 |
| Monday, November 6, 2000, Chandigarh, India   
|
Casting vote from the drawingroom CST Act needs
to be
amended Plan to privatise
banks
opposed Bewildered,
they
touch the mouse
Three more
airlines to take
off
Where’s civilised England? |
|
|||||||||||||||||||||||||||||||||||||
PC
doctor’s surgery Twins’
parents in TV deal
More a technical correction than a
rally
Pact on 4G wireless
broadband signed DD, Satyam tie up Site on Satyajit Ray
|
|
Casting vote from the drawingroom THIRUVANANTHAPURAM, Nov 5 — Perhaps a few years hence, your choice of candidate will be just a click
away. You’ll be able to elect the rulers without leaving the comforts of your drawingroom and free from serpentine queues and deafening cacophony. One can also be assured that there will be no booth capturing, impersonation and poll violence. Besides, security personnel will be saved the
bother. If one is illiterate, he can spell out his choice before the multimedia-connected personal computers, and push the button. The vote is cast, it’s as simple.
“More importantly, in a country like India where elections are imposed every two years, the massive cost of holding elections can be cut by one-tenth when Internet voting (I-vote) becomes a reality,” says IVL India Managing Director Sunil
Gupta. IVL India has bagged the contract for software development and its marketing in the country from University of Osnabruck, Germany, the leaders in
e-democracy. The idea was conceptualised by Prof Dieter Otten of the university, who is regarded as one of the tallest visionaries in e-democracy, and his research team has given the final shape to the
idea. Making the vote via World Wide Web (WWW) a reality, the idea was first experimented with in the university town of Osnabruck. Those studying at the university voted within the framework of the “Strategic Initiative: Elections via the Internet” for the student
parliament. “The idea and concept will be of the university and they have a patent. But the development of the software will be entirely with our firm,” Gupta
said. Secondly, the Indian firm would push the idea through political and official echelons and the delegation, comprising Dr Otten, was here to meet ministers and Election Commission
officials. Prof Otten said the project, totally funded by the Federal Government of Germany, was in its advanced
stages. The first target will be the European Parliament elections in 2004, which the research group wants to prepare for a series of tests in municipal elections in Germany, France, Greece, Britain and
Italy. The first major task about I-vote is to ensure the identity of the voter to avoid forgeries. Digital signature and details encrypted into the card will ensure
that. A major hurdle on the path to the I-vote is its lack of secrecy as it was on the WWW. But according to the researchers, the vote could be read only by licensed and authorised persons.
Dr Otten said as servers were accessed from outside, the virtual ballot boxes would be made safe through other software.
On the problem of shortage of PCs in countries like India, he said common ballot booths could be set up and kiosks could even be used for voting. “And there will be options in all languages.”
— UNI
|
|
CST Act needs
to be
amended SEVERAL provisions of the Central Sales Tax Act, 1956, have come to be regarded as most irrelevant and irrational statutory rules in the present context. Instead of serving any purpose for the revenue they have become the source of avoidable harassment to the trade and industry. Unfortunately the Central Government seems to be paying no
attention to the difficulties arising out of the implementation of 45 year old enactment as no
efforts have been made to review the antiquated regulations relating to inter-state sales tax. One of these laws can be found in the provisions contained in sub-section (4) of section 8 of the Central Sales Tax Act, 1956 read with rule 12 of the Central Sales Tax (Registration and Turnover) Rules, 1957 which oblige every registered dealer claiming the benefit of concessional rate of tax payable on inter-State sales to furnish to the sales tax authorities a declaration or a certificate in form ‘C’ and ‘D’
respectively. Reading carefully section 8 of the Central Sales Tax Act, 1956 one finds that the Union Parliament intended to keep the transactions involving inter-state sales into two categories for the purpose of applicability of rate of tax. The first part relates to those dealings where a dealer sells goods in the course of inter-State trade or commerce either to a registered dealer or the Government and the usual rate of tax provided is 4 per cent
(concessional rate of tax). The second category takes in those inter-State transactions where the usual rate of tax is 10 per cent (higher rate of
tax). What sub-section (4) of section 8 lays down precisely is that the benefit of concessional rate of tax on inter-State sales will become admissible to a dealer selling the goods only if he furnishes to the sales tax authorities a declaration duly filled and signed by the registered dealer to whom the goods are sold. In the other hand if the buyer happens to be the Government (whether Central or the State) not being a registered dealer a certificate is required to be submitted to the taxing authorities in support of the claim of concessional rate of tax. Sub-rule (1) of rule 12 of the Central Sales Tax (Registration and Turnover) Rules, 1957 which corresponds to section 8 says that the declaration shall be in form ‘C’ and the certificate, in the event of goods being sold to the Government, shall be in form
‘D’. Now let us have a look at the procedure laid down in these rules governing the issuance of form ‘C’ and ‘D’. A registered dealer who buys goods in the course of inter-State trade or commerce on payment of concessional rate of 4 per cent tax is required to obtain form ‘C’ from his assessing authority. This form C’ is then supplied
to the selling dealer against the sale of goods where the benefit of concessional rate of tax is claimed.
