PMGKD Scheme 2016-Deposits on one or more occasions allowed to be made by declarants u/s Section 199F(1). Amendment in PMGKD Scheme 2016.
Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016; Government decides to allow declarants to make deposits on one or more occasions in the PMGKDS, 2016
The Government of India, in consultation with the Reserve Bank of India (RBI), had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide Notification No. S.O.4061(E) dated December 16, 2016. The deposit under this Scheme shall be made by any person who declared undisclosed income under Pradhan Mantri Garib Kalyan Yojana, 2016. The deposit sum, which shall not be less than twenty-five per cent of the declared undisclosed income, can be deposited at the authorized banks (as notified by Government of India) from December 17, 2016 (Saturday) to March 31, 2017 (Friday).
In this connection, the Government of India has decided to allow declarants to make deposits on one or more occasions in the PMGKDS, 2016. Accordingly, para 4(4) of the notification stands amended as under:
“4. Subscription and Mode of investment in the Bonds Ledger Account- (4), the deposit to be made under sub-section (1) of Section 199F under this Scheme can be made, on one or more occasions. The deposits shall be made before filing declaration under sub-section (1) of section 199C.”
*****
Effect on a common taxpayer of reduced timeline for filing TDS Correction statements on TDS Credits Income Tax Department has…
Accounting principles and provisions of law do not permit the addition in relation to an opening balance - ITAT In…
Penalty levied for late supply of goods is an allowable deduction u/s 37 as late supply neither a crime nor…
Deduction u/s 80P(2)(d) towards interest received from cooperative banks is allowable to a cooperative society. In a recent judgment, Hon'ble…
Supreme Court to decide difference between employees & employer contribution to PF, ESI for allowability under Section 43B of the…
There is no legislative mandate to collect tax at source under section 206C (1C) from the person involved in illegal…