You are here: Home » News-ANI » National
Business Standard

Maya questions need for demonetisation if Centre wanted to convert black money into white

ANI  |  New Delhi [India] 

After the Centre introduced a Bill in the that gives defaulters an opportunity to come clean by paying and penalties, (BSP) supremo on Tuesday said if the had another voluntary disclosure scheme, then they should not have pulled old 500 and 1,000 rupee notes out of circulation.

told the media, "In a new Bill proposed by the Centre in the that gives defaulters an opportunity to come clean by paying and penalties, in this regard, the only thing that my party would like to say is that if they had plans like these, then why did they decided to demonetize 500 and 1,000 rupee currency?"

"Why is 90 percent of the population of this country standing in queues outside ATMs? If they had plans of imposing on black money, which could further make their money white, then there was no need for the Centre to impose such a scheme like demonetisation," she added.

Day nine of the Winter Session of saw the Centre introducing the Laws (Second Amendment) Bill on Monday.

The Bill provides for 'Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016' (PMGKY).

The key feature of the proposed amendment to the Income-Act is a proposal to impose 50 per cent on undeclared that is voluntarily disclosed till December 30, following which 82.5 per cent (75 per cent and 10 per cent of such as penalty) could be levied on undeclared detected by authorities. The changes are intended to supplement the move targeted at curbing black money, the Finance Ministry said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Maya questions need for demonetisation if Centre wanted to convert black money into white

After the Centre introduced a Bill in the Lok Sabha that gives tax defaulters an opportunity to come clean by paying tax and penalties, Bahujan Samaj Party (BSP) supremo Mayawati on Tuesday said if the government had another voluntary income disclosure scheme, then they should not have pulled old 500 and 1,000 rupee notes out of circulation.Mayawati told the media, "In a new Bill proposed by the Centre in the Lok Sabha that gives tax defaulters an opportunity to come clean by paying tax and penalties, in this regard, the only thing that my party would like to say is that if they had plans like these, then why did they decided to demonetize 500 and 1,000 rupee currency?""Why is 90 percent of the population of this country standing in queues outside ATMs? If they had plans of imposing tax on black money, which could further make their money white, then there was no need for the Centre to impose such a scheme like demonetisation," she added.Day nine of the Winter Session of Parliament ...

After the Centre introduced a Bill in the that gives defaulters an opportunity to come clean by paying and penalties, (BSP) supremo on Tuesday said if the had another voluntary disclosure scheme, then they should not have pulled old 500 and 1,000 rupee notes out of circulation.

told the media, "In a new Bill proposed by the Centre in the that gives defaulters an opportunity to come clean by paying and penalties, in this regard, the only thing that my party would like to say is that if they had plans like these, then why did they decided to demonetize 500 and 1,000 rupee currency?"

"Why is 90 percent of the population of this country standing in queues outside ATMs? If they had plans of imposing on black money, which could further make their money white, then there was no need for the Centre to impose such a scheme like demonetisation," she added.

Day nine of the Winter Session of saw the Centre introducing the Laws (Second Amendment) Bill on Monday.

The Bill provides for 'Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016' (PMGKY).

The key feature of the proposed amendment to the Income-Act is a proposal to impose 50 per cent on undeclared that is voluntarily disclosed till December 30, following which 82.5 per cent (75 per cent and 10 per cent of such as penalty) could be levied on undeclared detected by authorities. The changes are intended to supplement the move targeted at curbing black money, the Finance Ministry said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Maya questions need for demonetisation if Centre wanted to convert black money into white

After the Centre introduced a Bill in the that gives defaulters an opportunity to come clean by paying and penalties, (BSP) supremo on Tuesday said if the had another voluntary disclosure scheme, then they should not have pulled old 500 and 1,000 rupee notes out of circulation.

told the media, "In a new Bill proposed by the Centre in the that gives defaulters an opportunity to come clean by paying and penalties, in this regard, the only thing that my party would like to say is that if they had plans like these, then why did they decided to demonetize 500 and 1,000 rupee currency?"

"Why is 90 percent of the population of this country standing in queues outside ATMs? If they had plans of imposing on black money, which could further make their money white, then there was no need for the Centre to impose such a scheme like demonetisation," she added.

Day nine of the Winter Session of saw the Centre introducing the Laws (Second Amendment) Bill on Monday.

The Bill provides for 'Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016' (PMGKY).

The key feature of the proposed amendment to the Income-Act is a proposal to impose 50 per cent on undeclared that is voluntarily disclosed till December 30, following which 82.5 per cent (75 per cent and 10 per cent of such as penalty) could be levied on undeclared detected by authorities. The changes are intended to supplement the move targeted at curbing black money, the Finance Ministry said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard