Banking Cash Transaction Tax withdrawal removes tax on cash withdrawals while preserving limited exemptions for small-value withdrawals. The note records that the Banking Cash Transaction Tax (BCTT) was withdrawn effective 1-4-2009. While in force, BCTT applied at a rate of 0.1% with no surcharge or education cesses, and exempted cash withdrawals below specified thresholds for Individuals/HUFs and for other entities.
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Banking Cash Transaction Tax withdrawal removes tax on cash withdrawals while preserving limited exemptions for small-value withdrawals.
The note records that the Banking Cash Transaction Tax (BCTT) was withdrawn effective 1-4-2009. While in force, BCTT applied at a rate of 0.1% with no surcharge or education cesses, and exempted cash withdrawals below specified thresholds for Individuals/HUFs and for other entities.
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