 |
|
A broker at a recent event in Mumbai raised concerns about the fairness of the tax system for investors and brokers in India.
He pointed out investors take on financial risks while the government primarily benefits from returns, referring to the government as a 'sleeping partner.'
The finance minister acknowledged tax concerns and emphasized the need for stringent regulations to address unchecked retail trading of futures and options, citing potential risks to markets and investors.
The broker also highlighted challenges of buying a home in Mumbai due to various taxes, seeking assistance for individuals and brokers.
Sitharaman encouraged stock exchanges to collaborate with the Securities and Exchange Board of India to create robust regulatory standards, expressing concerns about uncontrolled retail trading in futures and options.
Source: 'Govt My Sleeping Partner', Says Mumbai Broker to Nirmala Sitharaman; FM Has A Witty Response