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India said to be asking banks for at least 20b rupees in back taxes

The Indian government's tax demands affect the entire industry, and banks are said to be probably joining together to challenge them in court.

New Delhi

INDIA plans to issue demands for back taxes amounting to a total of at least 20 billion rupees (S$420 million) from about a dozen banks as part of a government investigation into services levies, according to two officials with direct knowledge of the matter.


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