<h1>Lok Sabha Passes Taxation Laws (2nd Amendment) Bill, 2016, Imposing High Taxes on Demonetised Currency Deposits Amid Protests.</h1> The Lok Sabha passed the Taxation Laws (2nd Amendment) Bill, 2016, which imposes taxes on money deposited in banks following demonetisation, without debate amid opposition protests. The bill targets illegal conversions of demonetised Rs. 1000 and Rs. 500 notes, imposing a 60% tax plus penalties, totaling 85%, on offenders. Voluntary disclosures of black money will incur a 50% tax, with a portion returned over four years. Despite opposition demands for debate, the bill was passed urgently by voice vote, with only two amendments considered, one of which was rejected.