With the aim to strengthen the cooperative movement in the country and deepening its reach up to the grassroots, the Union Cabinet on Wednesday approved the setting up of a new Primary Agricultural Credit Society (PACS) in two lakh panchayats in the next five years.
Get latest articles and stories on Business at LatestLY. While for cooperatives, the government extended 15 per cent corporate tax benefits to new cooperatives which would start manufacturing from March 2024. Business News | Budget 2023: Govt Simplifies Tax Benefits for MSMEs, Cooperatives, Start-ups.
The government on Wednesday simplified various tax benefits on MSMEs, cooperatives, startups and boards, authorities and commissions.According to the Union Budget tabled on Wednesday, the government had enhanced limits for micro-enterprises and professionals while availing benefits of presumptive taxation