Discrimination faced by Mumbaikars...
If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.
Saturday, June 21, 2014
Sebi pitches for tax benefits on REITs, infrastructure bonds
New Delhi, Saturday, June 21, 2014: To give a boost to capital markets, regulator Sebi has asked the government to provide clarity on tax benefits for new products like REITs (Real Estate Investment Trusts), as also for Infrastructure Investment Trusts and for debt securities.
"Sebi will soon finalise norms for REITs, but is awaiting clarity on taxation issues," the Securities and Exchange Board of India (Sebi) Chairman U K Sinha said here today, while adding that the regulator wants such trusts to get tax pass- through status.
Besides, Sebi is also close to framing new rules for Infrastructure Investment Trusts but there needs to be clarity on withholding taxation issues for such products, Sinha said.
These new products would allow investors to invest in specific products linked to real estate projects and infrastructure projects, while providing necessary safeguards. Besides, these products would also help the corporates raise significant amounts of capital for their projects.
Speaking at a conference here, Sinha said that there are "certain anomalies in withholding tax on debt securities" and he hopes that the government would soon provide a clarity and also provide the tax pass-through status to REITs.
He said that REITs have been a significant vehicle for global investors and Indian markets can also soon tap this opportunity, as Sebi was ready with guidelines that would be announced immediately after tax clarity from the government.
About the need to expand corporate bond markets, Sinha said that necessary infrastructure for this was already in place and the related regulations have been simplified.
"I believe that an emerging market like India must focus on development of the market. The Sebi Act mandate is to work for growth of the market," Sinha said.
The Sebi Chairman further said that there was a need to work on increasing the base of corporate bonds.
Sinha also stressed on the need to encourage SMEs (Small and Medium Enterprises) to get listed and get benefited from the capital markets. Currently, the listed SME market capitalisation in India stands at over Rs 7,500 crore, while 65 companies have got listed on SME Platform of exchanges.
"We have identified certain SME clusters to encourage listing. The government and Sebi are trying to help SMEs raise capital from the markets," he said.
About the new regulations, Sinha said that Sebi would soon put in place norms for crowdfunding, which would allow start- ups to tap new platforms to raise funds.
Besides, there are already norms in place for Alternative Investment Funds (AIFs), such as venture capital and angel investors.