MARGAO
Maharashtra's Minister of State for Co-operation, Shekhar Charegaonkar expressed the need for abolishing Income Tax stipulation for the Citizens Co-operative Societies.
Addressing a gathering at Ravindra Bhavan, Margao, on Monday, on the occasion of the foundation day of Sahakar Bharati in Goa, Charegaonkar said a delegation has already met with Union Finance Minister Arun Jaitley in pursuance of this demand. He also claimed to have extracted an assurance from the Union Finance minister in the affirmative vis-a-vis this demand. Quoting Jaitley, Charegaonkar said a notification to this effect is on the anvil.
He also wanted powers of loan recovery to be entrusted to the employees of such co-operative societies.
Charegaonkar cited the example of his State (Maharashtra), where he claimed that such powers of loan recovery had been entrusted to the employees of the co-operative societies. Urging the Goa government to emulate Maharashtra in this aspect, Charegaonkar said a fixed time frame for recovery of loans also needs to be set. He also highlighted the need of a seminar to acclimatise the Goan employees on the nuances of such aspects.
Chargaonkar claimed a delegation which met with Jaitley in this matter explained to him the need for abolition of Income Tax made applicable to such co-operative societies.
He also called on the concerned stalwarts of this sector to constitute a Samiti to study the desired changes in the State Co-operatives Act, which could also incorporate the requisite inputs from the Maharashtra State Co-operatives Act.
Twelve employees of the State's co-operative sector were also felicitated on this occasion.
Those present for the function included the president of Goa Sahakar Bharati, Prakash Velip, Satish Bhat, Milind Kerkar, Suresh Fadte and Madhukar Desai.
