https://www.taxtmi.com/circulars?id=2848 The Finance Act, 2005 levies the Banking Cash Transaction Tax on specified cash withdrawals and cash received on encashment of term deposits with scheduled banks. The taxable base is the aggregate cash withdrawn or received on encashment in a single day in the name of the same person from the same account, with defined exemptions and non aggregation rules across branches; banks must collect the tax at transaction time and remit monthly aggregate collections to the Central Government, maintain primary and summarized databases, file monthly and annual returns, and comply with assessment, refund and appeal procedures. en-us Fri, 03 Jun 2005 00:00:00 +0530 Mon, 11 Aug 2008 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2848 The Finance Act, 2005 levies the Banking Cash Transaction Tax on specified cash withdrawals and cash received on encashment of term deposits with scheduled banks. The taxable base is the aggregate cash withdrawn or received on encashment in a single day in the name of the same person from the same account, with defined exemptions and non aggregation rules across branches; banks must collect the tax at transaction time and remit monthly aggregate collections to the Central Government, maintain primary and summarized databases, file monthly and annual returns, and comply with assessment, refund and appeal procedures. Circulars Income Tax Fri, 03 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2848