MUMBAI: In A judgement that could have a bearing on the tax outgo of many stock brokers, the Bombay High Court on Friday ruled that depreciation cannot be claimed on stock exchange membership cards, while calculating tax liabilities. The I-T Department’s contention was that a membership card is not capable of diminishing in value due to its use, wear and tear and obsolescence. Counsel Vimal Gupta, assisted by advocate Suresh Kumar, who argued for the department, submitted that the card was a personal privilege, and not a licence or a commercial right. The stock broking firms, they said, were not…
Business
No depreciation on bourse membership card value, rules HC
Facebook
Rebiya Kadeer, Accused “Mastermind” Of Urumqi Protests, Speaks About Impact Of Social Media
Uighur women protested through the streets of Urumchi yesterday. According to the BBC, Uighur women and men were not armed and pleaded with the Chinese police force to release their sons, husbands, and fathers who were taken after Sunday’s riots. It’s reported that over 1,400 Uighurs were imprisoned in what has become the biggest protest in China since Tienanmen Square. Just hours after the Uighur protests, Han Chinese took to the streets. Witnesses say many carried knives, sticks, meat cleavers and wanted revenge.
What seems to have fallen through the cracks in main stream media is why these people are…
Internet
A Person Is Known By the Blog He Keeps
Literature is the soul of the wit. The best source of literaturecan be now found in blogs. The growing trend of blogmania isslowly sweeping the netizens. Every person aspires to have ablog as a platform to publish his thoughts and be heard and read.General surveys undertaken on blogs and bloggers shows a risingtrend in blogging. A parallel platform for literary endeavor,the blogs are overthrowing the traditional journalistic norms.Publishing of news and views no longer remains the privilege ofan elite minority. Anybody and everybody is free to get in touchand explore the writer within himself. The anamorphic nature ofthe human soul…
Facebook
Will Facebook Face Tougher Privacy Restrictions In Europe?
Yesterday the Financial Times reported that European privacy regulators may place tighter restrictions on the type of personal data that’s shared with third-party developers. The argument is that users don’t understand what information is being sent when they install an application. One US privacy advocate in the article is quoted, “Users don’t know their information is being collected and used.” While I’m not quite sure about what users are aware of, it’s also clear that the privacy advocates don’t have a clear understanding of how things currently function.
Privacy is extremely important to Facebook, who has developed some of the…
