Campco has hailed India government’s decision not to impose 2 per cent TDS on cash payments of above Rs. 1 crore earned through APMCs (Agricultural Produce Market Committees).
SR Satishchandra, Campco president, said the entire farming sector has welcomed the government’s decision.
Satishchandra said a delegation of arecanut cooperatives had apprised the govt. of the problems being faced by farming community.
Finance Minister Nirmala Sitharaman had said agents operating under APMCs have been exempted from 2 per cent TDS on cash payments over Rs 1 crore to avoid inconvenience to farmers and other stakeholders in the agricultural sector.