PMGKY 2016 - Page 3

Amendment in Pradhan Mantri Garib Kalyan Deposit 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 ...

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Posted Under: Income Tax |

Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme

1. S.O. 07/02/2017

Pradhan Mantri Garib Kalyan Deposit Scheme notified vide Notification No. S.O.4061 (E). dated December 16, 2016 and amendment vide Notification No. S.O. 204(E) dated January 19, 2017....

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PMGKY 2016: Reclaim your peace of mind

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 Can help you come clean while contributing to nation building endeavours...

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Posted Under: Income Tax |

Co-operative Banks barred from accepting deposits under PMGK Deposit Scheme

S.O. 204(E) 19/01/2017

It is clarified that Co-operative Banks are not authorised banks to accept deposits under PMGKDS, 2016. Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949 (10 of 1949) applies....

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12 FAQs on Tax & Investment- Pradhan Mantri Garib Kalyan Yojana 2016

Circular No. 02/2017-Income Tax 18/01/2017

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity ...

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Analysis of Pradhan Mantri Garib Kalyan Yojana

Offering one last window to black money holders, the government has come out with a scheme giving black money holders time until March-end to come clean by paying 50 per cent tax on bank deposits of junk currencies made post demonetization....

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Posted Under: Income Tax |

Summary of Cicular on Pradhan Mantri Garib Kalyan Yojna, 2016

The CBDT vide Circular No.43 of 2016 dated 27.12.2016 issued explanatory notes on provisions of the taxation and investment regime for Pradhan Mantri Garib Kalyan Yojna, 2016 as contained in Chapter IX-A of the Finance Act, 2016. The summary of the same is given below....

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Posted Under: Income Tax |

All you need to know about Pradhan Mantri Garib Kalyan Yojana, 2016

It’s time to be back to one-day matches after scruffing it out for almost 50 days during the demonetisation cycle. The Govt. has opened up its window for disclosures of income with a 49.9% tax rate under the Pradhan Mantri Garib Kalyan Yojana...

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Posted Under: Income Tax |

SC dismisses writ on Pradhan Mantri Garib Kalyan Yojana tax scheme

Siddharth Mehta Vs.Union Of India And Anr (Supreme Court)

Writ been filed in SC requesting to quashing/setting aside penalty, surcharge and also provisions for lock-in/withholding of 25% of disclosed income for 4 years under the Taxation Laws (Second Amendment) Bill, 2016, (Pradhan Mantri Garib Kalyan Yojna, 2016), i.e. Section 199D(2), 199E and 199F of the Finance Act, 2016, by declaring them...

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Registration & Submission of Form V under PMGK Deposit Scheme

DGIT Notification No. 14/2016 30/12/2016

Procedure for registration and submission of Form V for Reporting under Pradhan Mantri Garib Kalyan Deposit Scheme (PMGK), 2016....

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