Friends. I am completely demoralised while posting this update. Far from hearing the voice of over 2.30,000 Indians who have signed this petition about high, arbitrary and unfair bank charges we face a new tax horror. The tax department wants to extract taxes on 'services' that are ostensibly provided FREE to bank customers. What can be more absurd than this? It has happened because we as customers are not taking our protest to the next level or protesting enough. According to a report in The Economic Times on 24th April, the tax department has sent a notice to banks seeking Rs40,000 crore as their absurd calculation of the value of "free services" to depositors who maintain a minimum balance. The mind boggles at this outrageousness. First, banks are extracting charges from us when they already earn 6-9% on our deposits - this is the highest spread in the world! We are already demanding that these charges must be scrapped forthwith. Secondly, banks operate like a cabal to ensure customers have no choice but to pay. Thirdly, bank deposits are already taxed at the highest level, how ridiculous is it to dream up taxes for basic banking operations like deposits, withdrawals, balance inquiry and cheque books? The problem starts with banks having pretended that this is a big 'service' and favour they are doing us. Lets wake up and fight for our rights now! Read the link below and do spread the word and get more people to sign. We need to get more signatures here! Thank you . Sucheta