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PM meets delegation of coop banks on taxation

Written by: Staff

New Delhi, Jun 29: A delegation of leading cooperative banks today called on Prime Minister Manmohan Singh in connection with the issue of imposition of Income Tax on cooperative banks and explained the stand of this sector.

After hearing the members of the delegation and their reasoning for continuance of exemptions under section 80(P), the Prime Minister promised them that he would spead to the Finance Minister and ask him to discuss the issue in detail with representatives of the sector.

The delegation comprised of Mr Eknath Thakur, MP and Director, Saraswat Cooperative Bank, Mr Anand Rao Adsul, MP, Mr Mukund Ohaisas, Chairman, Maharashtra Urban Banks Federation, Mr D Krishna, Chief Executive of NAFCUB and Mr Arvind Deshpande, CEO, Maharashtra Urban Cooperative Banks' Federation, a National Cooperative Union of India (NCUI) release here said.


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