To highlight the problems faced by the sick knitwear units and its possible solution, an interactive meeting between the Federation of Knitwear, Textile and Allied Industries Associations (FEKTAA) and MNA Choudhary, Income Tax Commissioner, Ludhiana, took place at hotel, Tuesday.
In the presence of the General Secretary, Knitwear Club, Narinder K Miglani and Income Tax Officer B S Chauhan, Vinod K Thapar (President FEKTAA, Knitwear Club) cited the difficulties faced by the industry. He categorized the surveys of Income-Tax on sick knitwear units being the cause of their declining condition.
The Income-Tax Commissioner, Choudhary informed that a fully-computerised system for filing speedy I-T returns and refunds has been put in place. For smoother assessment and availing of Fringe Benefit Tax, he advised them to maintain accurate stocks and adopt ethical business practices.
H L Nayar, Founder President, P C Sachdeva, Prem Sagar Jain, Surinder K Palta and Ashok Jain (President, BRTK - Bahadurke Road Textile and Knitwear Association) took part in this open house discussion with the Commissioner and representatives of the knitwear industry.
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