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| CCI apprises hopeless trade condition of state | | | EARLY TIMES report
Jammu, Sept 15: President Chamber of Commerce & Industry through a communication has apprised the Union Finance Minister that J&K state is passing through bad phase due to turmoil for the last 3 months in Kashmir Valley and surrounding areas in Jammu.
The economy of the state is mainly dependent on tourism and due to unrest in the valley the tourism is totally shattered in entire state. The industry is also in shambles and at the verge of closure due to this unrest.
In a press release issued today Y.V. Sharma, president CCI said that the trade has suffered miserably in the whole of the state as the markets are not functioning normally. The economy of the state is inter-dependent as the industry is located mostly in Jammu. The trade hub is also centralized in Jammu and from here the entire state including valley is fed.
So, keeping in view the prevailing circumstances it is not possible to complete the books of accounts and get audited. The Finance Minister was requested to extend the date for filing of Income Tax returns of audited balance sheets and to compensate the huge losses to trade and industry till the situation is normalized. The copies of the communication have also been sent to the Chairman CBDT and Chief Commissioner of Income Tax. |
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