Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM), Pune, in collaboration with the Ministry of Cooperation, Government of India, successfully conducted a significant online training program on October 31, 2023.
This program, titled “Multi-State Cooperative Societies Act and Rules 2002 and Income Tax Provisions for Cooperative Societies for the Auditors Empaneled by CRCS,” was specially organized for empaneled Chartered Accountants and Auditors by CRCS.
The primary objective was to enhance their knowledge and expertise in cooperative sector regulations and income tax provisions.
The training program aimed to disseminate in-depth information about the amendments made to the Multi-State Cooperative Societies Act and Rules 2002, offering valuable insights into the Income Tax Provisions for Cooperative Societies.
Dr. Hema Yadav, Director of VAMNICOM, Pune, provided an enlightening overview of the program, emphasizing the essential role of a strong cooperative sector in the socio-economic development of our nation.
The program was inaugurated by Shri. Vijay Kumar, Special Secretary and Central Registrar of Cooperative Societies, Ministry of Cooperation, New Delhi. Shri Kapil Meena, Director of the Ministry of Cooperation, highlighted various initiatives undertaken by the Ministry to strengthen the cooperative sector of India.
Raman Chopra, Joint Secretary from the Central Board of Direct Taxes, shared his extensive experience and shed light on the provisions of income tax for Cooperatives. A comprehensive discussion on deductions under Section 80P and other aspects of deductions was covered by CA Sharad Vaze of Sharad A. Vaze & Company.
This training program witnessed the active participation of over 250 participants from various states across the country, including Kerala, Gujarat, Maharashtra, Bihar, Chhattisgarh, Haryana, Karnataka, Delhi, Andhra Pradesh, and others. Throughout the program, participants actively engaged with speakers during interactive Q&A sessions at the end of each session.
A vote of thanks was proposed by Dr. Hema Yadav, Director of VAMNICOM, Pune. She informed that in the future more such insightful programs will be organized by VAMNICOM in collaboration with the Ministry of Cooperation.