Thereupon the selling dealer is required to submit the ‘C’ form to his assessing authority alongwith the periodical returns. It is thus seen that form ‘C’ originates from the sales tax department of one State and reaches eventually to the sales tax department of the other State through two registered
dealers. This process consumes a considerable time which not only delays the assessments but gives rise of several disputes. The objective behind this lengthy exercise is only to ensure that the sale of goods has taken place between two registered dealers or between a registered dealer and the Government. Now-a-days several other means of verification are available to the State Government by which one can easily ensure that the benefit of concessional rate of tax on account of sales to another registered dealer has been rightfully claimed in the returns. Even otherwise if a particular document is routed through more than one person as is happening in the case of form ‘C’ there would always remain a scope for misuse. |
|
Plan to privatise
banks
opposed CHANDIGARH, Nov 5 — Bank employees will observe a strike on November 15 against the proposed privatisation of public sector banks.
Coming down heavily on the policy of the government to privatise public sector banks, the All India PNB Officers’ Association at its general body meeting held here today, said that the step taken by the government in this regard was misleading the public from realities and the government needs to come forward to protect the interests of the public sector
banks. The meeting, which was attended by PNB officers from J&K, Himachal Pradesh, Haryana and Chandigarh, was presided over by Mr. KD Khera, General Secretary of the association. Mr Shah Nawaz Hussain, Union Minister of State for Human Resource Development, was the chief
guest. Various issues like privatisation of the insurance sector, the voluntary retirement scheme, move of the government to roll back the retirement age, promotion policy of officers etc. were
discussed. Expressing concern over the increase in the non-performing assets of the banks, the association also demanded an amendment to the law relating to the recovery of debts.”The recovery procedure is very slow and ineffective. In case of big defaulters especially, more effective steps need to be taken”, said Mr Khera. He said that the RBI should also release the list of those defaulters against whom suits have not been
filed. The association demanded the credit deposit ratio should be improved, besides appointment of Directors on the boards of nationalised banks and a review of the policies to help
agriculturists. Mr Hussain assured the meeting that he would put forward the genuine demands of the association before the Finance Minister. He said that the employees had the right to fight for their rights but observing a strike might lead to loss of several crores to the nation, apart from causing inconvenience to the
public. |
|
Bewildered,
they
touch the mouse BANGALORE, Nov 5 (UNI) — Anxious, bewildered, thrilled and can’t believe it. It is a mysterious
world. These are the expressions common on the lips of nearly 30,000 children, mostly studying in government schools in and around the city, having got exposed to the world of computers at the five-day IT.com, which concluded here today.
A pioneering effort to set up 300 terminals with eight mb connectivity, which even the sophisticated and state-of-the-art Indian Institutes of Technology do not have, has exposed the students to the world of the Internet. Some students compared it to the tales of Alibaba, which either they had read or heard in school.
“We have exploded the myth that computers and the Internet are only for the haves”, Information Technology Secretary Vivek Kulkarni, satisfied with the turnout at the show, told newsmen here
today. “I had never touched a mouse. I was scared to handle it. But once I got over the fear I didn’t realise how the one hour flew away”, a thrilled school student emerging out of the Sree Kanteerava Stadium, the venue of the Student Internet World, said. The feelings were shared by many other students and
teachers. A girl, who is a regular Internet browser, was amazed at the speed with which she could access information. “I can’t believe that Internet access could be so fast. I have to wait for several minutes to log on to the site. Here, wooph, it is there at the click of the mouse. I wish I get the facility at
home”.
