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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)
Dheeraj Retnamma
Dheeraj Retnamma 10 years 10 months ago
This is indeed a good move and have multifold benefits such as preventing tax evasion and black money, prevention of fake notes, and to an e the payment of bribes. Few points to be taken care while implementing this 1) Electronic payments can be done for smaller denominations such as 10 or 20 rs. 2) Use of mobile payment should also be enforced so that small vendors, public transportation and other service providers payments can also be made electronically.3)Stregnthen the rupay payment gateway
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Nikhil Soni_4
Nikhil Soni_4 10 years 10 months ago
It's an excellent idea. Government should encourage service providers and sellers to have only card transactions by allowing them tax sops or other incentives/rebates. Similarly consumers must be offered benefits like tax exemptions/zero transaction charges on card purchases. While transaction charges must be eliminated for card transactions, there must be significantly high charges for cash dealings. This will be a big step to curbing flow of black money in the market. GOOD INITIATIVE !!
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Bharath Ramakrishna
Bharath Ramakrishna 10 years 10 months ago
This will be a very good initiative, which would avoid people transacting physical cash. Please work on stopping surcharges on payment made through Credit card like railways!
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tijo Joseph
tijo Joseph 10 years 10 months ago
At present, those who spend through electronic means are treated as criminals and attracts, many charges, like transaction charge, service tax, convenience fee. ...I had shifted to electronic mode of payment for last 5 years for almost all possible chances for my day to day activities like purchase of household items, bill payments, etc. But, I feel that I made more taxes on this account, by helping government to get proper billed transactions in my 60 percent expenditure for last 5 years.
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Hemant G
Hemant G 10 years 10 months ago
1) The below proposal should also be included in Real Estate Transactions compulsorily; high value transactions of more than Rs. 1 lakh, only by electronic means. 2) Gold and Jewelry transactions should be made mandatory electronic mode with no surcharge, it is common to charge 1-2% for Gold transactions by merchants and they are discouraging this and encouraging cash transactions making them easy to avoid tax. 3) Cheque payments should also be considered as senior citizens may prefer this.
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Sreejith S_3
Sreejith S_3 10 years 10 months ago
Good Initiative. However some merchants and service providers (eg: LIC of India) are charging extra charges for credit/debit card usage. Kindly discourage this practice and do something to stop them from charging extra amount for credit/debit card usage.
lic.pdf
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Paritosh Mhaisekar
Paritosh Mhaisekar 10 years 10 months ago
The proposal suggestions are excellent. Discounts for consumers using epayments and tax breaks for merchants for disclosing epayments. will give honest taxpayers benefits as well help avoid stashing cash
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Ronald Jose
Ronald Jose 10 years 10 months ago
This is a good move as no need to carry money in hand,we can track expenses easily through a bank statement. But the banks are charging some amount because of which some shops are not accepting cards. With the help of this move, i think that mentality will change
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Gaurav Jain_25
Gaurav Jain_25 10 years 10 months ago
It is good move to give rebate for transactions done electronically 1) There should not be any transaction charge whether it is electricity/ telephone/ water/ gas/ ticket booking or any other payment done through cards 2) A lot of merchant charge 2% surcharge for payment through cards this should be done away. 3) Instead of Income tax relief direct tax benefit should be there like lower rate of VAT/ service tax should be applicable for electronic payment
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