4 banks, ATM service providers under probe for tax evasion
The Revenue Department has reportedly launched an investigation into alleged collusion between 4 state-owned banks and ATM service providers to evade Value Added Tax (VAT) payments and wrongful claims of tax credit. The banks involved are SBI, PNB, Canara Bank and Syndicate Bank while the ATM service providers include NCR, AGS Transact, Tata Payment Solutions and Hitachi, reports said.