NEW DELHI: Amid din, Lok Sabha passed, within minutes and without any discussion, a bill that seeks to tax money deposited in banks post demonetisation, marking the first legislative business during the two-week-old Winter Session which has been paralysed by the opposition.The Taxation Laws (2nd Amendment) Bill, 2016, was passed by the lower House after eight days of total washout. The Rajya Sabha , however, again failed to transact any business because of pandemonium of demonetisation.Even as Opposition members indulged in fierce slogan shouting, finance minister Arun Jaitley said the bill will give means to the government of India to run schemes like Garib Kalyan Kosh. While they will get back 25 per cent immediately, the rest 25 per cent will be returned after 4 years.Some amendments moved by opposition members were rejected as those required approval of the President which could not be obtained.Two amendments by N K Premchandran (RSP) and B Mahtab (BJD) were allowed. While Premchandran refused to move the amendment as he was shouting slogans, Mahtab's was negated by a voice vote.Earlier, several opposition members said the bill could not be discussed before the debate on demonetisation as the measure was a follow up of the note ban decision.Speaker Sumitra Mahajan said since the bill is of urgent public importance, it has to be passed immediately. He said a way should be found.

Source: Times of India November 29, 2016 10:11 UTC