India to Ask Banks for at Least $295 Million in Back TaxesBy
Notices may be issued by April, according to two officials
Banks can appeal tax demands but must set aside provisions
India plans to issue demands for back taxes amounting to a total of at least 20 billion rupees ($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.
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