Banks Grapple With More Than Rs 15,000-Crore Tax Demand On Free Services

India asked about 19 banks to pay more than Rs 15,000 crore tax on free services provided to customers who maintain a minimum account balance, four officials with direct knowledge of the matter said, even after the government clarified that these services are not taxable. The government asked banks to pay the tax retrospectively for the last five years, two of the four people quoted above said req…