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

PM Modi asks BJP MPs, MLAs to give details of their bank accounts by January 1

ANI  |  New Delhi [India] 

Prime Minister Narendra Modi on Tuesday asked all Bharatiya Janata Party (BJP) MPs and MLAs to give details of their bank accounts to party president Amit Shah from November 8 to December 31.

Sources said that he also instructed all lawmakers and legislators to submit their financial details by January 1, 2017.

Prime Minister Modi earlier in the day attended a BJP parliamentary party meeting to discuss the Centre's demonetisation move and strategies to counter the opposition.

Opposition parties have accused the Prime Minister of plunging the country into financial anarchy post the demonetisation drive.

However, the ninth day of the Winter Session of Parliament saw the Centre introducing the Income Tax Laws (Second Amendment) Bill.

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

The Amendment Bill, introduced by Finance Minister Arun Jaitley, proposes 30 percent tax on undisclosed income plus 10 per cent penalty beside a 33 percent surcharge.

The Bill also proposes a 75 percent tax and 10 percent penalty in case the Income Tax authorities detect undisclosed wealth deposited post demonetisation.

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 29 2016. 13:02 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU