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of <h1>Exemptions to Banking Cash Transaction Tax: Section 112A of Finance Act 2005 exempts specific bank-to-bank transactions post-June 1, 2005.</h1> Section 112A of the Finance Act, 2005, specifies that the provisions of the chapter concerning the Banking Cash Transaction Tax do not apply to certain taxable banking transactions conducted on or after June 1, 2005. Specifically, these exemptions include transactions between a scheduled bank and a banking company or a co-operative bank, as well as transactions between two scheduled banks. This section was introduced through the Taxation Laws (Amendment) Act, 2005.
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