Direct tax code bill opposed
Various co-operative societies and federations have opposed the move of the union government to bring co-operative societies under the income tax rule and imposing cess on the interest on the deposits of co-operative society members through Direct Tax Code Bill.
In a news conference here on Friday, president of Karnataka State Coir Cooperative Federation S R Narayana Rao said the move would be dangerous for the co-operative sector.
The Centre is making an effort to bring the corporate tax rule to the co-operatives.
Such a step would only weaken the financial strength of the co-operatives and apparently lead to its collapse.
“The Indian cooperative sector is the biggest among the cooperative sectors in the world. The rural population has played a key role in building the sector,” Narayana Rao remarked.
He urged the Centre to revoke its proposal and not to place it before the Parliament for approval.
The members of various cooperative societies would stage a demonstration opposing the move and submit a memorandum to Deputy Commissioner on March 1.
They have also planned to hold a Sahakari Delhi Chalo” programme on March 7, he said.
A preliminary meeting with regard to the scheduled dharna and “Delhi chalo” programme would be held at the office of the Bharatiya Janata party district unit on Feb 27 at 11 am, he added.
North Indian crafts mela
JSS Mysore Urban Haat is organising a handicrafts mela from February 26 to March 16 at its premises in Hebbal off KRS Road. More than 30 stalls will be spread with artisans from other states displaying their products for sale and expo, a press release said.
