Govt may ask banks for at least $295 million in back-taxes
Authorities are demanding that banks pay taxes on services they claim were rendered to customers who maintained accounts above minimum balances
The Indian government plans to issue demands for back-taxes amounting to a total of at least Rs20 billion ($295 million) from about a dozen banks as part of a government investigation into services levies, according to two officials with direct knowledge of the matter.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more