Representatives of cooperative banks, registrars and sub-registrars attended a seminar organized by Income Tax Department to learn about how to file SFT (statement of financial transaction) and AIR [annual information report] on time, reports Tribune.
Several IT officers spoke in the seminar explaining the importance of correct and timely filing of the SFT. Speakers warned that non-filing of the SFT will attract punishment.
Meanwhile, Punjab Chief Mister is reported to have urged the NABARD chairman to allow cooperative banks to diversify to enable them to widen their ambit of operations from advancement of crop loans to term loans to farmers and the rural populace.
