Modi Government Is Considering Taxing Your Cash Withdrawals: Report

[Dragon4]

Its high time government should stop experimenting.

 

[Spring Onion]

the transaction fee for using atm in India is not a tax, its a fee for using the service of bank. The money goes to bank not govt.
This one will go straight to govt, so its different.

our government already had imposed it if am not confused. any Pakistani member can clear or explain

 

[Anaita_S]

Why not? The admission season is coming fast. Along with capitation fee or donation. I wonder how donation will be paid this time?

Even suppose I have 1 crore in Bank. I have to pay 30 lakh in cash for my child to study medicine. Can I with draw 25 lakh from Bank? My white becomes black for the college. How will the college utilise it even if I manage to pay?

@ranjeet @hinduguy @Kashmiri Pandit

Good point! All this should stop...But at the same time shouldn't we consider the parts of India where the technology is not so advanced and digital payments are difficult/impossible?

 

[CBU-105]

OUT OF 120 Cr population only 1.23 Cr paid tax last year. how long this should be continued ?

I pay my taxes, I just don't like the idea of government diktats forcing people to do anything.

Yeah, mind your tongue. Don't you dare say anything against Islam. How is it even related, you Islamophobe.

I don't like (to put it very mildly), any sort of totalitarian system that forces people to live in a certain way, communism certainly falls into that category, as does islam, when sharia is implemented like they do in saudia and ISIS controlled areas etc.

 

[gowda]

I support government that doesn't mean I'm going to support everything,how to use cash by cheque or digital or withdrawl it's my personal .government is nobody to say how use my money

 

[Abba_Dabba_Jabba]

I pay my taxes, I just don't like the idea of government diktats forcing people to do anything.

Why u even bother paying taxes ? Don't pay.

I don't understand the ultra-liberalist view you share here. The govt is trying to increase the tax base and will subsequently reduce the tax rates of other sources, which will equally distribute the tax concentration.

India has elected a government which has all the right to take steps in public interest, may be it fails but at least they are trying. If they fail, don't vote for them, as simple.

 

[atya]

I pay my taxes, I just don't like the idea of government diktats forcing people to do anything.


I don't like (to put it very mildly), any sort of totalitarian system that forces people to live in a certain way, communism certainly falls into that category, as does islam, when sharia is implemented like they do in saudia and ISIS controlled areas etc.

Isis has nothing to do with Islam. Best you don't get religion involved in your discussions. I'm sure that I can come up with some points regarding Hinduism too. Not very difficult. But my religion teaches me to be tolerant of other faiths. Btw, you have been reported.

 

[Anaita_S]

Why u even bother paying taxes ? Don't pay.

I don't understand the ultra-liberalist view you share here. The govt is trying to increase the tax base and will subsequently reduce the tax rates of other sources, which will equally distribute the tax concentration.

India has elected a government which has all the right to take steps in public interest, may be it fails but at least they are trying. If they fail, don't vote for them, as simple.

Truly they are trying and we should support them, But the trail is creating a lot of problems for the poorer people, should that be taken care of. We can definitely not vote for them if we are not happy, but that means waiting till the elections for 'x' numbers of years. Till then should the public be quiet?

 

[CBU-105]

I don't understand the ultra-liberalist view you share here.

Nothing 'ultra-liberalist' here, I just don't like the idea of a nanny state dictating how I use my money.

 

[jha]

So much over a HP article... haah...

 

[livingdead]

Nothing 'ultra-liberalist' here, I just don't like the idea of a nanny state dictating how I use my money.

govt uses such carrot and stick to change behavior of people... do you like tax breaks for buying life insurance, mutual fund or house? they want to reduce big financial transactions from cash to digital which has got benefits...
Currently you pay extra for paying by card, and govt wants to make card transaction cheaper than cash.(by making cash transaction expensive when its big).

 

[Tshering22]

Don't think this would be a good decision.

Promoting digitalisation is one thing, but this would not be considered.

In fact, recentlyn Karang island in Manipur took it a little too seriously. They're India's first 100% cashless island.

 

[CBU-105]

govt uses such carrot and stick to change behavior of people... do you like tax breaks for buying life insurance, mutual fund or house? they want to reduce big financial transactions from cash to digital which has got benefits...
Currently you pay extra for paying by card, and govt wants to make card transaction cheaper than cash.(by making cash transaction expensive when its big).

how do you define 'big' ?

 

[livingdead]

how do you define 'big' ?

the reason we dont want to tax every transaction is we dont want poor to be hit by the tax... 5 lakh and above will be a good number in my view in Indian context.

 

[CBU-105]

the reason we dont want to tax every transaction is we dont want poor to be hit by the tax... 5 lakh and above will be a good number in my view in Indian context.

lol, I was thinking around 50 might be somewhat acceptable.

or, being reasonable, at least 20 ? let people deal in cash if they choose to, ideally though, they have no business screwing the people who already pay taxes, with yet more taxes, not cool.

Modi is playing a dangerous game of class warfare here and trying to be all populist but in an extremely commie way, I don't like it.

anyway, didn't lose a penny myself, just hate the inconvenience of it but given that it has subsided considerably, I'll go along with it, not a deal breaker, and I realize that is was well intentioned but they need to roll these "reforms" out in a better way, no more ambush jihad, please.