Ashish Dey
2 years ago
How to Strong Indian Economy and Remove Black Market

Economy can be strong

1) Introduce Digital Payment system->Impose on all established Traders (small or large) to accept Card Money or Wallet 
2) Remove Income Tax and introduce TBT.
3) When to Tax-> Introduce Tax on Banking Transaction (TBT) level ( on RTGS, NEFT/Foreign Remittance/Card Swip/E-wallet)
4) GST on all Goods & Service at First point of sales from Manufacturer or service providers

How benefits :
1) Money rotations will stop/jack. Or More rotate more tax ! No loss for country no loss for business as well
2) Remove Definition of Black money! All money accounted.
3) Taxpayer is Citizen but Tax Depositor collector is Bank or Agent! No fare of Harassment by income tax department. Jiska jitna capacity, make transactions and pay fearless . 
4) 0 evasion of tax
5) End to end point traceable
6) Removal of complexity in tax regime
7) Simplicity and shut down corrupted offices and administration.
8) Cash printing cost will cut significantly

This way we can give 
-Relax to Save small taxpayers, small traders and encourage more to forward towards adoption Digital India. 
- Reducing Tax compliance formality from 125 crores citizen to 10 lakhs Institutions or Business house
-Bribery system will vanish from India

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