Wednesday, January 26, 2022

Chit fund industries ask centres to address levy of tax collected from their companies

Noting that the industry largely serves the lower and middle income groups, he said, "It will be possible for the industry to grow only with legislative and administrative support".

By: PTI | Chennai |
December 17, 2016 3:35:32 pm

The Chit fund industry has appealed the Centre to address the levy of tax collected from the companies as it may impact the growth of the trade. “The issue of the levy of tax to the chit fund industry should be addressed immediately. It will not only impact the work of chit fund industry but also curtail the financial inclusion cause..”, All India Association of Chit Funds, General Secretary, T S Sivaramakrishnan said. The Government should “enact” suitable laws so that the chit fund industry “grow”, he said in a statement.

Watch what else is making news:

Noting that the industry largely serves the lower and middle income groups, he said, “It will be possible for the industry to grow only with legislative and administrative support”. Sivaramakrishnan and senior officials were here to announce the Golden Jubilee celebrations of the Incorporated Chit Funds Association scheduled to be held on Saturday.

Tamil Nadu Tourism Minister ‘Vellamandi’ Natrajan, Noted political and economic analyst S Gurumurthy would take part in the event to be held in Tiruchirapalli.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
X