Banking cash transaction tax abolished

Taxpayers will not have to pay the levy on withdrawal of cash from banks with the government withdrawing the Banking Cash Transaction Tax (BCTT) from Wednesday. The government had introduced 0.1 per cent BCCT in 2005 on cash withdrawals of more than Rs 50,000 (individuals) and Rs 1 lakh for other

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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Banking cash transaction tax abolished

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