Govt’s tax benefit proposals for credit card, debit card payments: Top 5 points

Narendra Modi-led government on Monday proposed income tax benefits for people making payments through credit cards, debits cards or via any other mode of online transaction. The initiative aims at building transaction history of an individual to enable improved credit access and financial inclusion, reduce tax avoidance and stop counterfeiting of currency. (Reuters)
Cutting through the jargon, here is all you need to know in 5 points:

Read full story: Govt proposes income tax benefits for credit, debit card payments
Also read: 5 things you need to know about Govt's tax benefit proposals for credit, debit card users

1) No transaction charges will be levied on purchase of petrol, gas and rail tickets with plastic money.(Reuters)

Read full story: Govt proposes income tax benefits for credit, debit card payments
Also read: 5 things you need to know about Govt's tax benefit proposals for credit, debit card users

Indian rupee slipped by another eight paise to close at 66.54 per US dollar after touching at 2-year low of 66.86 on persistent dollar demand from banks and importers amidst sustained foreign capital outflows. (Reuters)

Hawkers at times encroach upon the fundamental rights of the shopkeepers who are carrying on their business. (reuters)

5) Government departments to adopt national E-payment gateway 'PayGov India' for collection of revenue, fee, penalties etc.(Reuters)

Read full story: Govt proposes income tax benefits for credit, debit card payments
Also read: 5 things you need to know about Govt's tax benefit proposals for credit, debit card users

It pays to sort out old pending issues with the credit card company. Too many credit cards reflect credit hungry behavior.