No tax on services rendered by business correspondents to rural banks
The Modi-led government has taken yet another step to improve the economic viability of banking operations in rural India, giving a further impetus to financial inclusion in the country. The Finance Ministry announced service tax exemption on services rendered by business correspondents or business facilitators to banking companies for its rural branch accounts.
Rajat Mohan, Director- Indirect Taxation shares his views on aforementioned story for Hindu Business Line.
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