Minimum Alternate Tax Irrational: Fise

In the first post-Budget representation made to the finance minister by an organisation of stock exchanges, the FISE has demanded that shares and debentures of listed companies engaged in manufacturing, power generation and transmission, shipping, hotel, tourism and banking should be included in the list of specified assets to be announced shortly.

According to the federation, the finance minister had in the Budget stated that all capital gains and sales proceeds from the sale of capital assets should be exempted from tax if invested in specified assets.

While calling for exemption of dividend income from tax, the federation has demanded that if full exemption is not feasible then for the time being exemption up to Rs 50,000 per investor in each financial year should be granted.