Finance Minister Arun Jaitley today said the Bharatiya Janata Party or BJP will observe November 8 as 'Anti-Black Money Day'. The Finance Minister stated the main objectives of the note ban and said the government wanted to reduce the quantity of cash currency, increase the tax payers’ base, squeeze the terror funding and digitise the commercial transactions. Jaitley said: "The Congress has not understood the object of demonetisation. The ownership of cash is not known, it is in the hands of anonymous owner. So when cash gets deposited in banks, what was being laundered earlier, now gets into the law books. So for entry into the lawful system, you are liable to pay tax. Those who had never paid taxes in their life, were happy with the laundering system."
Finance Minister Arun Jaitley today said the Bharatiya Janata Party or BJP will observe November 8 as 'Anti-Black Money Day'. The Finance Minister stated the main objectives of the note ban and said the government wanted to reduce the quantity of cash currency, increase the tax payers’ base, squeeze the terror funding and digitise the commercial transactions. Jaitley said: "The Congress has not understood the object of demonetisation. The ownership of cash is not known, it is in the hands of anonymous owner. So when cash gets deposited in banks, what was being laundered earlier, now gets into the law books. So for entry into the lawful system, you are liable to pay tax. Those who had never paid taxes in their life, were happy with the laundering system."
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