New Delhi, Feb 23 (PTI) A delegation representing urban cooperative banks today met Finance Minister Pranab Mukherjee and demanded that the government should not impose income tax on such institutions, enabling them to improve their financial status.
The delegation of Forum of Urban Cooperative Banks led by Basudev Acharia (CPI-M) and its convenor C V Kumar met Mukherjee in Parliament House and demanded to scrap the Income Tax imposed on such banks.
The delegation also requested that effective tax rates on cooperative banks be reduced.
"The Finance Minister sought some clarifications from us and assured that our concerns would either be addressed in the current budget or when the Direct Tax Code becomes effective," Kumar told PTI.
The delegation said the Finance Minister gave them a patient hearing and appeared positive to their demands.
Courtesy : yahoo.finance
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