Transaction Tax – an idea whose time has come?

Information is filtering through in bits and pieces in the media (mainly social media) about this new idea that BJP seems to be toying with. Primarily, people have got excited about the fact that one of its key precepts is to do away with income tax. Rumours that this would be included in the BJP manifesto and coupled with the general expectation that the NDA could be coming to power, has only added more fuel to the fire. There have been few statements made in the national media by Nitin Gadkari, Rajnath Singh and Subramanium Swamy...

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