- Birthday special: Ranbir Kapoor childhood picsReason why Lata Mangeshkar did not marryGionee S6s smartphone: A delight for selfie loversQuick tips for an organised homeBirthday special: Famous sayings by Yash ChopraTurn to tea tree oil for glowing skinBig B is hopeful, things will change post 'Pink'Priyanka Chopra found it 'weird' to audition for 'Quantico'Famous bold lip-locks of B-town divas we can never forgetBeing a celebrity isn't a piece of cake: Raveena Tandon
With a final berth at stake, the traditional rivalry between India and Pakistan will take
Taxing super-rich could be counter-productive: Aditya Puri Last Updated : 19 Feb 2013 01:35:24 PM IST Taxing super-rich could be counter-productive: Aditya Puri
HDFC Bank Managing Director Aditya Puri on Tuesday said the idea of taxing the super-rich could prove counter-productive and lead to evasions.
"If you go back in the last 50 years, in any country,it has proved counter-productive. If you are charging the super-rich more, they know how to do their tax planning and you only lead to an evasion," he told reporters on the sidelines of a co-branded credit card, targeting the youth, launched by HDFC Bank and Times Card.
Finance Minister P Chidambaram had last month said that "when the economy requires, government requires more resources, the very rich willingly should pay a little more". The comments had stirred up a debate making investors looking for a stable tax regime uneasy.
Clarifying that he is neither against the move and nor supporting it, Puri said though it was "a good political move it does not serve any purpose".
Asked for his expectations from the Union Budget to be presented on February 28, Puri said one should be happy if Chidambaram delivers on whatever he has been promising lately.
"I would be very happy if Mr Chidambaram is able to produce what he says is going to produce," Puri said, adding that he would watch out for areas like fiscal deficit,arresting subsidy burden and steps to revive investors' sentiment in the budget.
In a bid to woo global investors, Chidambaram had done a series of road shows in financial centres like Hong Kong,Singapore and Frankfurt affirming the government's commitment to the reform process and resolve to stick to the road-map of fiscal consolidation.
Puri informed that HDFC Bank is the largest player in the credit cards business, commanding a 35 per cent market share, and its portfolio stands at Rs 10,000 crore, the largest in the industry.
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
The MNS on Wednesday demanded the replacement of Pakistani actors Mahira Khan and Fawad Kh
- Big B, others wish Lata Mangeshkar on birthday
- Birthday special: Ranbir Kapoor childhood pics
- Reason why Lata Mangeshkar did not marry
- Bollywood split on MNS ban on Pakistani artistes
- Pakistani actors must condemn attack on Indians: Anupam Kher
- 'Modern Family' to feature transgender child actor
- Herschell Gordon Lewis dies at 87
- When Tanya Sharma turned English teacher for poor
Using state-of-the-art equipment, Australian researchers have managed to solve an 800-yea
Samsung India on Tuesday launched its 4G and VOLTE-enabled smartphone Galaxy On8 with a ho