Rediff News
All News
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp  » Business » Should there be withdrawal tax?

Should there be withdrawal tax?

February 28, 2005 15:58 IST
Get Rediff News in your Inbox:

The finance minister has levied 0.1% tax on withdrawal of cash of Rs 10,000 or more from banks or ATMs in a single day.

So if you withdraw Rs 10,000, in a single day, you will have to pay a tax of Rs 10 on it. He says this will check black money generation.

Do you agree with this move? Should you pay tax on your own money (on which you have already paid tax)?

Tell us what you think!

Also see: Budget 2005-06: Complete Coverage

Get Rediff News in your Inbox:

Moneywiz Live!