TIOL-DDT 50 · the untouched capture
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#0000FF" size="3">TIOL-DDT
50</font><br>
9 2 2005<br>
Wednesday</b></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>Income Tax Rules amended to bring into effect the deduction for certain areas</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
As per Section 80IC of the Income Tax Act introduced with effect from 1.4.2004,
a hundred percent deduction from profits is allowed for a period of ten years
for an undertaking or enterprise</font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. which produces or carries on substantial expansion
between December 2002 and April 2012, in Sikkim, or<br>
2. from January 2003 to April 2012, in certain
areas of Himachal Pradesh or Uttarannchal, or<br>
3. from December 1997 to April 2007 in certain
areas in the North eastern States.</font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Rule 18BBB of the Income Tax Rules, for claiming the benefits, an audit
report in Form 10CCB has to be furnished. Now this rule is amended to include
Section 80 IC and prescribe a new Form 10CCB.<br>
<br>
<a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=35&filename=notification/cbdt/2005/it05not043.htm">NOTIFICATION
NO 43/2004, Dated : February 4, 2005</a><br>
<br>
<font color="#006633"><b>The Nation is on the move - Things are fine as
these details would show</b></font></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Monthly
Economic Report </b></font></p>
<p align="center"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">January,
2005 </font></b></p>
<p align="center"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Highlights</font></b></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
The winter season rainfall from January 1, 2005 to January 19, 2005 was normal
/ excess in 19 per cent meteorological sub-divisions.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Foodgrain stocks were 21.8 million tonnes as on December 1, 2004;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Overall
industrial growth was 8.4 % in April-November, 2004 as compared with 6.4% in
April-November, 2003;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Core infrastructure sectors achieved an average growth rate of 5.4% in April-December,
2004 as compared with 5.8% in Apri-December, 2003;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Broad Money (M3) growth (year-on-year) was 13.4% (net of conversion, 13.2%)
as on January 7, 2005 as compared with 14.1% last year;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Exports grew by 23.4% in dollar terms in April-December, 2004 as compared with
12.7% in the corresponding period last year. Imports grew by 33.6% during April-December,
2004 as compared with 25 % last year;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Forex reserves (excluding Gold and SDRs) stood at $ 125.16 billion as on December
31, 2004;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Rupee appreciated against US Dollar and Japanese yen and depreciated against
Pound Sterling and Euro in December, 2004;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
The annual inflation rate in terms of WPI (Base 1993-94 = 1000) was 5.42% for
the week ended January 15, 2005 as compared with 6.55% a year ago;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Tax revenue (net to Centre) in April-November 2004 (provisional) was higher
by 18.5% over April-November 2003;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Fiscal deficit in Apil-November 2004 is 51.5% of BE compared with 61% of BE
in corresponding period last year;</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Revenue deficit is higher at 97.1% of BE compared with 68.3% in the corresponding
previous period.</font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Foreign
Exchange Reserves</b></font></p>
<p align="center"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(Excluding
Gold & SDRs)</font></b></p>
<div align="center">
<table width="450" border="0" cellspacing="0" cellpadding="5">
<tr>
<td> </td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amount ($
Million)</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Variation
($ Million)</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">At the end
of </font></td>
<td> </td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Over last
year</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">March 1996<br>
March 1997<br>
March 1998<br>
March 1999<br>
March 2000<br>
March 2001<br>
March 2002<br>
March 2003<br>
March 2004</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">17044<br>
22367<br>
25975<br>
29522<br>
35058<br>
39554<br>
51049<br>
71890<br>
107448</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">-3765<br>
5323<br>
3608<br>
3547<br>
5536<br>
4496<br>
11495<br>
20841<br>
35558</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2004-05</font></td>
<td> </td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Over last
month</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">April<br>
May<br>
June<br>
July<br>
August<br>
September</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">113011<br>
114102<br>
114151<br>
112967<br>
112717<br>
113788<br>
</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5563<br>
1091<br>
49<br>
-1184<br>
-250<br>
1071</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">October<br>
November<br>
December*<br>
January<br>
February<br>
March </font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">115651<br>
122319<br>
125164</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1863<br>
6668<br>
2845</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">*Provisional</font></td>
<td> </td>
<td> </td>
</tr>
</table>
</div>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
<font color="#FF0000"><b>Until tomorrow with more of DDT </b></font></font></p>
<p align="justify"><font color="#FF0000"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Have
a Nice Day<br>
<br>
Mail your comments to</font></b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>vijaywrite@taxindiaonline.com </b></font></p>
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