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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)
T N RAMANATHAN
T N RAMANATHAN 11 years 1 month ago
Respected Sir, As a rule all transactions under online purchase by filipkart, sanpdeal , Amazon etc , Payment in all star hotels irrespective of their star category, all purchase of Gold articles ,all payment under real estate transactions,payment to club Payment in corporate hospitals, all transactions in super markets, BIg malls etc.payment to College tuition fees ,the school fees etc, Purchase of cars , bikes, any two wheeler etc be brought under compulsory debit /credit card system
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T N RAMANATHAN
T N RAMANATHAN 11 years 1 month ago
Respected Sir,It is the right move but before that we shall ensure that all security system is in place. The HON'ble PM will do well if the Super computers and Main Servers that will store these huge data are installed in India itself so that no data will fall in to foreign hand. Today's THE HINDU English daily with HQ in Chennai carries a beautiful article how the cyber space provides scope for cyber terrorism. with this in mind the scheme may be launched.
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HARI PRASAD
HARI PRASAD 11 years 1 month ago
As a first step disallow cash transactions in business entities having turnover of more then 10lakhs and In Banks cancel the withdrawal and deposit of cash more then 10000/- in Cash per day for an individual
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Dinesh Kumar_71
Dinesh Kumar_71 11 years 1 month ago
We can go ahead with this.,, Major disadvantage of having Hot cash is i wont earn any interest of that at the same time bank also wont use the money for any purpose...It means till i spend it ll have no value..,,,but if its a electronic money i ll earn interest till i spend.,, other disadvantages are safeguarding,Counterfeit. Which wont happen in electronic money.
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vijay kumar kasera
vijay kumar kasera 11 years 1 month ago
Income tax rebate of 1-2% should be allowed to assessees of the total payment made by him during a year through e payment with debit/credit card, net banking, neft etc.
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VISHNU CS
VISHNU CS 11 years 1 month ago
Strictly bar large scale fabric,gold and electronics retailers from accepting cash above Rs.15000/- limit. The purchase above this amount may be mandatorily done through Credi/debit card.
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VISHNU CS
VISHNU CS 11 years 1 month ago
First of all let our govt/public sector cos. counter like Indian Railway, L.I.C. of India, BSNL etc make arrangements for acceptance of payment through cards.I think, this boost the confidence of average people in using their plastic cards 'directly' for transactions. Government can think of integrating plastic debit/credit card as more like a ID card strictly, so that they may not be misused. The carrier's thumb impression (Biometric) may be used instead of ATM PIN for that.
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Prasun Sarkar_1
Prasun Sarkar_1 11 years 1 month ago
There is existing scope of tax rebate by way of deductions under Section 80C for expenditure made on account of Tution fees. Many school authorities are collecting huge amount on other heads from guardians and not showing these incomes as operational profits thereby evading Income Tax. Such transacton of collecting fees should be made compulsorily through either Online/ Netbanking or Debit Card aided or atleast through Account Payee Cheques. The basic concept is to make such incomes accountable.
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Nibedita Acharya
Nibedita Acharya 11 years 1 month ago
To encourage E transaction provide tax rebate, direct discount.provide preferencial services to customers .impose additional tax on cash transaction. Provide E-transaction facilities every where. Link insurance scheme , minimise service charges for E-transactions
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