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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)
Vaidy
Vaidy 10 years 10 months ago
This might sound repetitive as few have already highlighted issues. We need to incentivise any new change of this margin to make it successful. While few debit and credit players already have introduced cash back, loyalty rewards and reward points rest of them are yet to follow. The points can also be easily redeemed against next transactions, which is a very unique USP which may be offered by all players. The charges being levied by merchants though not valid, especially where
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Naveen Dubey
Naveen Dubey 10 years 10 months ago
Good step if surcharge on transaction through card is abandoned.Only because of this 2.5% surcharge it is difficult to purchase electronic items through plastic money ,even rail tickets cost increases tremendously because of service tax and bank charges. Along with giving Income tax rebate if Surplus charges on transaction through card are removed it will encourage people to use Plastic money . please implement fast.
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rajeev_21
rajeev_21 10 years 10 months ago
This is very good proposal, it will provide incentive and motivation to tax payers and also control the black money transactions. To implement we should keep following points in mind 1. Encourage vendors/merchant to use Credit cards. Some time they put extra transaction cost. 2. Provide tax relief to the customer or payee , may be during tax filing by using some e-tax points. 3. Implementation should be to encourage and not for harassment.
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Durgesh Tatkar
Durgesh Tatkar 10 years 10 months ago
I believe this shall curb the black money very soon if implemented as its been already practiced in most of the developed & economically stronger countries. This move from the present government shall help us lead a stronger & cleaner monetary transactions. And who knows d day will surely come when our country INDIA will be "TAX FREE"...!!! All the best for this proposal.
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Prof Kishore kumar pillai
Prof Kishore kumar pillai 10 years 10 months ago
ALL THE FOREIGN TRIP OF PERSONS HAS TO BE INCLUDED ALL THE PRIVATE PRACTICING DOCTORS HAS TO BE DOUBLY ENFORCED FOR TAX EVASION
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Vibha Khanna
Vibha Khanna 10 years 10 months ago
Wonderful proposal! Not only covers benefits to merchants, but also some credits on personal tax front are also extended, though theses have not mentioned in clear terms, but definitely a welcome move.
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Yedukondalu N
Yedukondalu N 10 years 10 months ago
Its Very good idea: - We can track all the money transaction happening - Especially from E commerce team is not paying any taxes to government - We avoid Block money
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RISBUD SUBODH
RISBUD SUBODH 10 years 10 months ago
Hon'ble Sir WHILE MAKING DRAFT OF FACILITATING ELECTRONIC TRANSACTIONS TO MAKE MORE USER FRIENDLY AND TO SEE THAT LARGE NOS OF DAILY TRANSECTIONS MUST BE MADE THROUGH ELECTRONIC FOR FOLLOWING POINTS CAN BE MORE CATCHING AND ATTRACTIVE 1 TRANSECTION CHARGES SHOULD BE EXEMPTED 2 LOYALTY POINTS OR CREDIT POINTS FACILITY MUST BE PROVIDED 3 WHILE FACILITATING ELECTRONIC TRANSACTIONS"NET BANKING CHANNEL"MUST BE GIVEN MORE FOCUS 4 DISCOUNT OF SUM MUST BE GIVEN ON BOOKING RAIL AND STATE BUSES
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