ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Financing Regional Development at State Level-Case for a Location Tax

State Level Case for a Location Tax V D Lall The National Committee on the Development of Backward Areas has recently reported that the major Central government incentive for development of backward areas

Direct Taxes on Individual and Business Income-Economic Implications and Impact

It is good that the Finance Minister has not succumbed to the lobbies which were advocating an income-tax assessees and for a reduction in the corporate tax rate and some additional concessions for replacement of capital assets.

Changing the Corporate Tax Base

51 The Factory Act of 1881 had fixed the lower limit of employing child- ten at seven years. The working hours for children in the age-group 7-12 were fixed at nine. The Factory Act of 1892 increased the tower age limit to 10 years which was retained in the 1912 Act, Cf DR Gadgil, "The Industrial Evolution of India in Recent Times", Oxford University Press, 1948.

Structure of Private Limited Companies in Maharashtra-Ownership, Management and Finance I

Private limited companies are numerically the more important segment of the private corporate sector, but studies on their various aspects are few and even these are neither representative nor adequate. The Reserve Bank of India's studies on finances of private limited companies, for example, are restricted to the relatively large and generally better off companies, even though the bulk of private limited com- panics are small and do not do welt.

Poorly Chewed Cud

ample, Werner Levi's paper, dealing with the Shastri era, raises some very important questions about the shifts in Indian foreign policy but his treatment is sketchy and lacks depth. Rajan describes the diminution of India's role in world affairs in the post-Nehru era and identifies the various factors responsible for this; but, later, he returns to the familiar arguments that the objectives of Indian foreign policy remained unchanged and that "India continues to be genuinely non-aligned".

Who Are the Top Men

Who Are the Top Men? V D Lall Talking of Management, Administrative Staff College of India, Hyderabad ; Asia, Bombay, 1967, pp 133, Rs 12.50. THE importance of proper teaching of management techniques in India has by now been fully recognised. This collection of talks given at the Administrative Staff College by seven leading executives of Indian companies, mainly foreign-controlled (sic!), besides an ex- administrator and a veteran trade unionist, are a valuable addition to the increasing collection of literature on management. The great value of these talks on management is that they are based on the individual experiences of the speakers. In this respect, therefore, they are more useful than the usual text-book treatment, both to newer incumbents in the field and to those who, while in it, are not yet 'at the top'. Further, the book should be interesting not only to the specialist but also to the layman.

Taxation and Profitability-A Comparison of Business Houses

A Comparison of Business Houses V D Lall This paper examines the growth experience of the corporate private sector in India over the ten years 1956-65, focussing on turnover, profitability and taxation. The data analysed are for a sample of 257 manufacturing companies which account for 60 per cent of the paid-up capital of public manufacturing companies, excluding iron and steel and power companies, in the private sector.

Shifting of Tax by Companies

V D Lall This paper attempts to show, on the basis of a study of a sample of 257 manufacturing companies in the private sector, that companies have not borne any of the increase in direct taxes during the twenty years, 1946 to 1965. In spite of the increase in taxation, they have been able to not only maintain but actually increase their profitability. In other words, they have succeeded in shifting the additional tax liability more than cent per cent.

Tax Saving Effect of Development Rebate

The Development Rebate reduces the effective tax rate on companies well below the stand-ard statutory rate. An attempt is made here to estimate the extent of tax saving by companies through the Development Rebate. The estimate is based on data collected from the profit and loss accounts of 257 public manufacturing companies in the private sector for the period 1956 to 1965. During this period for the companies studied, Development Rebate averaged about 9 per cent of profits before tax. At this level, in effect, the Development Rebate conferred a tax saving equal to nearly 5 per cent of profits before tax and 10 per cent of tax liability.
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