Date:26/07/2005 URL: http://www.thehindubusinessline.com/2005/07/26/stories/2005072602830900.htm

Back No tax on inter-bank transactions

Our Bureau

NEW DELHI: The Government has decided to exempt inter-bank transactions from the levy of banking cash transaction tax.

All scheduled banks have been advised not to collect banking cash transaction tax on such transactions.

A circular to this effect has been issued, a release issued by the Finance Ministry said on Monday.