The role of Non-Banking Financial Companies (NBFCs) has become increasingly significant in this ever-evolving landscape of finance. These entities, operating alongside traditional banks, play a crucial role in meeting the diverse financial needs of individuals and businesses. However, to bring them on par with their banking counterparts, it's time to explore the avenue of tax relaxations. In this article, we delve into the potential benefits and implications of tailored tax incentives for NBFCs and how such measures can pave the way for a more robust financial ecosystem. 1. The Current Scenario NBFCs have been instrumental in filling the gaps left by conventional banks, providing accessible credit and financial services to a wide range of customers. Despite their pivotal role, these entities often face challenges that hinder their seamless integration into the financial fabric. Tax disparities between banks and NBFCs have been a significant point of contention, and addressing thi
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