Debit tax

Debits Tax shall be charged, On the total amount of the debits, made during each calendar month against each current Account maintained at a commercial Bank and each Saving account maintained at a commercial Bank or a specializes Bank

Debits Tax shall be charged,

  • On the total amount of the debits, made during each calendar month against each current Account maintained at a commercial Bank and each Saving account maintained at a commercial Bank or a specializes Bank.
  • On the amount realized on the encashment of a certificate of Deposit or Travelers cheques

Rate of Debit Tax is one tenth of one per centum