J&K Bank to open business facilitation centers for startups and MSMEs

New Delhi, July 25 (KNN) J&K Bank is planning to open Business Facilitation Centers at all the districts for startups and existing MSME businesses to promote inclusion in formal economy thereby enabling credit flow from banks.

This was said by J&K Bank Chairman and CEO Parvez Ahmed at an event “Celebration of Income Tax Day” which was organized by the Income Tax Department, Srinagar at the Institute of Hotel Management (IHM).

The aforementioned centers will also create awareness about financial discipline and facilitate the filing of Income Tax Returns by the businessmen across the districts.

J&K Bank Chairman who was invited as the chief guest lauded the role played by IT department during the challenging times and said that the department with a facilitators attitude is working harmoniously with the taxpaying entities in J&K with least incidents of the policing approach which is a big positive for the society in J&K at large which is having its own set of challenges.

Earlier in his presidential address, Chief IT Commissioner Narinder Singh spoke in detail about the need of paying taxes voluntarily to the government.

He said, “People need proper roads to travel, hospitals for healthcare, educational institutions, courts to dispense justice and other such organizations for various public welfare issues. And to do all this government needs money which comes from different kinds of taxes. Income Tax is one of these. So if we really want to avail the best public facilities for our socio-economic well-being we must pay our taxes readily and fully.”

Highlighting the importance of J&K for the IT Department, Chief IT Commissioner said J&K is a special concern for our department and we always want to make it hassle-free and harassment-free for all taxpayers in the state.

J&K will soon have an Additional Commissioner besides a separate Commissioner Income Tax (Appeals), he added.