No More Income Tax?

As part of making reforms in tax system, the BJP's government is initiating demonetization. What would be the next step of the government? A Pune based economist think-tank Arthakranthi has come up with some interesting changes in the tax system.

Arthakranthi seeks the central government should abolish tax system. Instead, he wants the 'Banking Transaction Tax (BTT) would come into force so as to strengthen the tax system.

Arthakranthi feels the union government gets Rs.40 lakhs crores through direct and indirect taxing through banks. Well, as the idea of demonetization got misfired miserably, how could the Modi's government take another bold step at this moment? Even if the government goes ahead, it may face civil wars.