserve to be accorded the utmost attention and duly taken care of. Going by what Mrs Grundy says, the lately brought in and pressed-for multiple tokens of ‘identity’, in the form of 'identity proof',  address proof', or the like,– last one being ‘aadhaar’, seem to have , in turn, instead of serving any profoundly  social purpose, messed up/muddled the whole societal scenario beyond recognition. In the process, what really has transpired is that, the  'freedom' of citizen , though not one of the freedoms specified in the nation's basic charter but being the root of them all, - namely, 'personal' freedom has come to be tragically butchered at the alter of the nation.   Sideline >   < How one billion people in India will receive a new identity EY    Opinion Columns T. B. KAPALI RBI’s just tinkering around The central bank keeps supplying liquidity at market rates. So, there is little chance of its repo rate moves leaving an impact. » <> Why to complain or blame RBI or anyone else? Posers >Is not the very personality or trait of each one of us, so dubbed  'human',  basically and profoundly a 'split' one; mutually self-contradicting as was ordained to be forever ! Does not the bottom-line of the whole thinking, underlying each and every word, nay letter, in the write-up makes a clean breast of the whole truth and nothing but the truth behind.   S. MURALIDHAR Will Formula One drive into India in 2015? Worries about the future of Formula One in India refused to go away even as celebrations followed Sebastian Vettel’s victory at the third Indian Grand Prix here on Sunday. The win helped Vettel clinch his fourth Driver’s Championship title,... » Editorial Food for monetary thought Y India’s Economy: Why Raghuram sees hope  SEBI seeks tax incentives for REITs US tapering: FM wants regulators to take preventive steps An Explanation of Fed Tapering and its Impact on the Markets - Bonds >>>>>>>US Tapering ON THE NEWS