Content area
Full Text
Abstract
Banks playing an imperative role in smoothing tax planning by individuals and firms. Bagging bank-client relations using lending contracts and measuring client tax avoidance an effort has been made to analyze how banks are associated with tax avoidance by borrowers and other individuals. The haste with which tax and legal systems in various countries familiarize to one should possibly pursue or remedy these complex expansions. Commercial and investment banks, insurance companies, wealth managers and other financial service providers always helps users to cope up with tax issues. Financial institutions and banks in particular, are well-placed to be implored in aggressive tax planning. Their network of entities across manifold jurisdictions provides a conduit for this tax management. Their skill to adapt often immensely complex financial securities can respond to any believable tax planning demand.
Keywords: Financial Market, Capital Market, banks, tax planning, tax avoidance
Introduction
Bank may be defined as a financial institution which is engaged in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. A set of services intended for private customers and characterized by a higher quality than the services offered to retail customer's Basic function may include Credit collection, Issuer of banking notes, Depositor of money and lending loans.
Now a days banking is not in its traditional way, with the advancement of technology it's focusing on more comfort of customer providing services such as: Online banking, Investment Banking, Electronic banking, Internet banking, PC banking / Mobile banking, E - Banking
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NY SE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing...