Financial Daily from THE HINDU group of publications
Wednesday, Mar 08, 2006
Financial Daily from THE HINDU group of publications Wednesday, Mar 08, 2006 |
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Opinion
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Letters PAN and TDS
The new directive of the Securities and Exchange Board of India (SEBI) for mandatory providing of permanent account number (PAN) for opening depository participant account and six months time for existing account holders to comply could not have come a day earlier. Besides keeping track of capital market transactions, such a move will prevent a scam such as the recent IPO one due non-compliance of `know your client' norms by the depositary participants. Besides making PAN mandatory, it may be considered to introduce tax deduction at source at some pre-determined percentage in respect of capital market transactions. This may be adjusted while filing return/making advance payment of tax. R. S. Raghavan Bangalore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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