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

  1. This deduction is to be effected on receiving/credit accounts only.
  2. This deducted amount will be credited to different Government levels like Central, State and Local
    (say 0.7%, 0.6%, 0.35% respectively).
  3. 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.