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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)
Surya V
Surya V 10 years 11 months ago
I totally agree. as E transactions are recorded they reduce black money. also the transactions are fast. but users must be educated of online fraud to prevent losses.
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Dinesh Duggal
Dinesh Duggal 10 years 11 months ago
Hello! I support cashless economy. But the proposal raised by govt. is still lack the right consent. Rather than request SHOPKEEPERS to play / support in this initiative, Govt. should promote INCOME BENEFITS TO CONSUMER which will have more effect to curb black money. for e.g. SIMPLY GIVE TAX REBATE ON SPENDING OF HOUSEHOLD,ETC. or a limit like 50-100k THROUGH CREDIT CARD / DEBIT CARD. This will help govt. to earn indirect taxes, & direct tax as well from shop keepers. Bank will earn too.
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abhijit thokadiwala
abhijit thokadiwala 10 years 11 months ago
Dear Sir, It is the most profitable business 4 all stakeholders, IF CREDIT CARD SPENDINGS R ALLOWED AS WITHDRAWLS OR DEDUCTION IN INCOME TAX FOR INDIVIDUAL 1) GOVT. WILL EARN VAT,SERVICE TAX,ETC.2)SHOPS WILL BE FORCED 2 PAY TAX & SHOW INCOME AS CONSUMER WILL FORCE 2 PROVIDE BILL 3)BANKS WILL EARN TRANSACTION FEES4)EXPENSE OF PRINTING NOTES WILL SAVED & TREES AS WELL 5)RUPAY CARD WILL GET MORE POPULARITY 6)INCOME TAX PAYERS WILL INCREASE. BIGGEST STAKEHOLDER WILL BE GOVT.& CITIZEN WHORPAYING TAX
suggestionin2008.pdf
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Akash Patel_4
Akash Patel_4 10 years 11 months ago
There must be some tax benefits who enter transaction through banking channel/debit Card/Credit Card. So, that our citizen motivated to enter cashless transactions. More than Rs. 5000 transaction must be done with out cash, means cash transaction limit must be lower otherwise it will not be beneficial. Other option is banking transaction tax by abolished all other 54 types Taxes & compulsory all transactions through bank.
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Somasundaram Swaminathan
Somasundaram Swaminathan 10 years 11 months ago
As much as moving from Cash to Cashless economy is appreciated and at the same time provide adequate infrastructure to meet the requirement. However, in rural areas we need more development in infrastructure.
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Jaideep Singh shaktawat
Jaideep Singh shaktawat 10 years 11 months ago
As much as moving from cash to cashless economy is appreciated, following points need to be addressed. 1. Services like hospitals :cash must be allowed (As people may borrow from multiple to pay immediately). 2. Extra steps needed to be taken to incentive rural economy to move towards plastic money.
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Kantharao tirunagari
Kantharao tirunagari 10 years 11 months ago
any where in the country must use plastic money only, like other country's., to stop corruption in all government departments payments, political expenditure payments,
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