(All Taxes and Duties of Central ,State and Local body Government except customs or import duties which functions as International Trade Balancer).

 

 

  • This deduction is to be effected on receiving/credit accounts only.
  • This deducted amount will be credited to different Government levels like Central, State and Local
    (say 0.7%, 0.6%, 0.35% respectively).
  • Transacting Bank will also have its share in this amount as the bank has a key role to perform
    (say 0.35%).

 




 



This means, Cash Transactions above this limit will NOT enjoy any legal protection.