First things first - we need to ensure compliance through education of the citizens of India. We should give receipt for every payment we get - can we do that? Can we give 1% of each such transaction to the government honestly?
If we comply with the above - we would not need to pay any taxes! With so many transactions happening everyday - the government will have more than sufficient funds for all the development activities everyday!
I challenge all the financial experts and economists to disprove that the 1% tax on each and every financial transaction is more than sufficient for development and government taxes every year!
I am very sure everyone would be more than ready to provide 1% of the transaction value for development activities, regulatory control and better governance!
This will reduce all the black monery in the country too and make prices very affordable and reasonable!
