Would like to update your knowledge on various personal tax matters, Subhas Lakhotia, tax expert, provides answers on many queries.

Excerpts from a Q & A with Tax Expert Subhash Lakhotia

28-Mar-2008
Your tax queries, answered!
My nephew is going to Singapore on a work contract of three months. Where does he pay the income tax?
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Souce: Moneycontrol.com

18-Jan-2008
I sold my house, now I have to pay tax?
While you cant avoid taxes altogether, there are steps you can take to decrease the amount you have to shell out.
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Souce: Moneycontrol.com

21-Nov-2007
How do I keep a record of my shares?
Our tax expert tips you off on how to manage your tax planning, better.
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Souce: Moneycontrol.com

05-Oct-2007
‘Should I invest in PPF or SIP?’
It depends on your age and the time-frame for investment.
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Souce: Moneycontrol.com

20-Sep-2007
Get tax benefits on your wife’s PPF!
Our tax guru spells out smart strategies to help you save tax.
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Souce: Moneycontrol.com

In their first article in the special briefing on the Wall Street crisis, The Economist explains the US economy’s deepening problems and what US government is doing and should do to clean up the system.

The article explains that the Fed has now become the lender-of-last-resort not just to commercial banks but to big investment banks as well. Even if that solves Wall Street’s immediate worries over liquidity, it still leaves the danger that recession will lead to such big losses that banks are forced into insolvency.

The US economy could be pushed further into recession by sudden cuts in leverage by banks and the huge damage it could do to the world economy.

Wall Street’s crisis
Mar 19th 2008
From The Economist print edition
What went wrong in the financial system—and the long, hard task of fixing it
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Source: Economist.com

US recession will be long and painful
HONG KONG: Economist Jim Walker has a well-earned reputation for telling it like it is, no matter how bitter the message.
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Source: DNA Money

India’s slowdown
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Source: Businessweek.com

Indian companies shrug off subprime gloom
By Joe Leahy
Published: March 9 2008 21:39
Indian companies are pushing ahead with mergers and acquisitions in spite of the subprime crisis
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Source: FT.com

Over-literate Investors
Dhirendra Kumar | Mar 17, 2008
How many of us keep worrying about the US credit crisis & other happenings from around the world? Almost all of us do, but is this worrying really justified for individual investors?
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Source: Value Research

80-90% chance of US seeing 1920s situation: First Global
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Source: Moneycontrol.com

‘India has more subprime skeletons’
Noted economist surprised that Indian banks participated in the mess
HONG KONG: Financial institutions in India probably have sub-prime problems that are “waiting to be exposed,” says Jim Walker, noted economist and CEO of Asianomics.
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Source: DNA Money

ICICI Bank feels subprime pinch
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Source: FT.com

The US blame game, and beyond
The US housing mess and the Federal Reserve’s efforts to unravel it have lessons for India’s own attempt to solve the agricultural debt problem. For one thing, write-offs and debt waivers lead to complacency on the part of the borrowers and cultivate the culture of “default”.
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Source: The Hindu Business Line

Marc Faber, in an exclusive interview with CNBC-TV18, said that the emerging markets may get oversold in the next six months and then see a rally. According to him, Sensex may test 14,000 before slipping to 12000.

In response to questions from DNA Money in Hong Kong on Wednesday, Stephen Roach, chief economist of Morgan Stanley elaborated on what he likes about the Indian economy what the downside risks are. He said that he is a big bull on India and he thinks Indian economy is moving into a sweet spot.

Sensex may test 14K, then slip to 12K: Marc Faber
Excerpts of CNBC-TV18’s exclusive interview with Marc Faber:
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Click here to watch the video.
Source: Moneycontrol.com

Indian economy is ‘moving into a sweet spot’
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Source: DNA Money

Buffett says U.S. in recession
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Source: Yahoo News

Insight: Petrodollar tsunami to hit euro and dollar
By Stephen Jen
Chief Currency Economist, Morgan Stanley
An interesting article in FT.com. According to Stephen Jen, at the current pace of production and exports, and at $100 a barrel, collectively, oil exporters are projected to earn a total of $2,100bn in oil export receipts annually. The bulk of the petrodollar windfalls for most oil-exporting countries will still not be spent, but will be saved and deployed in the global financial markets. This will favour equity markets in emerging markets.
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Source: FT.com