ease of doing business
The govt requires Tax , this could be collected by way of transaction tax. All currency notes above Rs.20/- to go out, all transactions only by way of plastic cards , internet banking , or any other form of digital system only, hundreds are available today. For every transaction , a tax will be debited automatically by the system at the time of the transaction itself ( like TDS).The govt gets its revenue. The govt does not spend on monitoring business and tax collection expenses , AND out goes all discretion of the person on the spot,complicated rules/laws , no intrusion , no chance of corruption, millions of court cases will not appear, only benefits for every one. The recording and submission of accounts/income for individuals/groups/firms and organisations to be submitted to the Govt , for the purpose of ensuring there are no illegalities with reference to the laws of the land. Everything records/financial statement remains as it is, except there is no hard cash to corrupt.This goes well with the slogan from PM, LESS GOVERNMENT .
ALL administrative and accounting persons need not worry about loosing jobs. OR still better, the persons employed in the collection and accounting could be free to come to business , more entrepreneurs and the country will be number one in the world. Presently , the entrepreneur is doing less business and more of complying with the wonderful laws created by persons never affected by the laws. more
ALL administrative and accounting persons need not worry about loosing jobs. OR still better, the persons employed in the collection and accounting could be free to come to business , more entrepreneurs and the country will be number one in the world. Presently , the entrepreneur is doing less business and more of complying with the wonderful laws created by persons never affected by the laws. more
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Cashless payments are good for the plastic payments portals, but many still appreciate cash as an honest means of transaction. Therefore, it is unfair to pressure such persons into submission for cashless payment. Cashless transactions can also be corrupted and I have been the victim of it, but I managed to force the merchant into reversing charges to my card and the card issuer took another 60 days to credit my account, after the merchant reversed charges. The total time spent on fixing a bad charge to plastic payment was over 90 days and each day I was hassled by the merchant to accept a bribe to cancel that reversal. With cash, the corrupted business practice would have been avoided completely. If the merchant failed to refund me my money, the justice system would make him do it. more
Oct 14
I was made to pay ahead of delivery of purchased products and, the delivery was never done, because the products were not in stock, and the merchant failed to inform me of this fact while promising me a delivery date/time. more
Oct 14
All Businessmen , Traders and their Agents basically have to honour the Cashless Transaction keeping Card Swiping Machines which befit all . Only Banias / Vaisyas / Komatis shall not be Selected . more
Oct 14
ease of doing business is "BAKWAS". No biz happens easily/lawfully. My bid is rejected for a small reason, where as preferred contractor since 13 years bid accepted even when they have submitted all garbage. Running pillar to post for justice. But even that is also denied. Only corrupt practices work, year after years. No stand up India, no ease of doing biz happening. Is it wrong to expect justice? more
Oct 14
Good. Not to claim any ownership, this TRANSACTION TAX has been elaborately covered by me in a long article published by me in the then indiainfolinedotcom web site in mid 2000s just before a budget. I have referred about my already in another local circles article, and hence no more on that here again. As a non finance person, I was not even aware of this word Transaction tax, about which, after reading my draft then, my auditor explained the relationship between the term and what I was trying to build up in my article. I owe a lot to Mr. Sajjan Paul for rekindling my old memories at 64. Thank you more
Oct 13
