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LS passes Bill to amend Income Tax Act without debate

Govt proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation

IANS  |  New Delhi 

The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws to facilitate levy of 60% tax on undisclosed income or investment or cash credit deposited in banks after the November 8 demonetisation. The bill was passed even as the opposition members protested and raised slogans against the government. Union Finance Minister Arun Jaitley, while moving the bill for consideration and passing, called it one of the steps by the Centre to curb black money. "This is an attempt to get the (black) money into the mainstream," he ...

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LS passes Bill to amend Income Tax Act without debate

Govt proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation

Govt proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws to facilitate levy of 60% tax on undisclosed income or investment or cash credit deposited in banks after the November 8 demonetisation. The bill was passed even as the opposition members protested and raised slogans against the government. Union Finance Minister Arun Jaitley, while moving the bill for consideration and passing, called it one of the steps by the Centre to curb black money. "This is an attempt to get the (black) money into the mainstream," he ... image
Business Standard
177 22

LS passes Bill to amend Income Tax Act without debate

Govt proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation

The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws to facilitate levy of 60% tax on undisclosed income or investment or cash credit deposited in banks after the November 8 demonetisation. The bill was passed even as the opposition members protested and raised slogans against the government. Union Finance Minister Arun Jaitley, while moving the bill for consideration and passing, called it one of the steps by the Centre to curb black money. "This is an attempt to get the (black) money into the mainstream," he ...

image
Business Standard
177 22