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Draft Proposals for Facilitating Electronic Transactions

Draft Proposals for Facilitating Electronic Transactions
Start Date :
Jun 16, 2015
Last Date :
Jun 29, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)
Abhirup Bhadra
Abhirup Bhadra 11 years 1 month ago
#Economy...Govt. should increase the Education cess, Health cess, Environment cess on the corporate sector companies and the rich people.
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Abhirup Bhadra
Abhirup Bhadra 11 years 1 month ago
#ElectronicTransactions......The first of all, Govt. should make a commission under the jurisdiction of Finance and I&T ministry which will comprise best brains from leading universities, IITs, Security agencies, NIC, NASSCOM and from a good number IT security specialists from leading IT sector companies, just to make a state of the art banking transactions network, portal and channels and necessary security softwares whichcan upgrade the infrastructure of e-transactions...
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Mohit Sharma
Mohit Sharma 11 years 1 month ago
Companies should not be allowed to withdraw cash from the bank accounts for salaries. All the employees (even on contract) should be paid online in bank accounts. Payment for Fuels should be first made cash free. This will help reduce the black money
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namrata joshi
namrata joshi 11 years 1 month ago
In PSUs,when employees submit their house rent receipt yearly then max of them do not show original rent so that they can get tax rebate .Also in case of lease approvals,no strict checking is done about landlords or whether employee is actually living there.So both the employees and owners are getting wrongly benefitted.Owners rescue themselves from paying taxes as their properties are not getting disclosed to government.Employees enjoy tax rebates by showing wrong rent receipts.Govrnmnt should
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Rajendra Mehta
Rajendra Mehta 11 years 1 month ago
SBI may be asked to issue Aadhar based card for the purpose. This card can work as Aadhar cum Debit(prepaid) cum Voter card. All money spent on this card may be given 1% cash back without touching other tax structure. This will automatically collect recipient identity.
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Ramamurthy_2
Ramamurthy_2 11 years 1 month ago
The incentive for online/Card transactions is good. The payments to be linked with PAN or Aadhar number. The individual should have the facility to know how much is spent during a financial year by online/Card transactions. It will be helpful to have control on his spent and when tax credit/exemption is made available he can plan his advance tax.
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BHARATKUMAR GOVINDBHAI PATEL
BHARATKUMAR GOVINDBHAI PATEL 11 years 1 month ago
Government Should Identify areas where more Black Money are involved. After considering the same more incentives should be declared for Electronic Transactions in this higher risky areas.
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Nikhil Tyagi
Nikhil Tyagi 11 years 1 month ago
This is good initiative by the government. All the shopkeeper are not paying there income tax.I guess this will help income tax department to watch such persons/shops.I can't say this will work 100% to stop black money in the country but will help in some extend,also government should take some more action to stop the black money.Mostly all the business men don't pay the tax...
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V G kumar
V G kumar 11 years 1 month ago
Good idea. However as long as parallels are working, there is always scope for mischief. Please take the electronic system to majority, removing the fears in the minds of sellers as well as buyers supported by strong and sustainable Internet access at a low cost.
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