Tax law to facilitate conversion of black money to white: Arvind Kejriwal

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The proposed changes in the tax law was a “fraud” on the honest, aimed at “facilitating” the conversion of black money into white, Delhi chief minister Arvind Kejriwal today said, taking on the Prime Minister and Union Finance Minister.

Arvind Kejriwal

Mr Kejriwal entered into a duel with Finance Minister Arun Jaitley on Twitter over the issue. Mr Jaitley accused the AAP chief of making “factually incorrect” statements, but Kejriwal stuck to his guns claiming the Centre was “cheating” people.

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“Why should a former IRS officer, @ArvindKejriwal factually misrepresent changes in the Taxation Law?” Mr Jaitley tweeted.

Mr Kejriwal responded saying, “Sir, the penalty on black money was 200 per cent earlier. Now you have introduced PMGKY where the penalty is only 10 per cent. You and I are saying the same thing. Why did you cheat like this? “You made honest people queue up and brought a scheme for the thieves. Why?”

Later, Mr Kejriwal posted a video on Facebook, terming the newly introduced Pradhan Mantri GKY as a “50-50” scheme even as he repeated his allegation that demonetisation was a “big fraud”.

“If someone has Rs. 50 crore of black money, he has to declare half the amount, rest of his amount will become white money. Centre has introduced this scheme for unscrupulous people who can now turn their black money into white as demonetisation has failed to curb corruption and black money,” Mr Kejriwal said.

“Is this the way to curb corruption? If any terrorist has Rs. 100 crore and he gives Rs. 50 crore to the government, the rest will become white money. Is this the way to curb terrorism. I wonder why the Prime Minister Minister did this. Although all honest people are queueing up, PM has introduced this scheme for unscrupulous persons,” he said.

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