|
rc
Three more airlines to take
off THREE new airlines will operate flights on domestic sector early next year to challenge monopoly enjoyed by Indian Airlines and Jet Airways. The new carriers to claim a slice of traffic are Crown Air, North Star Aviation and Royal
Airways. The new airlines have completed all formalities for operation. Some senior officials have crossed over from operating airlines to new carriers. Other staff, particularly cock-pit and cabin crews, will be finalised
shortly. There is an optimism that at least 6-7 per cent passenger growth next year will require more flights on several sectors, particularly the “golden sector”. Indian Airlines, which enjoys 62 per cent traffic in domestic skies, has already started
additional flights on the Delhi-Bombay-Delhi route. As of now, there is no need for advanced booking because passengers are able to get seats on arrival at
airport. While new airlines are confident of grabbing sufficient traffic to stay afloat in the razor-sharp competition IA and Jet Airways feel that serious competition will help serve passengers
better. The airline trade is complicated. The over-head expenses are enormous and it is difficult to cut even without sufficient load of passengers on board the flights. When the government announced open sky policy about a decade ago, there were more than dozen airlines in the skies. But within five years, majority of them had to close their “shop”. It will be worthwatching how these new carriers
function. The year 2001 will see some new operators on the international sector also. With this, more problems will surface as there is hardly any improvement in infrastructure at several
airports. Lax maintenance Sky race
|
ty
by R. N. Lakhotia Q: Kindly give complete information regarding rebate and Tax on the following
points: (i) What is the limit of deduction on Interest on NSCs? (ii) What is the limit of rebate on Int. of NSCs shown as investment after which interest on NSCs is
taxable? (iii) Is repayment of loan from PF or PPF is eligible for
rebate? (iv) My Gross total income is 105000 Exempted HRA (—) 10080
94920 Kindly suggest the rate of standard deduction will for
me. Ans: The maximum limit of deduction in respect of interest on NSC together with other designated exempted interest income is Rs. 12,000 u/s 80L of the Income-tax Act, 1961. The accrued interest year after year is eligible for tax rebate u/s 88 of the Income-tax Act, 1961. The rebate is permissible @ 20 per cent of such accrued interest. The repayment of loan from provident fund or public provident fund is not eligible for tax
rebate. Q: I am a government employee. I have been suffering from heart problem since 1992 and is under treatment from a private doctor. I have to take regular medicine which cost seven to eight hundred a month. I get Rs. 250 p.m. as medical allowance. Can I take any rebate? How much and under which sanction. Please guide. Ans: You cannot get any tax rebate or deduction in respect of the payment made by you for medicines etc. for the heart trouble which you are having. Even the medical allowance of Rs. 250 received by you from your employer will be fully taxable under the Income-tax law because as per rule 2BB the medical allowance is not exempted in
income-tax. Q: May I request for further clarification about whether a person having a PPF account in a Post Office, could have another A/c in a State Bank of India? While understanding that eligibility or rebate under the relevant section would be only on Rs.
60,000. Further if one can open the above two accounts, would the total deposits in the two accounts be allowed Rs. 60,000
each. Ans: As per the provisions of the PPF Act a person can open only one PPF A/c. This account may be opened by you either in a Post Office or with State Bank. If you open two separate accounts you will not be eligible to get interest in respect of the other account. It is advisable that you please open just one PPF A/c to avoid any problem at a letter
state. |
sti
Where’s civilised England? LONDON: Ismail Merchant, the Indian half of the famous Merchant-Ivory filmmaking team, has lamented the loss of an England that was imbued with elegance, learning and good manners, only to be replaced in the 21st century by a greedy, push button
society. He told The Sunday Telegraph in an interview that Britain’s ruling class today “is the lower class — who talk about making money in the city and football. That is what England is truly about today...what made a person civilised in the past is reading, writing and the art of conversation. Now that’s all
changed.” Merchant, whose latest film — an adaptation of the Henry James novel “The Golden Bowl” — opened in British cinemas last Friday, has joined a rapidly expanding group of intellectuals dismayed by the all too evident decline of standards in a country that used to rule the world.
