Lok Sabha Passes Taxation Amendment Bill

Lok Sabha has passed the second amendment to Taxation Laws Bill. Bill seeks to tax up to 85% on those caught with undisclosed income post demonetisation. The Bill is aimed to levy tax up to 85 per cent on those caught with undisclosed income after demonetization. Union Finance Minister Arun Jaitley said that the money from the PM Gareeb Jan Kalyan Yojna will be used for welfare of the poor.

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