The central government came out with a raft of proposals to encourage electronic transactions, including income tax benefits for payments made through debit or credit cards, a move aimed at cracking down on black money. Transaction charges on card payments at petrol pumps, gas agencies and railway tickets could be done away with. The government may also make it mandatory for all transactions above Rs1 lakh to only be conducted electronically.The government also proposed appropriate changes in the regulatory structure, if required, to promote mobile-based payment systems.
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Govt Proposes Tax Benefits For Credit And Debit Card Payments
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