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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)
Krishna R Pillai
Krishna R Pillai 10 years 9 months ago
Excellent decesion to provide tax benefits to individuals for paying through debit/credit cards and also to merchants accepting payments through e-cash mode.Further making non cash payments mandatory for all payments above 1 lac is verymuch appreciable.All this will make a big impact in curbing black money and significantly improve the tax collection.
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Vishwanath_19
Vishwanath_19 10 years 9 months ago
Great initiative. All transactions above a certain value should be made electronic. To start with it can be 10K and above. Government must also do with the additional surcharge being levied at petrol pumps and train/flight reservations. Gr8 way to curb black money.
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Dr Jacob Sakariah
Dr Jacob Sakariah 10 years 9 months ago
Hats off to Arun Jaitley ji for such a welcoming step. Cashless transaction should be made mandatory for the following transaction : 1) All property transactions like plot, house or apartment 2) All transactions above Rs. 10,000/- 3) All transactions relating to Air travel whether domestic or international. 4) All transactions in resorts /Hotels. All Surcharges on electronic transactions should be done away with. Charges at the merchant establishments should also be scrapped.
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Sujit Kumar_5
Sujit Kumar_5 10 years 9 months ago
This is fantastic. I stay in Mumbai and see people are even coming to malls and marts and paying huge cash. That definitely cannot be white money. I would be surprise to know that even a single deal in real estate happens in pure white. This will be a huge step to curb the black money nonsense and will bring equality among business class and service class.
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Abhilash Reddy Angeri
Abhilash Reddy Angeri 10 years 9 months ago
Its good initiative from govt of India. Technology has improved was more than debit and credit cards too, like google wallet, apple wallet which encourage people using cashless transaction. Above 100000 only with electronic way is a good milestone towards paper less transaction. Decrease the tax on the gadgets which accept cards and NFC capable devices with which small shop keepers in towns and villages uses them too.
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hemant shinde
hemant shinde 10 years 9 months ago
It is really a good initiative to curb the black money but cashless transactions should be encouraged through means of removing any kind of surcharges,tax benefits. Right now we do not have good infrastructure. It should be made compulsory for merchants for certain percentage of transactions through electronic means.
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Tirupatirao Sanapala
Tirupatirao Sanapala 10 years 9 months ago
Great initiative. Thank you to Modiji's Team. All public sector transactions can be made mandatory through e-transactions.
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Saurabh Arora
Saurabh Arora 10 years 9 months ago
This is a great inititative. Countries like Canada and US are already doing that. Be it a cab ride or Buying a House. It works!. Also this will encourage people to open bank accounts , learn more about internet banking (which is safer than carrying cash). Along with CC/DC payment, NFC payment like Google/Apple Pay should also be included. We should adapt new technologies as we move ahead.
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