Sponsored
    Follow Us:
Sponsored

Terming cooperatives as one of the strongest pillars of Indian agriculture, Farm Minister Sharad Pawar today said he has asked Finance Minister Pranab Mukherjee to consider income tax exemption to Indian cooperatives. “I have written a letter to the Finance Minister to look into the issue of I-T exemption to cooperative societies,” Pawar said at a national level meeting with the state cooperative ministers here.

With about six lakh cooperative societies covering about 250 million members, Pawar said the Indian cooperative sector takes pride in calling itself one of the largest cooperative movement in the world.

National Cooperative Union of India (NCUI), the apex organisation of the cooperatives in the country, has been demanding to keep cooperative societies out of the purview of the direct tax code that is to be operationalised in 2012.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031