1. Opposition parties likely to meet president on demonetisation, I-T amendment bill

Opposition parties likely to meet president on demonetisation, I-T amendment bill

The Opposition parties are likely to meet President Pranab Mukherjee today evening at around 7 PM over the demonetisation issue and the way income tax amendment bill, which was passed in Lok Sabha on Tuesday.

By: | New Delhi | Published: December 1, 2016 8:40 AM
The Taxation Laws (Second Amendment) Bill, 2016, was passed in the Lower House of the Parliament. (Reuters) The Taxation Laws (Second Amendment) Bill, 2016, was passed in the Lower House of the Parliament. (Reuters)

The Opposition parties are likely to meet President Pranab Mukherjee today evening at around 7 PM over the demonetisation issue and the way income tax amendment bill, which  was passed in Lok Sabha on Tuesday. It was passed by the government on the day, in the middle protest an income tax amendment bill to facilitate levy of 60 per cent tax on undisclosed income.

As per a report by the IANS, Opposition parties which are likely to meet the president include Congress, CPI, CPI(M), BSP, Trinamool Congress, Samajwadi party and others. These parties are staging protests in the Parliament over the issue of demonetisation since the beginning of the winter session on November 16.

The Taxation Laws (Second Amendment) Bill, 2016, was passed in the Lower House of the Parliament as the Opposition protested and raised slogans against the Centre. As per the Bill, the declarant is required to pay a tax of 60 percent and an extra surcharge of 25 per cent of the tax, resulting in a total tax component of 75 percent.

While moving the bill for consideration, Union Finance Minister Arun Jaitley called it one of the steps by the Centre to curb the menace of black money.

Both Houses of the Parliament are seeing regular adjournments as the Government and the Opposition spur over the issue of demonetisation. While the Opposition said that the prime minister should issue a statement, as common and innocent citizens are facing tough time after the demonetisation, standing on long queues in ATMs and banks, the Government insist that let there be a discussion on the issue and the PM would definitely speak.

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