Live
- Mushk Mahal turns den of anti-social elements
- Industrial progress began during BRS’ rule: KTR
- Bhatti credits Cong govts for giving big boost to MSMEs
- Act smart! Don’t bank only on agri, CM prods farmers
- TG govt sets aside Rs. 4k-cr for MSMEs
- Telangana DISCOMS submits ARR to TSERC. Proposes to generate more revenue through tariff hike
- Three Dead In Delhi Building Collapse Amid Heavy Rain
- District SP T. Srinivas Rao, IPS, Expresses Condolences on the Death of Woman Constable in Road Accident
- District Additional Collector Narsinga Rao Stresses Effective Implementation of Nasha Mukt Bharat Abhiyaan
- State Government Distributes Mahalakshmi Scheme Gas Cylinder Certificates under Abhaya Hastham
Lok Sabha passes Bill to tax money deposited post demonetisation
Amid a din, a bill which seeks to tax money deposited in banks post demonetisation was passed in the Lok Sabha yesterday within minutes without any debate.
New Delhi: Amid a din, a bill which seeks to tax money deposited in banks post demonetisation was passed in the Lok Sabha yesterday within minutes without any debate.
Amid fierce slogan shouting by the opposition, Finance Minister Arun Jaitley said the Taxation Laws (2nd Amendment) Bill, 2016 was brought after it came to the government's notice that some people were trying to illegally exchange the demonetised Rs 1000 and Rs 500 currency notes.
He said as per the amendment proposed, those caught illegally converting money will have to cough up 60 per cent tax plus penalties, which will come to 85 per cent.
When opposition members questioned bringing the bill for consideration and passage yesterday at a short notice, Jaitley and Information and Broadcasting Minister M Venkaiah Naidu said they were casting aspersions at the Chair.
Members rushed to the Well and kept shouting slogans till the bill was passed. Opposition parties accused the government of being “undemocratic and dictatorial” and hinted at approaching the President on the issue.
