Fwd: Securities transaction tax and surchage for small investors - to be waived.

---------- Forwarded message ----------
From: VALLIAPPAN SINGARAM <valli.singaram@gmail.com>
Date: Thu, Jun 18, 2009 at 9:01 AM
Subject: Securities transaction tax and surchage for small investors - to be waived.
To: BudgetWishlist2009@gmail.com

Dear F.M Mr.Pranab,

 

Since you are a Bengal man I start with pranam "Balo Achin" as I had the chance of

living at Bengal/Calcutta during my official tenure in Banking.

 

This Securities Transaction tax and surcharge hits very badly at small investors and individual investors from their hard earned savings to invest in the markets condusive

for the growth of the Indian Economy by patriot ourselves.  Like the mutual funds

waiver for PAN upto levels of SIP investments upto 50000 is in the offing, the stt

upto 50000 for individual small investors must be waived since this will go a long

way in protecting their interests and the money will get reinvested again into the

markets instead of going as tax into the government corpus.  Money earns money

and hence transactions of corporates or NRIs FIIs and the like have to be throughly

checked for getting back under this route.  Our savings rate is high among nations

and we are protected by the same while we should not be taken ride for by the FIIs

and others alike.