In e-payment push, govt hobbles through policy

The regulatory framework for digital payments is a work in progress

Could Finance Minister Arun Jaitley announce tax breaks for those with income above Rs 2.5 lakh per year provided they deposit tax digitally? After all, the government has slashed presumptive tax on small businesses from 8 per cent to 6 per cent if they migrate to digital payments.
 
Tax experts like Rahul Garg, leader of the direct tax practice at PricewaterhouseCoopers, agree there is scope for more. “The finance minister could set up a limit on how much cash transactions a retail business undertakes.” The rest would have to be done digitally.
 
Migration to a digital economy has