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अधिकार जैसे कि आम जन द्वारा भ्रष्ट को बदलने/सज़ा देने के अधिकार पर चर्चा करने के लिए मंच
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PostPosted: Tue May 24, 2011 2:19 pm 
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Joined: Fri May 13, 2011 11:04 am
Posts: 34
1. Withdrawal of existing Taxation System completely (except customs i.e. import duties).



2. Every Transaction routed through a bank will attract certain deduction in appropriate percentage as Transaction Tax i.e. Single point tax deducted at source. (say 2 %).



1. This deduction is to be effected on receiving/credit accounts only.

2. This deducted amount will be credited to different Government levels like Central, State and Local (say 0.7%, 0.6%, 0.35% respectively).

3. Transacting Bank will also have its share in this amount as the bank has a key role to perform (say 0.35%).



3. Withdrawal of High denomination currency (say above Rs. 50).



4. Cash transactions will not attract any transaction tax.



5. Government should make legal provisions to restrict cash transactions up to a certain limit (say Rs. 2000).


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PostPosted: Tue May 24, 2011 6:49 pm 
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Joined: Sun Sep 12, 2010 2:49 pm
Posts: 596
Anil,

Please give the full draft for these proposals.
These proposals are not clear.

1)For example, if a F.D of Rs.2 lakhs matures and a interest of 10 % equal ot Rs.20,000 is given, then what will be the base/principal for the transaction tax-
a) Rs. 2 lakhs
b) Rs. 20,000/- or
c) Rs. 2lakhs 20,000/- ?

2)If someone gave a loan of one crore rupees for 15 days at interest of 2% and got back one crore one lakh rupees , what will be the base for the transaction tax=
a) Rs. One crore
b) Rs. One lakh or
c) Rs. One crore one lakh ?

3) Will salary paid be taken as transaction?
-----
Another problem with this tax is that such tax will create a chain of "transactions without bills"
For example, if my transaction is of Rs. 100/- , I will show transaction of only Rs. 50/- and do the rest of transaction via cash- by notes of Rs. 50 uptil Rs.50 lakhs, by dollars uptil Rs.2-3 crores, by gold uptil Rs. 20 crores and by foreign transactions for larger transactions.


Thus, it is clear that this taxation system will not reduce corruption even by 1%


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