Financial Daily from THE HINDU group of publications
Thursday, Jan 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 13, 2005 |
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Stock Markets Markets - Foreign Institutional Investors Money & Banking - RBI & Other Central Banks Industry & Economy - Taxation What they say Our Bureau
Mumbai , Jan.12 THE RBI Governor, Dr Y.V. Reddy, suggested monitoring quality and quantity of FII inflows and selective ceilings for the same, probably through the taxation route. ``The announcement by the RBI Governor would play a part in determining future FII inflows into India.'' Mr Amitabh Chakraborty, Vice-President & Head of Research, Kotak Securities. ``We are a bit perplexed by the Governor's intention to tax FIIs. We already pay capital gains tax and transaction tax. This is not going to help India increase its attraction among foreign investors.'' A senior official with a foreign broking firm. ``This was not expected from RBI. It is also a bit unclear as taxing an entity does not come under RBI's purview. If at all, the Finance Ministry would do it.'' Head of a domestic institutional broking firm.
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