sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Budget 2019: This Budget could have some surprises in store
 Income Tax return processing time to reduce from 63 days to just 1 day
 Govt eases norms for start-ups seeking exemptions from 'angel tax'
 Maximise tax savings using health insurance for yourself and family
 FinMin considers steps to prevent composition dealers from charging GST from buyers
 Do-it-yourself online filers may need to ask for some help this tax season
 Do we need composition scheme in GST for real estate?
 Here's how you can claim tax benefit on a top-up home loan
 Year-end tax tips to get you ahead of the season
 Manual filing allowed for tax cut at lower/nil rate
 Income tax return filing: I-T dept allows manual filing by resident, NRI taxpayers

Income tax on co-ops will sound death-knell of sector
February, 18th 2011

Kerala Co-operation Minister G Sudhakaran today said the Centre's move to include primary co-operatives under the purview of the Income Tax Act would sound the death knell for co-operative sector in the state.

Replying to a calling attention motion by M M Monayee (CPI-M), he alleged that the Centre was trying to 'rob' the deposits in the co-operative societies in Kerala which now stood at Rs 68,000 crore.

"Those who should protect co-operatives are punishing them," he said and wanted the Centre to immediately withdraw the proposal.

As per the proposed amendments in the existing act, profit-making co-operatives would have to pay 30% income tax from April 2012.

The amendments also sought to change the provisions for enrolling members in co-operatives, which, if implemented would reduce to one-third the memberships in societies in the state, he said.

The minister said the amendments would largely affect Kerala where the sector was very strong and all political parties were opposed to the Centre's move.

If the Centre did not withdraw from the move, the state government would consider legislation to overcome the impending crisis in the sector, he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions