1. Every citizen should be provided with a permanant account number
2. Cash transactions should be discouraged by printing money upto the denomination of Rs.100.00 only
3. All transactions above Rs.1000/- to be made through banks with dr/cr card, funds transfer, chq/dd or online payments.
4. All taxes (IT,ST,cess,ED,service tax etc.,) should be dropped. Only transaction tax of 1% on each bank transaction let it be debit or credit to be levied and automatically transferred to treasury a/c. (I think this will be sufficient to replace all the taxes)
5. Banks should maintain one a/c and give uniform interest.
6. If all taxes are dropped, somuch of paper work and filing of returns, maintainance,inspecting and scrutinising will vanish & the people used for this purpose can be utilised to do for more productivily
7. If cash transactions are discouraged, then corruption,black money etc. will fall to nil.
8. budget only for proper expenditure and need not worry abt income.
2007-03-01 21:07:45 · 9 answers · asked by toknowmore 4 in Business & Finance ➔ Taxes ➔ India
the programme is fine and I believe throughout the process, the program can be modified and improvised according to the developments...
But the question is, what will be the force neeeded to execute the program??? the parliament? army??? an institution?? religious leaders??
2007-03-01 21:43:07 · answer #1 · answered by e077168 2 · 1⤊ 0⤋
Hi nice thoughts but very difficult to impliment.In country like India where literacy rates are so low farmers and poor village people don't have ability to do bank transactions and possibility of frauds will increase.
if you remove all taxes then the whole idea of taxing richer to give facilities to poor grows in scrap. If poor do a tasaction like loan for farming he will be taxed so not a good idea
2007-03-02 02:23:36 · answer #2 · answered by niksforhelp 2 · 1⤊ 0⤋
thumbsup for your nice analysis but,
How can you stop people making cash transactions above Rs1000/- . It should be discouraged, yes definitely, but do you think people would follow that just by passing a law. Moreover as we all know indian political structure is such that no government can take such a strong move at one go. Government taking such steps, in my opinion, would collapse withing a fortnight.
Besides as per your analysis thousands and thousands of accountants etc would become unemployed
2007-03-01 21:23:26 · answer #3 · answered by deep_3657 2 · 1⤊ 0⤋
It won't work. Wherever you have people - and in India there are a lot of them - you will find someone who thinks he (mostly, but she sometimes) can get away with something. It's not just the corruption which fires them up, but the "thrill of the chase", even when there's no chase.
"Beating the system", whatever the system, and however fair and reasonable, is a human game played for millennia.
2007-03-01 21:22:49 · answer #4 · answered by Anonymous · 2⤊ 0⤋
Do you know, or have you ever tried to know the following facts?
1. How many % of indian use DR/CR card?
2. How many % of indian have bank account?
3. How many % of shops accept dr/cr card payment?
We are lucky anough that, stupit like are not in rule.
2007-03-04 17:54:34 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Kudos to ur gr8 thinking. I sincerely appreciate but unfortunately we can never see this happen in reality.
2007-03-01 21:20:32 · answer #6 · answered by Anonymous · 1⤊ 0⤋
WONDER FUL IDEA FOR A PROPER CONSCINTIOUS CITIZEN
2007-03-05 22:42:57 · answer #7 · answered by shankar 2 · 1⤊ 0⤋
If I gave comments what will you pay me?
2007-03-01 21:37:22 · answer #8 · answered by mastmahesh 1 · 0⤊ 2⤋
You have gone completely mad!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2007-03-01 21:15:46 · answer #9 · answered by kchl_dk007 3 · 0⤊ 2⤋