SRINAGAR: J&K Bank is planning to open ‘business facilitation centers’ at all the districts for startups and existing MSME businesses to promote inclusion in formal economy thereby enabling credit flow from banks. The said centers will also create awareness about financial discipline and facilitate the filing of Income Tax Returns by businessmen across districts.
This was stated by J&K Bank Chairman, Parvez Ahmed at a function ‘Celebration of Income Tax Day’, organised by the Income Tax Department, Srinagar here at the Institute of Hotel Management (IHM) Rajbagh on Tuesday.
He lauded the role played by income tax (I-T) department while operating in challenging situation in the state. Parvez Ahmed said, “In the context of J&K, while I stand here representing a taxpayer corporate, I must admit that the department with a facilitator’s attitude is working harmoniously with the taxpaying entities in J&K with least incidents of the policing approach which is a big positive for the society in J&K at large which is having its own set of challenges,” a bank handout read.
Chief Commissioner, Income Tax Department (Amritsar), Narinder Singh spoke in detail about the need of paying taxes voluntarily to the government.
He said, “People need proper roads to travel, hospitals for healthcare, educational institutions, courts to dispense justice and other such organisations for various public welfare issues. And, to do all this government needs money which comes from different kinds of taxes. Income Tax is one of these. So, if we really want to avail the best public facilities for our socio-economic well-being we must pay our taxes readily and fully.”
Highlighting the importance of J&K for the I-T department, Singh said, “J&K is a special concern for our department and we always want to make it hassle-free and harassment-free for all taxpayers in the state. J&K will soon have an Additional Commissioner besides a separate Commissioner Income Tax (Appeals). We have extended our total support to the state during last floods and shall continue to do the same in times of need.”