Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 How to file ITR as an OCI on Indian income?
 4 income tax benefits you could expect from Budget 2023
 10 key steps to plan your taxes in 2023 Income Tax
 Clarification for the purposes of clause (c) of Section 269ST of the Income-tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies
 How to save income tax under various sections in FY 22-23?
 5 tax-saving techniques for FY23 Here is what experts suggest
  Tax moves to make before end of 2022 Your Money
 Income Tax Dept Exempts Non-Resident Taxpayers From Filing Form10F For Now
 Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
 Master Direction Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022

Sebi exploring ways around PAN deadline
June, 21st 2007

Capital markets regulator Securities & Exchange Board of India (Sebi) is considering options to allow people to invest in mutual funds without a PAN (permanent account number) card, made mandatory from July 2. An indication to this effect was given by Sebi chairman M Damodaran while addressing the Confederation of Indian Industrys Mutual Fund Summit 2007 in Mumbai.

The ministry of finance had earlier asked the industry to move from the mutual fund identification number (MIN) to PAN for all transactions. Damodaran said, "Sebi is considering options to allow investors investing in mutual funds without a PAN card, which has a deadline of July 2.
 
He also asked the Association of Mutual Funds in India (Amfi) to play the role of a self-regulatory organisation, although it would not be outside the purview of the regulator.

The Sebi chairman was also critical of mutual funds for their rush to acquire more assets under management. The MF industry seems to be prematurely patting itself on the back. The question is, who made what sort of growth? The numbers provoke more questions than provide answers, he said.

Stressing the need for more innovative products, Damodaran said liquid funds were not the only way to grow. Something needs to be done to get more types of money into MFs, he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting