Banks in the tension will stop, free services you get
The banks charging charge from non-mortgage customers are now in tension. But you do not have to be happy, because this tension can also increase your headache.
On the basis of which minimum balance maintenance is done, the tax demand is based on tax on the basis of which the bank levits the penalty from customers not paying minimum balance.
That is, the s min account has been levied on the account as compared to the minimum balance maintenance as the amount is levied by the bank, not by the non-maintenance customers.
In fact, the tax department has recently asked some banks to pay tax on the free services given to customers who do not have minimum account balance maintenance. Let us tell you what it means and how it will affect your pocket.The country's top banks, such as SBI, HDFC, ICICI, Axis and Kotak Mahindra, have been asked to pay taxes for the free service given to those customers who did not have minimum balance maintenance in the account.
Due to the average Minimum Balance Maintenance in the account, you get many services free. But if the bank has to pay taxes on these services, then it can not get free services such as ATM transaction, fuel surcharge refund, check book, debit card. This tax has been sought from the date of the date which is about thousand crores. DGGST has issued notices to banks to show cause for this matter. Such notice may also be sent to other banks. The bank has demanded the withdrawal of the notice from the tax department following this notice.
Banks have been demanding the last five years of tax. Banks are worried that they will not be able to ask for this money from the back date. And if tax is kept, then customers will be able to go ahead and raise their burden. cilck hare