Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4% :: cpt :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

Taxpayers have no confidence in MFs
June, 25th 2007

The Indian mutual funds industry may have crossed the Rs 4-lakh-crore mark in assets under management, but still ranks at the bottom of the charts when it comes to gaining the confidence of tax payers.

A study in 2005 by the Asian Development Bank had revealed that, of all the taxpayers in India, only 17% were confident about investing money in mutual funds. Although this study was conducted two years ago, latest data show that these findings are relevant to even 2007.

Public sector banks still remain at the top of the chart with 96% of tax payers expressing confidence in the nationalised banks. This is followed by LIC of India with 83%, regional rural banks 55%, regional co-operative banks 55%, registered co-operative societies 32%, other insurance companies 29% and Indian private sector banks 21%.

UK Sinha, chairman and managing director, UTI Mutual Fund, lists two factors to reason why taxpayers confidence in mutual funds is negligible. One, a lack of investor education programmes and two, monies people receive after retirement are still to make their way into funds.

The industry should take measures like investing for investors education and awareness. Also, the fact that the pension money is not yet allowed to be invested in equities is a major concern, Sinha says. There is also a lack of a level-playing field vis--vis mutual funds and other segments of the financial services sector.

Echoing similar sentiments, Vikrant Gugnani, president, Reliance MF, hopes that the rules will not differ for the segments of the financial sector that includes insurance and banking. Pension reforms are long overdue and we have not grown as fast as we should, he notes.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions