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PM Modi Asks BJP Lawmakers To Submit Their Financial Details To Amit Shah By 1 January

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

29/11/2016 12:39 PM IST | Updated 29/11/2016 1:08 PM IST
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Anindito Mukherjee / Reuters

NEW DELHI -- 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 8 November to 31 December.

Sources said that he also instructed all lawmakers and legislators to submit their financial details by 1 January, 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% tax on undisclosed income plus 10% penalty beside a 33% surcharge.

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

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