Tuesday, Mar 01, 2005
Tuesday, Mar 01, 2005 |
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Advts: Classifieds | Employment | Front Page
NEW DELHI, FEB. 28. The Opposition broke out in an uproar over the Union Finance Minister, P Chidambaram's announcement today in his budget speech that withdrawal of Rs. 10,000 from a bank in a single day would be subject to a levy of 0.1 per cent tax, that is Rs. 10. ``It is not acceptable... it is too much," some Opposition members got up to say. Even Treasury Bench members were seen murmuring in disagreement over the Finance Minister's announcement. Mr. Chidambaram sought to justify the step, saying it was aimed to put a check on the operation of black money. The Speaker, Somnath Chatterjee, had to intervene to restore order in the House saying, "You are free to oppose this measure later on.... but now you cannot interfere like this.'' Some members also raised subdued objection to Mr. Chidambaram's announcement that banks would be required to report to the Government all deposits which were exempt from TDS on interest. — UNI
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