Tamil Nadu   

Coop bank staff plea

Special Correspondent

CHENNAI: All-India Cooperative Bank Employees Federation has urged the Centre to repeal the amendment to Section 80 P of the Income Tax Act, which provides for payment of income tax on profits earned by cooperative banks.

General secretary P. Balakrishnan said instead of encouraging the cooperative institutions, the Centre had made the amendment affecting the financial position of the cooperative banks.

The federation would stage a dharna in New Delhi on February 19, he said.

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