They pointed out that MSMEs small and marginal assesses would benefit out of these withdrawals. The provisions of Section 194Q and Section 206AB is a retrograde step by the government for Ease of doing business in the country and deserve a revisit.
Coimbatore: A delegation consisting of ICCIC President C Balasubramanian, M V Ramesh Babu, President, CODISSIA, D Vignesh, Vice President, SIEMA and S Surulivel, Vice President, TANSTIA met Nirmala Sitharaman Union Finance Minister, yesterday at Chennai.
Availing this opportunity Coimbatore chapter of Chamber has submitted a Memorandum pleading for withdrawal of Section 194Q of the Income Tax Act 1961, withdrawal of section 206AB of Income Tax Act. They have briefly justified the facts and figures for these withdrawals.
They have also pointed out that MSMEs small and marginal assesses would benefit out of these withdrawals. The provisions of Section 194Q and Section 206AB is a retrograde step by the government for Ease of doing business in the country and deserve a revisit to the provisions of the Income Tax Act and withdraw the applicability of these sections to render justice to the honest tax payers of this country.
They also appealed for extension of time for filing of GSTR Annual Return for the financial years 1917, 1918, 1919 & 2020, Waiver of interest on payments as per GSTR 3B for all assesses up to annual turnover of Rs.10 crores, reduction of GST rates on medical oxygen and introduction of special scheme to make payment of all refund under GST law and requested for all pending disputes under Sab-ka-viswas scheme should be reviewed and grievances be redressed.
Availing this opportunity Coimbatore chapter of Chamber has submitted a Memorandum pleading for withdrawal of Section 194Q of the Income Tax Act 1961, withdrawal of section 206AB of Income Tax Act. They have briefly justified the facts and figures for these withdrawals.
They have also pointed out that MSMEs small and marginal assesses would benefit out of these withdrawals. The provisions of Section 194Q and Section 206AB is a retrograde step by the government for Ease of doing business in the country and deserve a revisit to the provisions of the Income Tax Act and withdraw the applicability of these sections to render justice to the honest tax payers of this country.
They also appealed for extension of time for filing of GSTR Annual Return for the financial years 1917, 1918, 1919 & 2020, Waiver of interest on payments as per GSTR 3B for all assesses up to annual turnover of Rs.10 crores, reduction of GST rates on medical oxygen and introduction of special scheme to make payment of all refund under GST law and requested for all pending disputes under Sab-ka-viswas scheme should be reviewed and grievances be redressed.