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Financial institutions, MFs pitch for easier taxation norms

Arun-JaitleyDomestic financial institutions and mutual funds on Wednesday pitched for rationalisation of tax provisions to improve ease of doing business in the country.

These suggestions were made by the representatives of the domestic financial institutions, mutual funds and other market players during a meeting with the officials of the Finance Ministry.

“There were some suggestions and representation with regard to rationalisation of certain tax provisions. We have made a note of… CBDT and CBEC officials were present. They will examine it… Let us see what can be done,” Economic Affairs Secretary Shaktikanta Das told reporters after the meeting.

Besides taxation issues, the discussions also focused on increasing retail participation, widening of investor base and development of market infrastructure.

“The idea was to get their suggestions and inputs about what needs to be done to improve ease of doing business… To carry about some policy reforms in the area of financial markets,” Das said.

In addition, he said, “we discussed deepening of corporate bond market and also bigger and wider retail participation in the bond market.”

Yesterday, the Finance Ministry organised a similar meeting with the representatives of foreign portfolio investors.

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