Friday, September 27, 2013

I-T dept clarification on co-ops

The income tax department has said that limits for calling for information on deposits has been enhanced to Rs 5 lakh from Rs 2 lakh for cooperative banks and societies. Small depositors will not be inconvenienced, an official spokesman said here. This comes in the light of a call by the Kerala Primary Societies and Kerala Cooperative Employees Union for conducting protests and sit-in in front of income-tax offices on Friday against the taxman’s drive in the State......

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