Rule 6(3)(D) Clarifies 50% Reversal on Interest Earned by Banks from Loans as Exempt or Taxable Service.

Rule 6(3)(D) Clarifies 50% Reversal on Interest Earned by Banks from Loans as Exempt or Taxable Service. https://www.taxtmi.com/highlights?id=25672 Credit availed on exempted services - interest earned by the bank on loans and advances, whether it is exempted service or taxable service - for the banking and financial institution under Rule 6(3) (D) the provision was available for straight 50% reversal of interest. - AT en-us Mon, 02 Nov 2015 13:58:33 +0530 Mon, 02 Nov 2015 13:58:33 +0530 TaxTMI RSS Generator Rule 6(3)(D) Clarifies 50% Reversal on Interest Earned by Banks from Loans as Exempt or Taxable Service. https://www.taxtmi.com/highlights?id=25672 Credit availed on exempted services - interest earned by the bank on loans and advances, whether it is exempted service or taxable service - for the banking and financial institution under Rule 6(3) (D) the provision was available for straight 50% reversal of interest. - AT Highlights Service Tax Mon, 02 Nov 2015 13:58:33 +0530 https://www.taxtmi.com/highlights?id=25672