March 1, 2015
https://www.facebook.com/mehtarahulc/posts/10152627728411922
Govt should make 1.5% credit card charge of upto Rs 10000 as tax REBATE for ALL taxpayers. That would reduce black money generation.
.
eg if a person earn Rs 10 lakh , then after all PF, PPF, 80CC etc is say taxpayable will Rs say 100,000 .
.
Say he spent Rs 300,000 via credit card and transaction cost charged by credit card company is Rs 4500 .
.
Then tax now he will have to pay will be Rs 100,000 - Rs 4500 = Rs 95500 .
.
So in effect he paid no CC charge.
.
So more people will use CC , and so less black money circulation
https://www.facebook.com/mehtarahulc/posts/10152627728411922
Govt should make 1.5% credit card charge of upto Rs 10000 as tax REBATE for ALL taxpayers. That would reduce black money generation.
.
eg if a person earn Rs 10 lakh , then after all PF, PPF, 80CC etc is say taxpayable will Rs say 100,000 .
.
Say he spent Rs 300,000 via credit card and transaction cost charged by credit card company is Rs 4500 .
.
Then tax now he will have to pay will be Rs 100,000 - Rs 4500 = Rs 95500 .
.
So in effect he paid no CC charge.
.
So more people will use CC , and so less black money circulation
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