PRE-BUDGET WISHLIST- SMC GLOBAL SECURITIES LIMITED
1. The STT which is presently 0.125% should be removed or reduced. It should be allowed to be treated as payment against the advance tax which was earlier the case.
2. Participation of FII’s and Institutional investors should be allowed in the currency exchange.
3. Govt should actively pursue disinvestment.
4. There are some feelers from some quarters that service tax might be increased from 10% to 12% but our suggestion is that since it was already reduced 12 % to 10%, there should be no change as people should see continuity in the govt stand.
5. FBT should be removed.
6. Corporate tax should be reduced from 33% to 30%.
7. Broking house should get industry status.
8. Dividend distribution tax should be reduced or removed.
9. Commodity exchanges should be given time to grow and the CTT announced in the last budget but not implemented should be completely scrapped.
10. Govt should take immediate steps to launch bond futures as it would help industry to get cheaper money and the investor would get the better return.
11. Income from commodities future should be treated as business income and not speculative.
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