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Tax law to facilitate conversion of black money into white:

Press Trust of India  |  New Delhi 

The proposed changes in the was a "fraud" on the honest, aimed at "facilitating" the conversion of into white, Chief Minister Kejriwal today said, taking on the Prime Minister and Union Minister.

Kejriwal entered into a duel with Minister on Twitter over the issue. Jaitley accused the chief of making "factually incorrect" statements, but Kejriwal stuck to his guns claiming the Centre was "cheating" people.

"Why should a former IRS officer, @ArvindKejriwal factually misrepresent changes in the Taxation " Jaitley tweeted.

Kejriwal responded saying, "Sir, the penalty on black oney was 200 per cent earlier. Now you have introduced PMGKY where the penalty is only 10 per cent. You and I are saying the same thing. Why did you cheat like this?

"You made people queue up and brought a scheme for the thieves. Why?"

Later, Kejriwal posted a video on Facebook, terming the newly introduced Pradhan Mantri GKY as a "50-50" scheme even as he repeated his allegation that demonetisation was a "big fraud".

"If someone has Rs 50 crore of black money, he has to declare half the amount, rest of his amount will become white money. Centre has introduced this scheme for unscrupulous people who can now turn their into white as demonetisation has failed to curb corruption and black money," Kejriwal said.

"Is this the way to curb corruption? If any terrorist has Rs 100 crore and he gives Rs 50 crore to the government, the rest will become white money. Is this the way to curb terrorism. I

"I wonder why the Prime Minister Minister did this. Although all people are queueing up, PM has introduced this scheme for unscrupulous persons," he said.

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

First Published: Wed, November 30 2016. 20:57 IST