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Arun Jaitley slams Arvind Kejriwal for 'misrepresenting changes in taxation law'
Jaitley made this clarification on Twitter, a day after Kejriwal asked why the penalty on declaration of black money had been reduced from 200% to 10%. Jaitley also said that a total of 77% tax will be imposed on cash if an individual shows it in the return, but can explain it. If they don't show it on their return they will be charge s whopping 60% of income as penalty, Jaitley said.
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