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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)
Karthik_67
Karthik_67 11 years 1 month ago
Good move to provide incentives to electronics transactions with tax benefits. Hope the idea materialises soon and the genuine middle class tax payers get some benefit.
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Harpreet Singh_23
Harpreet Singh_23 11 years 1 month ago
Please also remove the transaction fee on NEFT, IMPS etc. Example: If i want to pay merchant/someone and there is charges on neft, so i usually go to bank/atm withdraw amount and pay him in cash. If there will be no charges or there will be some kind of rebate to pay via neft/imps i would not go to bank and pay via netbanking only. This will encourage the online transactions, white money, save fuel, environment, paper, More tax for gov. and much more benefits.
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Umesh Sharma_7
Umesh Sharma_7 11 years 1 month ago
Income tax rebates on electronic transactions is a phenomenal thought and a great initiative. This will certainly reduce the black-money transactions and will encourage transparent flow of liquidity. This, in-turn, will strengthen the economy. Also the additional charges on such transactions needs to be waived to make this a great success.
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Manoj Kumar Singh_18
Manoj Kumar Singh_18 11 years 1 month ago
Electronic Transaction is very much needed to curb on cash transaction which leads to black money generation. Bank charges on shopkeepers is very high. They charge around 1.5%-2%. To avoid such charges shopkeepers says no for Cards. Sometimes margin of shopkeepers on some products are equal to bank transaction charge of around 2% , so they ask 2% extra charge for swipping card. So please reduce bank charges on shopkeepers and 1% Vat rebate which lead to increase in plastic money.
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JITENDRA BAWEJA
JITENDRA BAWEJA 11 years 1 month ago
Being slaried individual income received is alrady taxed. Any tax levied has to be paid during purchases as well. Service tax added to use of phones, restaurants etc also has to be paid. We would prefer to do all the transaction using credit / debit card. The proposal to provide tax rebate is really a good idea - this will provide major relief to salaried individuals. help to curb black money. Major effect would be increase in tax collections. This can help reduce the income tax rates as whole.
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Harpreet Singh_23
Harpreet Singh_23 11 years 1 month ago
I went to purchase jewelry and wanted to pay via cc/dc but shopkeeper said 2-3% extra would be charged. So i went outside the shop, went into an ATM and withdraw the cash and paid him. So, please remove this extra 2-3% charge so people can pay via dc/cc. Same with IRCTC. Please remove the extra amount we pay in online transaction , its too much. Why would i pay extra 40-50 rs for same when i can go and buy it via counter front of my house ?
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Harpreet Singh_23
Harpreet Singh_23 11 years 1 month ago
Please give major tax rebate so more people will do it. Make it like more you do , more you get rebate. For example: If buyer does transaction 1 lakh rs in financial year he gets XYZ rs rebate. If buyer does transaction of 5 lakh he gets XYZ rs rebate and so on. This will encourage him to do more and he will go to shop who accept cards and this will also encourage shops to accept cc/dc. Same keep it for shopkeeper, more they take via cc/dc more they get rebate.
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