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Misconception regarding the new general anti-avoidance rules (GAAR) spread panic in the market last week. Rumours are afloat that the tax authorities will use these rules to bring all participatory note (PN) holders and FIIs investing through tax havens in to the tax net.

Given the length to which the FM went to placate stock market players in the Union Budget speech, it is highly unlikely that he will impose a blanket tax on all PNs that make up 16 per cent of the total FII assets currently. Surely he knows that our market is not deep enough to withstand the sell-off that such an event can trigger?

Again the fact that there are many who use PNs due to reasons other than tax planning and that these instruments do not have any interest in the assets of the company are also arguments against taxing them.

But it is also true that a section of funds that enters our stock market is just black money camouflaged as FII money or PNs.

The Government should have the right to take closer look at the source of such money. The tax authorities might investigate a couple of cases and that could prove to be a deterrent to other wrongdoers. It would be wrong to panic at the thought that the tax men will form an army and run down all such cases.

Over time, genuine FII funds will make up for reduction in these funds. Value of PNs is down 60 per cent from the peak of Rs 4,50,000 crore in October 2007 (to end of February 2012). Total FII assets are up 20 per cent in the same period.

Derivative expiry also contributed to the volatility. But there was no bear squeeze and the stocks just slipped slightly lower in to the expiry.

We have a three-day week coming up and most market players might prefer to take off to the hills and beaches after the torrid time in the market last month. Action is, therefore, likely to be tepid next week.

Friday's recovery has helped salvage the daily oscillators and they are reversing higher. Both the Sensex and the Nifty reversed upward from the 200-day moving average last week. Weekly oscillators are dipping but they continue in the positive zone.

The implication is that the medium-term trend continues to be up for both the indices.

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Index Outlook - Resilient show by stocks

By Eric Bleeker | More Articles March 31, 2012 |

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This video is part of our "Motley Fool Conversations" series, in which senior technology analyst Eric Bleeker discusses topics around the investing world.

A quarter of the way into 2012, we're already seeing some major winners in the software and services market. Tudou is up 195% on the year thanks to its merger with Youku, while another Chinese company, NetQin, is the second best performer this year. However, what fascinates Eric is that enterprise-themed social-media plays are also soaring. Jive Software is up 69% so far this year, while LinkedIn has seen its own 64% pop. While exuberance around the pending Facebook IPO is surely a cause for these company's success, both of these companies have stronger business models than their social-media peers that rely on advertising. If these companies fall back from their huge gains on the back of any social-media selloff, they're two companies that would be worth investors' attention.

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The Top Internet Stocks of 2012

CLEVELAND, Ohio -- Akron and Cleveland aren't known for their warm and fuzzy relationship.

Yet two real estate boards, representing 4,500 professionals in Northeast Ohio, are considering a merger that might blur lines between the cities and build a stronger, unified voice to highlight housing issues in the region.

Across the country, nonprofit groups that represent real estate brokers and agents are talking about consolidation. Faced with changing technology and a challenging housing market, these local boards are fighting to stay relevant, effective and affordable for their members. Now the Cleveland Area Board of Realtors and the Akron Area Board of Realtors could become one large organization, in an effort to combat the loss of dues-paying members.

Leaders of both boards say the discussions are still in their infancy. But they're hoping to know this year whether they can pull off a smooth marriage between two major metropolitan real estate boards. As local governments and other nonprofits groups talk up regionalism, proponents point to an Akron-Cleveland real estate board as a model that can work -- and one that might encourage other, smaller boards to join.

"There are a lot of agencies in Northeast Ohio, and there are a lot of organizations that are doing great things," said Howard "Hoby" Hanna, president of Howard Hanna Ohio and a member of a task force discussing the potential Cleveland-Akron deal. "But sometimes, they're doing the same thing. ... If there was a little bit more consolidation, we might get more done."

Chartered by the 1 million-member National Association of Realtors, local real estate boards represent the interests of members, including residential and commercial real estate brokers, agents and appraisers.

Put simply, these boards aim to make the profession professional, through a code of ethics, common practices, education and shared market information accessible through private real estate listing services.

Nearly 1,400 Realtor boards and associations are scattered across the United States. Seventy-two percent of them have 300 or fewer members. Eight, in cities including Miami and Houston, are super-sized, with more than 10,000 members. AABOR and CABOR fall in the middle, with 1,367 and 3,147 members, respectively, according to the Ohio Association of Realtors.

A more regional board would provide the same services and support, with greater efficiency, said Joanne Zettl, chairwoman-elect of the Cleveland board and a Realtor with Street Sotheby's International Realty.

For consumers, she said, a merger could mean that real estate agents in the region will be better informed, with access to national speakers and higher-quality education on housing issues.

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Cleveland, Akron real estate boards may merge their houses, reflecting a consolidation trend

Published: Saturday, March 31, 2012 at 7:54 a.m. Last Modified: Saturday, March 31, 2012 at 7:54 a.m.

LAKELAND | The Polk County Sheriff's Office is warning about a new scam involving phony real estate listings on Craigslist.

Scammers, usually located overseas in remote areas, copy ads found elswhere on the Internet for properties that are for sale or rent by real estate agents. They repost them on Craigslist for well below market value under fake names.

Buyers or renters who fall for the hoax send a deposit to the scammer's bank account and wait for contracts or deeds to be delivered. The scammers keep the money and the victim is out of luck.

Local man Owen Castleman says his family was scammed.

It all started with his daughter needing a new place to live. He told her about a house he had seen in Lakeland, which she found online.

Same home happened to show up on Craigslist, Castleman said.

The Castlemans used a supplied email address to write to the supposed owners, who claimed to be missionaries in Africa. They wrote back and said they needed the Castlemans to wire money for the down payment of $500.

But after the money was sent, the scammers asked for more money and wouldn't turn over the key.

That's when the Castlemans grew suspicious. They located the real owners of the home and learned they'd been had.

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Sheriff's Office Warns of Real Estate Scam

30-03-2012 07:35 TFI-News interviewed Florida DOT Secretary of Transportation Ananth Prasad, PE at the recent TFI-News US P3 Forum in New York where he discusses the P3 projects pipeline and explains when the next road deals will be coming to market.

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P3-TV Interview: Florida DOT Transport Secretary Prasad on the Next P3 Road Deals - Video