sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Indirect Tax »
 CBDT notifies new I-T return forms
 Here are the key changes in tax rules to come into effect from today
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
 All education loans do not get income tax benefits
 FM Arun Jaitley to focus on direct and indirect taxes
 Income Tax For Individuals – Assessment Year 2019–20
 States set separate dates to implement e-way bill
 What are direct and indirect taxes?
 Indirect transfer conundrum continues
 We expect significant changes in income tax slabs, say taxpayers

Government proposes income tax benefit for those making card payments
June, 23rd 2015

Aiming to boost digital payments, the government on Monday proposed tax benefits to merchants for accepting electronic payments and income tax rebates to consumers for paying a certain proportion of their expenditure through electronic means.

“An appropriate tax rebate can be extended to a merchant if at least say 50 per cent value of the transactions is through electronic means. Alternatively, 1-2 per cent reduction in value added tax could be considered on all electronic transactions by the merchants,” the finance ministry said in the ‘Draft Proposals For Facilitating Electronic Transactions’.

The ministry also proposed mandating settling of high value transactions of more than Rs 1 lakh, only by electronic means.

In other measures to promote wider adoption of e-transactions, the ministry proposed reduction in the Merchant Discount Rate (MDR) and the rationalisation of the distribution of the MDR across different stakeholders. At present, there is an MDR of 0.75 per cent on debit card transactions up to Rs 2,000 and 1 per cent on all transactions above Rs 2,000.

To enable policy for e-transactions in government collections, the draft proposals said the feasibility of removing the prevailing convenience fee/service charge/surcharge levied by government departments and PSUs for making e-transactions to essential commodities, utility services, petrol pumps and railway ticket counter/IRCTC.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions