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
Direct Tax »
 Direct tax collection exceeds target in FY18
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket
 How to file Income Tax Returns online in five simple steps
 Income tax returns (ITR) deadline over; how belated returns filing will impact you

Karnataka for exempting cooperatives from direct tax code
March, 06th 2012

The Karnataka government Monday sought to exempt the cooperative sector from the proposed Direct Tax Code (DTC) purview as it offers credit to poor farmers.

"As cooperatives operate in semi-urban and rural areas across the state offering credit to poor farmers not serviced by state-run and commercial banks, they should be exempted from DTC purview," Chief Minister D.V. Sadananda Gowda said in a letter to President Pratibha Patil, with a copy to the prime minister and the finance minister.

Noting that the cooperative sector provided bargaining power to the rural poor against profit-centric organisations, Gowda said credit from its societies have been saving farmers from clutches of money lenders in the absence of their financial inclusion.

"Hence, the Direct Tax Bill 2010 should be reviewed to exempt the cooperative sector from DTC in the interest of farmers who are the lifeline of the rural economy," Gowda asserted.

As deposits and withdrawals are maintained by members of cooperative societies, which are subject to cash limits, they should not be burdened with additional tax liability, the letter pointed out.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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