NITI Aayog member Arvind Virmani has made a case for simplification of the whole system of business taxation as has been done in case of personal tax, and said that faceless assessment may not work in all the cases. Virmani further said that he is hearing from large corporations that faceless assessment sometimes can mean a kind of ignorance, because business by itself requires judgments of every expenditure. He added ‘Business taxation is inherently problematic. And sometimes you need to explain it’.
He noted that business taxation for business doesn't mean only corporate tax, it also means the business elements of personal taxation. He said ‘So, you can have a faceless assessment, it may work for 80 per cent cases but it may create more problems for 10 per cent. My solution is, you got to simplify the whole tax system for business taxation’. In recent years, the government has simplified the income tax regime in India.
Virmani also reiterated that signing the Free trade Agreements (FTAs) with the European Union, USA and United Kingdom is very important for India. Regarding high youth unemployment, he asserted that the workers participation, which is the measure of jobs, has gone up in 2021-22 (agriculture year) from 2017-18 (agriculture year). He said ‘Look at the Periodic Labour Force Survey (PLFS) data. The wages of the casual workers have gone up by something like 5 per cent a year between 2021-22 (agriculture year) and 2017-18 (agriculture year) period’.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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