Banking cash transaction tax/withdrawal tax.

PRASAR BHARATI (Broadcasting Corporation of India), Budget &Accounts Wing,
PTI Bldg, Sansad Marg, New Delhi - 110001.

No.GM(B&A)/PB(BCI)/A/c Sec./05-06/1421                                     dated 23.06.2005


Subject:- Banking cash transaction tax/withdrawal tax.

Finance Act 2005 has imposed banking cash transaction tax. It is tax on cash withdrawals by an account holder with a scheduled bank from any account except saving bank w.e.f. 01.06.2005. In any single day if cash withdrawal from a single account exceeds Rs.1,00,000/-, amount equal to 0.1% of the amount withdrawn in cash is charged by bank as tax. To minimize the transaction tax liability, this has been decided that all DDOs of Prasar Bharati would pay the salary/GPF or other individual payments by cheques or by electronic clearance system only.The third party payments may also be paid by Cheque/ECS. The DDOs would be personally responsible for payment of transaction tax in violation of these instructions.

This issues with thre approval of CEO, Prasar Bharati.



General Manager (B&A)



Director General(AIR), Director General (Doordarshan)

DDG(F),AIR,New Delhi with request to send satellite message to AIR stations and advise to send copy to near by DD centers where this facility is not available.

Manager(Budget), Prasar Bharati, All DDOs & PAOs of Prasar Bharati.