Excel Form-II Application PM Garib Kalyan Deposit Scheme 2016. Application can be made to any banking company

Excel Form-II Application PM Garib Kalyan Deposit Scheme 2016. Application can be made to any banking company in multiple of Rs. one hundred 

The Finance Ministry has notified the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 to provide one more opportunity to black money hoarders to declare undisclosed income under sub-section (1) of section 199C of the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016.

The PMGKD Scheme shall come into force from the 17th day of December, 2016 and shall be valid till 31st day of March, 2017.

Form of Deposit:
The deposits made by the declarant shall be held to his/her credit in Bonds Ledger Account maintained with Reserve Bank of India.

Application for deposit under PM Garib Kalyan Deposit Scheme 2016
An application for the deposit under this Scheme shall be made in Form II clearly indicating the amount, full name, Permanent Account Number (hereinafter referred to as “PAN”), Bank Account details (for receiving redemption proceeds), and address of the declarant.

Provided that if the declarant does not hold a PAN, he shall apply for a PAN and provide the details of such PAN application along with acknowledgement number.

The application in Form-II shall be accompanied by an amount in multiples of rupees one hundred which shall not be less than twenty-five per cent. of the undisclosed income to be declared in the form of cash or draft or cheque or through electronic transfer.

The application for deposit in Form-II can be made to any banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies.

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