REMOVE PAN FOR DEMAT & APPLYING FOR MUTUAL FUNDS & IPO.
PRESENTLY PAN IS POSING AS A DETERRENT FOR COMMON MAN TO APPLY FOR MUTUAL FUNDS & IPOS.&TO OPEN DEMAT A/C S. IT PREVENTS HOUSEHOLD SAVINGS FLOW TO CAPITAL FORMATION WHICH IS VERY LOW IN INDIA WHEN COMPARED TO WORLD STANDARDS.TAXATION ISSUES SHOULD NOT PREVENT THE MUCH NEEDED CAPITAL FORMATION.
FIIS CAN EASILY PARTICIPATE IN CAPITAL MARKET ON BEHALF OF ANYBODY IN THE WORLD EVEN WITHOUT DISCLOSING PROPER IDENTITY.BUT A RESIDENT INDIAN CANNOT DO SO IS A PARADOX.
ONE YEAR LOCK IN SHOULD BE MADE MANDATORY FOR FIIS FOR HEALTHY CAPITAL MARKET & TO AVOID MARKET MANIPULATIONS.
GOVT. SHOULD ACT FAST.
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