PMGKY 2016

[SWATANTRA GOEL]

Ref the Scheme become effective from 17th Dec to 30th Dec 2016, are the cash deposits made on 13 Nov covered under declaration scheme. And can the declaration be made & tax paid till March-2017?

[Ravi Kumar]

NEW DELHI: The government offered a “last window” to people with unaccounted wealth to come clean or face stringent penalties while inviting others to blow the whistle on those suspected to be holding black money as it launched the scheme that had been announced earlier.

Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016, will start on December 17 and remain open until March 31 next year. Those who declare cash deposits under this will be levied a charge of 50%, which breaks down into ..

 

[KASTURI SETHI]

Sh.Ravi Kumar Ji,

Thanks for enrichment of knowledge. So I can say that you are "all rounder" in the field of taxation.

[Ganeshan Kalyani]

So many taxes are proposed now a days. Definitely some good is going to happen.

AI Summary

Declaration window for undisclosed cash requires payment of a substantial charge and runs through the prescribed enrolment period. The Pradhan Mantri Garib Kalyan Yojana, 2016 opens on 17 December and remains available until 31 March of the following year; persons who declare cash deposits under the scheme will be subject to a charge of 50 percent on the declared amount.