Income Tax : The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in ou...
Fema / RBI : Articles answers 21 FAQs on Pradhan Mantri Garib Kalyan Deposit Scheme 2016 for declarant under Taxation and Investment Regime fo...
Income Tax : The IT Department issued online intimations for verification of cash deposits during demonetization to nearly 18 lakh taxpayers of...
Income Tax : As per para 7(2) of the PMGK deposit Scheme, 2016, the Authorised banks are required to furnish electronically the details of depo...
Income Tax : As per the Notification No. 116/2016, the Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016, is a declaration u/s 199C of the Finan...
Income Tax : We would like to bring to your kind attention, the pressure under which the Assessing Officers are forced to discharge their dutie...
Income Tax : Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016; Government decides to allow declarants to make deposits on...
Fema / RBI : It is clarified that Co-operative Banks are not authorised banks to accept deposits under PMGKDS, 2016. Application for the deposi...
Income Tax : Up to 30.12.2016 payment towards tax, penalty and deposit under Pradhan Mantri Garib Kalyan Yojana (PMGKY), can be made in Old Ban...
Income Tax : Political parties have not been granted any exemption post demonetisation and introduction of Taxation Laws (Second Amendment) Act...
Income Tax : ITAT Delhi held that addition u/s 69A of the Income Tax Act unsustainable as cash deposit of INR 4.50 cr. is income under the sche...
Income Tax : Nawal Kishore Soni Vs ACIT (ITAT Jaipur) It is evident from entries found in cash book of Ram Kumar Soni and from statement record...
Income Tax : The issue under consideration is whether the CIT(A) was right in deleting the addition made by the AO on account of unexplained in...
Income Tax : Virag Tiwari Vs. Principal CIT & Others (Delhi High Court) In the present case we perceive that an equitable resolution is pos...
Income Tax : In case, the petitioner submits any application to the Income Tax Department, the authorities can look into matter for the purpose...
Income Tax : No public servant shall produce before any person or authority, any such document or record or any information or computerised dat...
Income Tax : Petitions have been received in CBDT from the declarants under the Pradhan Mantri Garib Kalyan Yojana, 2016, Scheme (`PMGKY') poin...
Income Tax : CBDT vide Circular No.14 of 2017 dated 21st April, 2017 has extended the date of filing of declaration under PMGKY to 10th May, 20...
Fema / RBI : The Government of India has vide the notification no. S.O. 4061 (E) dated December 16, 2016 announced the Pradhan Mantri Garib Kal...
Income Tax : In case of persons who had filed the declaration by depositing tax, surcharge and penalty under PMGKDS on or before 31.03.2017, to...
Article explains Major Amendments made in Income Tax post 8th Nov 2016 and Pradhan Mantri Garib Kalyan Yojana Rules, 2016-
Political parties have not been granted any exemption post demonetisation and introduction of Taxation Laws (Second Amendment) Act, 2016
Old notes can be deposited in an account only once now: No direct credit of amount in excess of Rs. 5000 deposited in account:
Form 1 (PMGKY, 2016) is available for e-Filing. As per the Pradhan Mantri Garib Kalyan Yojana, 2016, a declaration of income in the form of cash or deposit in an account maintained with a specified entity and The amount deposited in Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 shall be made in Form-1. Form 2 […]
As per Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016, Taxes will have to be paid first and then scheme can be availed on production of tax receipt, unlike recent Income Disclosure Scheme
Central Government hereby- (i) notifies the Principal Commissioner or the Commissioner, as the case may be, who exercises the jurisdiction under section 120 of the Income-tax Act, 1961 (43 of 1961)
(1) These rules may be called the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana Rules, 2016. They come into force from date of their publication in the Official Gazette.
CBDT notifies 17th day December, 2016, as date on which Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 comes into force.
This Scheme may be called Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 and come into force from 17th December 2016 and shall be valid till 31st March 2017.
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 introduced under the said Act to commence from tomorrow i.e.17th December, 2016 and to remain open for declarations up to 31st March, 2017.
