GOVERNMENT OF INDIA
English language

Home | MyGov

Accessibility
Accessibility Tools
Color Adjustment
Text Size
Navigation Adjustment
Screen Reader iconScreen Reader
Menus
Sticky Menu

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.

Reset
Showing 1250 Submission(s)
Pawan Garg
Pawan Garg 11 years 1 month ago
After the initial steps of encouraging the Debit/credit or e-transaction, following bold step can also be taken: 1) For all Taxpayer individuals, the amount of expenditures made through above mentioned methods shall be adjusted from their Net Taxable Income. The incentive of single taxation (either Direct or Indirect Tax) can encourage the salaried people to make on-line transactions. On the other hand, other people will be encouraged to account their transaction for such benefits.
Dislike (0)
Reply
Report Spam
Vishal Sehgal
Vishal Sehgal 11 years 1 month ago
The allotment of payback card would be for two things: 1. for recording of every transactions carried out. 2. for a specific amount a certain point can be allocated(i.e: for Rs.1000 of tax paid in any form we get 10points) then at final tax payment with government one can redeem these points by taking tax rebate.
Dislike (0)
Reply
Report Spam
Pradeep Rao
Pradeep Rao 11 years 1 month ago
Very good move... I suggest to tax or impose service charges on currency withdrawal from banks and ATM. Which will reduce currency availability and limit black money generation.
Dislike (0)
Reply
Report Spam
NANDAKUMAR MARUVANCHERY
NANDAKUMAR MARUVANCHERY 11 years 1 month ago
This is a step in the right direction.Please ensure the following. 1.All shops from shopping malls to paan gumti shall be issues POS(point of sales) either free of cost or with subsidy. 2. Pursue people to use credit cards and debit cards for all transactions. 3. Limit maximum cash withdrawal to Rs.100,000 4. Ensure all real estate transactions are carried out between the Seller's bank and Buyer's bank. 5. Make all political donations through bank. 6. Issue Ru-Pay cards to all citizens.
Dislike (0)
Reply
Report Spam
Vishal Sehgal
Vishal Sehgal 11 years 1 month ago
This new endeavour is welcomed. However the same can be incentivised in ways: 1. The franking charges on purchasing from credit and debit cards can be waived off. 2. A type of pay back card could be given to people so that every time they pay tax of any type anywhere they can swipe the card and get that transaction recorded in their account and for which at the time of payment of income tax they can get some tax rebate. It is just similar to spending through a credit card and credit card
Dislike (0)
Reply
Report Spam
Pawan Garg
Pawan Garg 11 years 1 month ago
This is really a very good idea. In my opinion, this idea has full support of complete salaried class. As per my understanding government can implement following measures at initial level: 1) Elimination of additional charge/surcharge on Debit/Credit Card transaction levied by Merchants including jewellers. 2) Elimination of all type of transaction charges levied by all types of service agencies like Railways, air service providers, Electricity & Water Departments, Insurance Providers etc.
Dislike (0)
Reply
Report Spam
Mitesh_7
Mitesh_7 11 years 1 month ago
initially to promote should try to give some discount on purchases made thru Debit Card. also should try to waive off the Bank charges
Dislike (0)
Reply
Report Spam
Sticky Menu