<h1>Indian Government Offers Final Chance to Disclose Black Money Under PMGKY Before March 2017; 50% Tax Imposed.</h1> The Indian government has provided a final opportunity for black money holders to disclose their unaccounted funds by March 2017 under the Pradhan Mantri Garib Kalyan Yojana (PMGKY). This scheme requires a 50% tax on deposits of demonetized Rs. 500 and Rs. 1000 notes made after the demonetization announcement. Non-disclosure will result in higher penalties and possible prosecution. The scheme, part of The Taxation Laws (Second Amendment) Act, 2016, allows confidential disclosures and offers immunity from prosecution. Depositors must pay taxes upfront and set aside 25% of the undisclosed amount in a non-interest-bearing deposit for four years.