Chamber of Commerce submits memorandum to IT commissioner

Chamber of Commerce submits memorandum to IT commissioner
SE Report

GANGTOK, March 8: A 30-member delegation of Sikkim Chamber of Commerce drawn from all the four districts of Sikkim today submitted a memorandum to Income Tax Commissioner CL Denzongpa in his office at Matigara, Siliguri

In the memorandum signed by 6000 persons, SCC has requested Ministry of Finance, Government of India to grant IT exemption like that of Sikkim Subjects to about 400 families of Sikkimese of Indian origin who are settled in Sikkim, prior to the date of Sikkim’s Merger with the Indian Union in 1975.

The business association has also requested the ministry to allow some time to enable people and persons to understand the new system of Indian Income Tax and its forms, formats, rules, regulations, documentations, accounting procedures, compliance formalities, datelines, penalties etc and further to declare the prospective effect of the Act to commence from Assessment year 2010-11 vide memo no GOS/IT&CT/2005-06/11-I (B) (96) 193 dated August 18, 2006.

“A survey of the said 400 families as advised is in progress, to be submitted for consideration by both the State and Union Governments,” reads the memorandum.
The memorandum further states that the people are unable to adapt the Income Tax Act 1961 so suddenly being besieged with a fear psychosis and completely innocent of the Act and need extensive education on book keeping to match the requirements of the Income Tax Act 1961 by way of workshops, awareness camps and training programmes.

It was also conveyed to the Government of India through the Commissioner that the State Government under the leadership Pawan Chamling was fully sympathetic on the matter and was doing its best to solve both the issues raised by the Chamber. “The Chief Minister has personally taken up the matter with the authorities in the Centre and also been kind enough to adopt a resolution to such effect in his Party’s foundation day on March 4. SCC and the business community of Sikkim are grateful to all the people of Sikkim and especially Dr Pawan Chamling, Chief Minister for their sincere efforts in this direction,” the memorandum further reads.

Meanwhile, SCC president SK Sarda thanked Government of India for having exempted the Sikkim Subjects and COI holders from Income Tax.
( Source: Sikkim Express)