22 Jun, 2015 6:52p.m.

Govt proposes IT benefits on debit/ credit card payments

The government has proposed income tax benefits for individuals making payment through debit or credit cards. The Government is keen to to follow the Korean model where the government promoted electronic payments by providing tax breaks in the form of lower GST for shoppers and lower income tax for merchants on card transactions.

The government has also proposed removal of transaction charges on card payments at petrol pumps, gas agencies and for railway tickets. These are part of a draft proposal that the government has floated. The government plans to launch a new action plan to popularize cashless transactions.

The government has invited comments on these draft proposals. The public has been invited to comment on the proposals by 29 June, 2015.



Latest in Important News
Latest in Other News Sections
Budget 2019 expectations : IT exemption limit likely to be hiked to Rs 5 lakh 🕑 17 Jan,19 9:29p.m.
Researchers develop plants that can remove cancer-causing pollutants 🕑 27 Dec,18 12:59p.m.
6 months of aerobic exercise reverses brain ageing by 9 years 🕑 24 Dec,18 2:31p.m.
All you need to know about NPS changed withdrawal norms 🕑 24 Dec,18 11:47a.m.
Scientists succeed in destroying HIV-infected cells 🕑 22 Dec,18 10:22p.m.
Johnson and Johnson talcum powder samples seized across country for testing 🕑 19 Dec,18 1:26p.m.
Govt. for levy on petrol and diesel cars to push to push e-vehicles 🕑 19 Dec,18 1:20p.m.
Tax changes in 2018 that will affect you 🕑 19 Dec,18 1:09p.m.
Google maps now shows auto-rickshaw routes with estimated fares 🕑 19 Dec,18 11:53a.m.
WhatsApp picture-in-picture mode now available for all Android users 🕑 19 Dec,18 11:07a.m.