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| 50:50 formula facilitating conversion of black money into white scandalous: Harsh | | |  Early Times Report
Jammu, Dec 1: Dubbing the amendment in the Taxation laws passed in the Lok Sabha recently as an incentive for the black money hoarders, a strong battalion of Panther activists spearheaded by Harsh Dev Singh and Yashpal Kundal along with other leaders staged a massive protest demonstration against the move today.
The agitated protestors amid raising anti-BJP slogans torched the effigy of the NDA government.
Harsh Dev Singh while addressing the media revealed that the newly proposed law provides those with unaccounted cash or deposits of demonetized Rs. 500/- and Rs. 1000/- notes to pay 50% tax and come clean, while a 25% of the amount declared would be locked in for four years in interest free deposits and leaving such declarant with the rest 25% of funds for immediate use.
He divulged that the new legislation instead of plugging the loopholes in the existing laws would give a lifetime opportunity to the tax evaders to legalize their black money thus enabling them to convert 50% of their black money into white. He further maintained that apprehensions were brewing in the minds of the public that the new "50:50" formula had been evolved to help the hoarders of black money who financed various political parties during the elections.
He charged different political parties with BJP being in the lead of conniving in the process of conversion of black money into white through the said black law.
Describing the new provision as an obnoxious piece of superimposed legislation, Singh said that it was necessary that the Lok Sabha should have been in perfect order when such a key bill was discussed and it should not have been done until the discussion on demonetization took place.
He added that Union Finance Minister Arun Jaitley surreptitiously introduced the bill when the entire opposition was demanding initiation of debate on the demonetization issue.
Yashpal Kundal said that the BJP was misleading under the pretext of the new amendment in the taxation laws that the 'locked in' money would be utilized for developmental activities but actually it had provided a fresh breather to the black money hoarders and a fresh lease of life to the scrapped currency. He regretted that the provisions of higher taxation and stringent penalty in search and seizure cases in the new law were only an eye wash to hoodwink the people and nothing else .
Prominent among those who spoke on the occasion included Rajesh Padgotra, Naresh Chib, Kewal Krishan Sharma, Rajesh Gondhi, Udheyveer Singh, Jagdish Kumar, Rakesh Verma, Shail Singh, Shankar Singh Sanju, Arun Sharma besides others. |
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