The recent boom in strong markets appears to have convincingly won the confidence of retail investors. Capital inflows and diversion of savings from fixed deposits by retail investors would provide strong impetus to the share market. In any case, real estate has become too expensive for most investors to shift to.

Good Credit card management is not everyone’s cup of tea. But, while using this plastic money, care and caution hold utmost importance. Wise handling of monetary matters always acts a good opportunity for credit card holders, but one needs to be wary of certain specific points. Let’s see what these vital points are.

With 2007 ending with highest annual gains in the indices, and reality sector prices sky rocketing, Investment in Bank fixed deposits are not likely to pick up at least till first two calendar quarters of the year.

Year 2006 saw the markets tumbling from 12000 to 8800 levels, though the markets partially recovered their losses in the later part of the year. Year 2007 witnessed the markets touching new highs. The year also would be remembered as one of the most volatile years in the stock market history of the country where gains or losses in a single day were equivalent to what were witnessed over 3 months in the past.

General elections in the country are due in 2009 as per schedule. The rumors were rife that the government would pre-pone the elections to some time in 2008. But with the dismal performance in Gujarat and not so happy going ons in Himachal, that seems to be remote possibility. Only the factor of surprise may force government to face elections in 2008.

It is quite common for Income Tax Officer to reject the books of accounts, as per provisions of section 145 of Income Tax Act, of an Assessee where he feels that the books of accounts don’t reflect true and fair picture of the business.

Such rejection by the Income Tax Officer has to be valid in terms of the law and not arbitrary. While rejecting the books, the onus is on Assessing Officer to place evidence on record for suspecting evasion of revenue.

Quite often we land into a situation where, the payer has deducted tax from the payment due but has not deposited the same with Income Tax authorities and not issued the TDS form. In this situation, many hapless Assessees are forced to shell out the amount again to the Income Tax Department. What is more irritating is that Assessee is forced to pay interest and penal dues too on the above sum.

Section 139A
of the Income-tax Act, 1961-Permanent Account number-Do’s and Don’ts while
making application for New Pan Card/Correction.

Important information
for persons making application for allotment of PAN (Form 49A)

Do’s