As digital payments take off, Ramki Gaddipati, CTO & Co-founder of Zeta says this year's budget should focus on financial inclusion and hopes the Government of India reduces indirect taxes and charges levied on digital transactions.
What also comes as an expectation from Union Budget 2017 is a provision of income tax incentives to people who use digital payment options. Treatment of digital payment and documents to be legally at par with physical instruments and increase in the ceilings on employee tax benefits as they're now quite overdue are among other expectations. "To aid merchants, the Merchant Discount Rate on card payments should be abolished.", says Ramki.
"The industry can also benefit from tax incentives provided to organisations operating in the digital payments space.", he adds.
Comments
0 comment