Traders meet Bittu, demand abolition of tax clause

Ludhiana, July 13

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Traders and members of Punjab Pradesh Beopar Mandal met the Minister of State Ravneet Singh Bittu. They apprised him that abolition of Section 43-B of the Income Tax Act was the need of the hour as payments within 45 days were not viable.

Sunil Mehra, president of the association, said prior to Lok Sabha elections, a lot of hue and cry was raised over this issue and the BJP government representatives had assured that they will take action if the party came to power again. Now, it must fulfil its promise.

The members said when traders, industrialists, vendors were having cordial relations with each other and payments can be adjusted for 90 days, then why was the government adamant on the release of payments within 45 days? The members said this was affecting their business. The members requested Bittu that this clause should be abolished in the upcoming budget to provide a breather to the industry.

They also asked for an industrial package for the Industry.