Government should withdraw existing taxation system completely. All Taxes and Duties of Central, State and Local body Government except customs or import duties which functions as International Trade Balancer. Government should withdraw high denomination currency i.e. more than Rs 100. Cash transaction up to 2000 should not attract any transaction tax. Government should make legal provision to restrict cash transaction up to 2000. Every transaction routed thru a bank should attract certain deduction in appropriate percentage as transaction tax. This deduction is to be effected on receiving / credit accounts only. This deducted amount should be credited to different Government levels like Central, State and Local respectively. Transacting Bank should also have its share in this amount as the bank has a key role to perform.
Posted on: Tue, 21 Oct 2014 15:39:33 +0000
Trending Topics
Recently Viewed Topics
© 2015