Скачать или смотреть Replace Income tax with Bank transaction tax,क्या income टैक्स को हटा देना चाहिए?UPSC topper answers

Revolutionizing India’s Tax System: Is a Bank Transaction Tax the Answer? A bank transaction tax, or Financial Transaction Tax (FTT), could alleviate issues in India’s economy. It deters informal sector activities by incentivizing the use of formal financial channels. Tracking transactions and reducing cash usage discourages black money circulation. Additionally, an FTT generates revenue, funding social programs and infrastructure. It promotes digitalization, fosters a cashless economy, and can be structured progressively for equitable taxation. Careful implementation and infrastructure development are crucial to prevent evasion. One notable example is Sweden, which has had an FTT in place since the late 1980s. Sweden’s FTT is levied on the purchase of shares in companies. Other countries, such as France and Italy, have also introduced various forms of FTTs.
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