Arun Jaitley says Kejriwal is 'factually incorrect', the Delhi CM hits back

Jaitley slammed Kejriwal saying he was "misrepresenting changes" made in the Taxation Laws.

Finance Minister Arun Jaitley on Wednesday lashed at out Delhi Chief Minister Arvind Kejriwal saying that he was “factually incorrect” in connection to the changes proposed in the taxation law.

Kejriwal had alleged that the central government had slashed penalty on black money from 200 per cent to 10 per cent in the Taxation Laws (Second Amendment) Bill 2016 passed in the Lok Sabha yesterday.

Arun Jaitley took to Twitter to clarify Kejriwal’s doubts saying that he was “misrepresenting changes” made in the Taxation laws and the penalties proposed on people depositing their unaccounted income are in addition to 200 percent provision for not declaring their actual income.

“The existing provision of a penalty of 200 percent for misreporting income under Section 270A has not been changed. The existing provision of charging only 30 percent tax on unexplained cash shown in the Income Tax returns has now been changed to 60 percent tax, plus 25 percent of tax as surcharge and 3 per cent of tax as cess,” he said.

Kejriwal was quick to hit back at the Finance Minister saying that the government was making the honest and the hardworking lot in the queues while coming up with new schemes for the black money holders.

He also took a jibe at the Pradhan Mantri Garib Kalyan Yojana (PMGKY) under which people will be allowed to deposit money in their accounts till 1 April 2017 by paying 50 per cent of the total amount deposited post demonetisation. Garib Kalyan Cess.