Debits Tax

Debit tax was introduced with the enactment of Debit Tax Act No. 16 of 2002 effective on 1 st of June, 2002. This was amended in 2003 and in 2007. The debit tax shall be levied at the rate of 0.1% on the total liable debits made during each calendar month from any current account maintained at a Commercial Bank or a Specialized Bank or from each savings account maintained at a Commercial Bank, a Specialized Bank or a Finance Companies. This is applicable on debits which exceeds Rs. 20,000/- per month.

Debits Tax Act No.16 of 2002 [ | | ]
[Certified on 19th August, 2002]

Debits Tax (Amendment) Act No.5 of 2003 [ | | ]
[Certified on ]

Debits Tax (Amendment) Act No.12 of 2007 [ | | ]
[Certified on 11th April, 2007]

Debits Tax (Amendment) Act No.17 of 2009 [ | | ]
[Certified on 31st March, 2009]

More Details
Tax Payer Service Unit - 011 3009011, 011 3009048
Secretariat Unit - 011 3009246, 011 3009262