— IANS PC
doctor’s surgery BERLIN/WASHINGTON: Picture this: you’re working at your computer, and all of a sudden, a programme shuts down for no
reason. Then, a friendly message appears, asking you to reboot the machine. “Unsaved data will be lost,” says the error message. Does that mean that everything you worked on during the past hour — and forgot to save — will be
lost? That may depend upon whom you ask for assistance. A growing number of users around the world are finding that calls to local “PC doctors” can help. Even computers deemed to be beyond repair can sometimes be resuscitated by professionals — saving all data that was stored on the
computer. Services like Jumper have cropped up in cities around the world in recent years, largely to fill a demand among computer users for a user-friendly, hands-on service that goes beyond that provided by most PC retailers. The number of first-time computer buyers continues to skyrocket, and services like Jumper can be a lifesaver to novice computer users faced with potentially work-stopping PC
problems. Finding local PC help is generally easy. A growing number of individuals and small companies offer an emergency computer service. Many are listed in local telephone directories and in Yellow Pages under headings such as “computer repair” or “data processing -repairs and service.”
— DPA Twins’
parents in TV deal LONDON: The parents of the conjoined twins Jodie and Mary are to be paid £ 150,000 ($ 223,200) in a television deal to tell their
story. The proposed arrangement, confirmed by Granada TV, came as senior judges last night rejected last-minute legal moves that could have halted an operation to separate the
twins. Doctors at St Mary’s hospital in Manchester plan to carry out the surgery to separate the two girls, which will result in the death of Mary, on
Monday. After the surgery is complete, and if they can lift an anonymity order granted to them earlier in the year, the parents will sign a contract with Granada to appear on Tonight with Trevor
McDonald. The decision to sign a deal had been an agonising one for the family, who are from the Mediterranean island of Gozo. They are anxious not to be seen to be profiting from their misery, and will put the money from the deal into a trust to pay for Jodie’s care. |
co
More a technical correction than a
rally THE stock market made hefty gains last week. The Sensex was higher by 206.58 points (5.54 per cent) and Nifty by 63.35 points (5.37 per cent). The rally was broad-based covering both old economy and new economy shares. Purchases were made by financial institutions and FIIs. It covered even such neglected sectors as cement and auto ancilliaries. Larsen and Toubro, which had announced disappointing results for the second quarter, moved up from Rs 145 to Rs 160. But the
interesting question is: will this rally
persist? I think that this bullish trend was more in the nature of technical correction than a genuine upward movement dictated by fundamental factors. This week’s trading will provide a clear indicator. I believe that while the market has bottomed out, the market indices will move in a narrow range of 3700 to 3900 points on the Sensitive
index. The second quarter results have been lower than expectations, and it seems almost certain that the third quarter results are likely to be even lower that the second quarter results. The new economy shares and a few select old economy scrips will continue to perform well but the market as a whole is likely to be as sluggish as
now. Last week, a number of companies announced their results. Reliance Industries’s second quarter results were moderately good. The net profit was higher by 20 per cent, but it was largely due to change in the method of providing depreciation. But for this change, the net profit would have been higher by a mere 7.8 per cent. The operating margin has also come down to 15.9 per cent from 19.9 per cent. The company also gained by foreign exchange changes in the dollar price (as against the Indian rupee) when it brought back its foreign deposits to India as required by the Reserve Bank order for all Indian companies. The next quarter results are likely to be
lower. A number of companies from our region have announced their second quarter of results. The Vardhman group of companies, as usual, have maintained their rate, though the net profit of Vardhman Spinning has come down to Rs 5.58 crore from Rs 10.05 crore for the corresponding period last year but the company is almost certain to maintain 42 per cent dividend announced last year. Mahavir Spinning’s net profit is
highly slighter than for the corresponding period last year and its six month’s net profit stands at Rs 29.85 crore as against Rs 26.54 crore last year. Its SPS is expected to be higher than Rs 22.30, the last year’s
EPS. Vardhman Polytex has also higher net profit of Rs 9.06 crore as against Rs 6.66 crore for the first six months. Its EPS is aso expected to higher than Rs 16.15 announced last year. The Vardhman group of industries are very well managed and provide safe and rewarding investment proposition. Vardhman Polytex is quoting around Rs 31 or so, and the other two (Vardhman Spinning and Mahavir) are quoting around Rs 42-44 range. The dividend for all the companies is, as declared last year, is 42 per cent. The investment in these companies provide safe and income-tax free divided of 10 or more than 10 per cent return. These companies have large free reserves and hold distinct promise of appreciation in their market prices in good market
conditions. The Nahar group of industries have also announced their results. Nahar Spinning has done well, with its net profit soaring to Rs 2918.89 lakh (as against Rs 1733.57 lakh for the corresponding period last year) for the first six months. Its EPS is likely to be higher than Rs 16.87 declared last year. The other two companies of the group, Nahar Industrial Enterprises and Nahar Exports have improved their profitability but are much below investment norms for long-term investors even now. Nahar International and Nahar Sugar are still in the red.
