Clear The Air

The Economic Times - - Companies: Pursuit Of Profit -

The un­cer­tainty must end. Fund man­agers need to churn port­fo­lios and a cas­cad­ing tax bur­den on FPIs will re­duce the de­mand for In­dian shares. Lack of clar­ity will fuel dis­putes. The law al­lows gov­ern­ment to lift the cor­po­rate veil only in deals that trade in In­dian as­sets to col­lect the tax due on value cre­ated in the econ­omy. Ex­tend­ing the same to prin­ci­pal off­shore funds in­vest­ing in In­dia is ab­surd.

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