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Shadow economy had become normal, says Jaitley - The News
Posted
November 21, 2016
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118
November 21, 2016
118
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1:38Now PlayingFinance Minister Arun Jaitley cautioned warned unscrupulous elements who are manipulating government given exemptions on demonetisation for personal gains on Friday (Nov 18) at the Economic Conclave.
Finance Minister Jaitley cited reports that some people are using accounts belonging to artisans, workers and housewives to convert their black money into new denomination notes. Earlier, it was declared that these accounts would not be questioned by IT department. Now after several reports of misuse, Jaitley has stated that such tax evasion activities will be subject to income tax & penalty, the person whose account is misused will also be prosecuted.
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