|
cr
Pact on 4G wireless
broadband signed BANGALORE, Nov 5 — India’s IT capital has been chosen as the global test bed for the future generation of wireless broadband — 4G or fourth
generation-technology. It is believed that application of 4G could have a profound impact on the rural
illiterate. Karnataka’s IT department and the Central Government’s Software Technology Parks of India have signed a memorandum of understanding with Charmed Technologies, a spin-off of the MIT-Media Labs and a pioneer in wearable wireless broadband devices, to test and develop the world’s first 4G
project. If successful, “we can provide broadband wireless for the price of a normal telephone call. Even illiterate people will be able to access the Internet to buy, sell, loan or swap any commodity they want,” Alex Lightman, CEO Charmed Technologies, told IANS. The MoU will facilitate Charmed Technologies to tie up with 10 to 15 major companies in the wireless arena for the pilot project. “Third generation or 3G is actually 2G and it is too costly. Any country that adopts wireless broadband at the lowest cost, will win. That it is the aim,” Lightman
said. The current craze about 3G, he says, is misplaced. The third generation networks provide one MBPS connectivity and that also not to each user, but to a large bunch of them. It is marginally faster than an ordinary modem. “What we are creating is much more than that. And, it can be worn on the body too,” he
said. For India the advantage is that it will take a leap over 3G. “The objective of the government is to reduce the intermediaries and cut costs for the common man. We are strong in software and embedded software. Our association with this pilot project will help us get into hardware at a low cost,” Vivek Kulkarni, Secretary Karnataka IT Department,
said. Charmed Technologies will bring in the technology to be used on STPI’s readymade infrastructure. The operational expenses will be borne by STPI keeping in line with the mandate of the software technology parks to support growth of the technology sector,” B.V. Naidu, Director STPI, added.
— IANS DD, Satyam tie up
CHENNAI, Nov 5 (IANS) — All pervasive and ubiquitous are the words that the industry used to describe the Internet at the two-day media convention organised by the CII here this
weekend. It would be a facility that will soon come to be used in every walk of life, CEO of Satyam Infoway R Ramraj said at the
conference. And what better way to reach every nook and corner of India than through India’s national television channel Doordarshan. Satyam Infoway has announced that the company has been entrusted with the job of web-enabling Doordarshan. Satyam and Doordarshan together may also become the first to make the “last mile linkage” with the maximum audience and soon take the Direct-To-Home (DTH) service to the maximum number of viewers. In September Sify’s portal registered 105 million page views, Satyam
says. Site on Satyajit Ray CALCUTTA, Nov 5 (UNI) — The Patha Bhavan Society, an educational institution with which Satyajit Ray was actively involved in shaping his future, has launched a website to cater information about the celebrated filmmaker.
Www.geocities.com/amitbcd/satyajit_mela.html is the name of the website.
Mirtika Bose, a former student of the institution and who runs the website, said efforts were on to update information on
Ray. The website, which started functioning recently, invited suggestions from the public to enrich the information about different facets of Ray’s films, music, literary works, illustration and the trend setting work in the world of
advertising. The society, which runs two schools — one in the city and the other at Dankuni in Hooghli — will also organise the ‘Satyajit mela’ from January 6 to 17 next year to celebrate the 80th birth anniversary of Satyajit Ray.
The mela to be held at Rabindra Sadan from Januray 6 to 10 and January 12 to 17 at Dankuni where students, will offer an opportunity to interact and learn about the creativity of Oscar
winner. Free e-mail service CHANDIGARH, Nov 5 — USA-based website hosting company “i2k2 systems” today launched free e-mail and homepage services. A package of six websites have been released for the purpose.www.chdatnet.com will provide online free hompage service. The site will also have free mail ID of 6MB mailbox with the capacity of nearly 400 e-mails. Websites which will provide free e-mail service are www.indiaatnet.com; www.chdMAIL.com; www.delhiEMAIL.com; www.schoolsatnet.com and
www.lawatnet.com. |
bb
Inflation dips FIIs sellers IA fare |
 |
| Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Editorial | | Business | Sport | World | Mailbag | In Spotlight | Chandigarh Tribune | Ludhiana Tribune 50 years of Independence | Tercentenary Celebrations | | 120 Years of Trust | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
