Committee on digital payments suggests incentives for micro ATMs, tax refunds
The chief ministers’ committee on digital payments headed by Andhra Pradesh chief minister Chadrababu Naidu on Tuesday submitted its interim report to Prime Minister Narendra Modi.india Updated: Jan 24, 2017 21:55 IST
The chief ministers’ committee on digital payments headed by Andhra Pradesh chief minister Chadrababu Naidu on Tuesday submitted its interim report to Prime Minister Narendra Modi and recommended a slew of measures to make such payments more attractive than cash.
Among the measures recommended were, relief in prospective taxes for encouraging merchants to accept digital payment, tax incentives for micro ATMs and tax refunds for consumers using digital payment up to certain proportion of their annual income.
It also called for regulatory changes that promote the adoption of digital payments.
The committee was formed in November, 2016 after the government announced the demonetisation of Rs 1,000 and Rs 500 notes.
The committee’s objective included encouragement of digital payment systems to promote transparency, financial inclusion and also preparing a roadmap in this regard.