The price of the certain articles are being given at 99.90 or 199.90 and so on. If we purchase those articles by credit card or debit card, we never bother about them as these cards take the exact amount by not even missing out on single paise, the least value of Indian currency. But, the card transactions are not possible in each and every purchase and those are not available with everyone. Some of them prefer transaction with cash. It is for those people whom this loss occurs. It is not a huge loss considering a single person.
But, if we consider similar kinds of transactions happening in lakhs of times per day, that too does not look quite big. But, when we consider the same kind of transactions happening monthly, yearly, the amount gets huge and reaches values in crores. My doubt arises in this area. If we consider this huge amount, am not able to find an answer for this. Does this amount comes under taxable income. This income have a chance of getting accumulated as a black money, which prevents economic schemes being brought up.
There are many more stores, who doesn't have the billing system. These people again evade taxes showing less sales. This should be prevented. The people having either a huge political support and a power are engaging themselves in these kind of activities. The countries, GDP is getting reduced as these amounts are not being taken into account while calculating the GDP. This is the reason why are still economically developing country and not able to attain the status of economically developed country.
But, if we consider similar kinds of transactions happening in lakhs of times per day, that too does not look quite big. But, when we consider the same kind of transactions happening monthly, yearly, the amount gets huge and reaches values in crores. My doubt arises in this area. If we consider this huge amount, am not able to find an answer for this. Does this amount comes under taxable income. This income have a chance of getting accumulated as a black money, which prevents economic schemes being brought up.
There are many more stores, who doesn't have the billing system. These people again evade taxes showing less sales. This should be prevented. The people having either a huge political support and a power are engaging themselves in these kind of activities. The countries, GDP is getting reduced as these amounts are not being taken into account while calculating the GDP. This is the reason why are still economically developing country and not able to attain the status of economically developed country.
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