Submit bank transaction details from Nov 8 to Amit Shah: Modi to BJP lawmakers

In an attempt to curb the Opposition's attack following demonetisation move, Prime Mninister Narendra Modi on Tuesday asked all Bharatiya Janata Party MPs, MLAs to submit details of their bank account transactions between November 8 and December 31 to party President Amit Shah.

The remarks came as united Opposition is trying to corner the government in Parliament over demonetisation.

There have been allegations that BJP leaders purchased lands before Modi announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

While addressing the BJP Parliamentary party meet, Modi said the Income Tax Amendment Bill is not to turn black money into white but to use the money looted from poor for their welfare.

The government on Monday proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught.

Quoting Modi, Parliamentary Affairs Minister Ananth Kumar told reporters that the bill is part of his government's fight against blackmoney.

A part of the tax collected on the money deposited under this scheme will be spent on electricity, roads, toilets and education among other welfare measures, he said.

Modi also sought everybody's support in his effort to usher in digital/mobile economy and push the society towards cashless transactions.

At the meeting, Shah told party MPs to motivate traders in panchayats, municipalities and other local bodies falling in their constituency to shift to cashless transactions.

Asked about impasse in Parliament over demonetisation, Kumar said the government has been ready for discussion from the day one of the Winter session and Modi will also intervene in both the House if the Opposition wanted.

The Opposition wants discussion under Rule 56 which entails voting, a condition unacceptable to the government.