https://www.taxtmi.com/article/detailed?id=7197 The document critiques the proposed Ardhakranti digital taxation system that would centralise transactions through banks and replace multiple taxes with a uniform Banking Transaction Tax. It highlights operational requirements-universal bank accounts, identity linkage, demonetisation of high denomination notes, cyber security, deposit insurance, and uninterrupted server availability-and warns of systemic risks from inadequate infrastructure and governance. As alternatives, it urges phased implementation, targeted tax relief to prioritize enforcement against high value evaders, simplified returns, independent investigative bodies, fast track recovery mechanisms, and staged banking expansion before full adoption. en-us Tue, 10 Jan 2017 07:21:12 +0530 Tue, 10 Jan 2017 07:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7197 The document critiques the proposed Ardhakranti digital taxation system that would centralise transactions through banks and replace multiple taxes with a uniform Banking Transaction Tax. It highlights operational requirements-universal bank accounts, identity linkage, demonetisation of high denomination notes, cyber security, deposit insurance, and uninterrupted server availability-and warns of systemic risks from inadequate infrastructure and governance. As alternatives, it urges phased implementation, targeted tax relief to prioritize enforcement against high value evaders, simplified returns, independent investigative bodies, fast track recovery mechanisms, and staged banking expansion before full adoption. Articles Other Topics Tue, 10 Jan 2017 07:21:12 +0530 https://www.taxtmi.com/article/detailed?id=7197