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Indian Government to Boost Digital Transaction by Waiving Tax on Debit and Credit Card Transactions of up to Rs 2,000

The biggest hurdle is faced by the rural parts of the country, where there are limited banks and almost negligible ATMs.

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Another step towards digitizing India
Encouraging Digital Transactions by exempting service tax on Cards (Wikimedia commons)
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New Delhi, Dec 8, 2016 : In a bid to boost up digital transaction amidst cash crunch following the withdrawal of old Rs. 500 and Rs. 1000 banknotes government will waive service tax on debit and credit card transactions of up to Rs 2,000.

Sources confirm that the government has decided to “exempt services by an acquiring bank to any person in relation to the settlement of an amount up to Rs 2,000 in a single transaction through credit, debit card or other payment card service”. Finance Minister Arun Jaitley will table a notification to this effect, mentioned PTI.

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Demonetisation drive has been a major challenge for the people throughout the country since the day of its announcement. Never ending queues and death rates have gone up. The biggest hurdle is faced by the rural parts of the country, where there are limited banks and almost negligible ATMs.

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The Government is trying to promote a less-cash economic India by encouraging digital transactions. Recently, the government asked banks to install additional 10 lakh PoS terminals by March 31 in different parts of the country.

Reports from trusted sources suggest that the service tax notification of June 2012 will be amended to include the exemption on credit and debit cards. As of now, services provided by the organisations such as United Nations and other international bodies are exempt from tax.

A range of other services provided by arbitral tribunals, testing of newly developed drugs, educational institutions, trade unions, general insurance business and sports bodies, among others too are exempt from the levy.

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Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

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Google not to offer controversial face recognition technology. Wikimedia Commons

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?