Individual stock brokers, squeezed
between declining volumes and the high turnover tax payable
to the Securities and Exchange Board of India, have approached
the Investor Grievances Forum to plead their case to the government
to reexamine the ban on deferral products imposed since July
2.
The Securities and Exchange
Board of India has debarred the Chennai-based Khemkas and their
group companies from accessing the capital market for five years
for violation of regulations and listing agreements.
The Associated Chambers of
Commerce and Industry of India (Assocham) has asked the government
to clear the bio-diversity Bill in the current session of the
parliament.
Central Board of Direct Taxes
chairman OP Srivastava has said that the norms for tax on perks,
to be finalised in a month, would be liberal for the salaried
class. However, the industry felt that the measure would increase
cost and make Indian industry incompetitive.
