Cooperative institutions in the State should unite and seek a waiver in the levy of income tax, said Karnataka Governor Vajubhai Vala here on Thursday.
“Cooperatives work for the welfare of people and meet the demands of the needy, lessening the load of the State and Union government. The money paid as income tax, if saved, could be used to help the needy,” he said in his.
inaugural address at the valedictory programme of the 61st All India Cooperative Week-2014.
Earlier, income tax wasn’t levied on them, but in recent years it has been levied, Vala said, adding that the cooperative sector has played a crucial role in offering financial credit to farmers. He also urged cooperative institutions to ensure leaders of political parties meet their demands and facilitate their growth.
Cooperative Minister H S Mahadeva Prasad, Excise and District in-charge Minister Satish Jarkiholi, MLA Laxman Savadi and Karnataka State Cooperative Federation Chairman G T Devegowda were present at the event. Achievers from the cooperative sector were honoured on the occasion.
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