Begin typing your search above and press return to search.
Is Bank Transaction Tax on Modi's Mind?
By: Tupaki Desk | 17 Nov 2016 9:20 PM IST
A leading National channel analyzed the Demonetization drive launched by PM Narendra Modi thoroughly. It hinted there is every possibility of Centre introducing Banking Transaction Tax.
As per the media report, Pune-based NGO 'Arthakranthi Pratishthan' prepared a 5-point plan to strengthen the country's economy. Anil Bokil, the founder of this trust, has discussed about these proposals with Narendra Modi long back. It was then Demonetization drive came up for discussion and PM implemented it now.
Other proposal discussed by Modi & Anil during one-and-a-half hour meeting is replacement of Income Tax returns with Banking Transaction Tax (BTT). Instead of direct & indirect tax, One common tax BTT would be more beneficial to the Nation. By doing so, Income earned through taxation would increase and corruption would decline. With this measure, About Rs 40 lakh crore will be earned on early basis. This is a huge amount compared to the current Tax income.
As per the media report, Pune-based NGO 'Arthakranthi Pratishthan' prepared a 5-point plan to strengthen the country's economy. Anil Bokil, the founder of this trust, has discussed about these proposals with Narendra Modi long back. It was then Demonetization drive came up for discussion and PM implemented it now.
Other proposal discussed by Modi & Anil during one-and-a-half hour meeting is replacement of Income Tax returns with Banking Transaction Tax (BTT). Instead of direct & indirect tax, One common tax BTT would be more beneficial to the Nation. By doing so, Income earned through taxation would increase and corruption would decline. With this measure, About Rs 40 lakh crore will be earned on early basis. This is a huge amount compared to the current Tax income.