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India plans to ask banks for Rs 2,000 cr in back-taxes

Bloomberg  |  New Delhi 

India plans to issue demands for back-taxes amounting to a total of at least Rs 2,000 crore ($295 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. The government will issue orders for payment as early as April, the officials said, asking not to be identified because the information isn't public. The total amount of tax demands may reach more than Rs 10,000 crore through 2016 as the government probe widens to include all of India's roughly 100 lenders, the officials ...

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First Published: Tue, February 02 2016. 00:30 IST