Business community demands Income Tax exemption

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Gangtok, Aug 27 (UNI) The old business community of Sikkim today submitted a memorandum to the Central Income Tax office here demanding IT exemption on a par with Sikkim subject holders.

The old business community who had settled in Sikkim for generations before April 26, 1975 (the day when Sikkim merged with India) should be given Income Tax exemption at par with Sikkimese subject holders, SK Sarda, a representative of the community said while submitting the memorandum.

The community was left in the IT exemption list by the Centre.

Earlier this year, the Centre had exempted Sikkim subject holders from paying direct taxes by passing an amendment in the Finance Bill of 2008.

It has triggered strong resentment among the local business community who do not have the Sikkim subjects though they are living in the state for generations.

The community had also placed their demands for IT exemption with the governor and the chief minister.

Mr Sarda also asserted that the community will continue its movement till they get exemption.

UNI BG RH RN RL VC2045

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