The taxation and investment regime for Pradhana Mantri Garib Kalyan Yojana 2016—representations under the Scheme pertaining to challan corrections and conversion, etc.—reg.

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....used for making payment of liability under the Scheme or some of the particulars in the challans were filled wrongly. Instances have also been reported where wrong challans were used for making payment of twenty-five per cent. of declaration under PMGKY towards Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 ("PMGKD"). Due to such mistakes, some of the declarants were unable to file their declaration under PMGKY Scheme and have now approached Board for providing appropriate relief in such cases under section 119 of the Income-tax Act, 1961 ("Act"). 2. Under PMGKY, the declarants were required to effect payment of tax, surcharge and penalty by 31st March, 2017 and file the declaration in Form1. The last date for making deposit under PMGKD ....

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....ed on the last day. As CBDT vide Circular No. 14 of 2017, dated 21st April, 2017, has already extended the time limit for filing Form 1 till 10th May, 2017, no further extension of time seems required in such cases also. (iii) Cases have been reported where the declarants have used single challan No. 287 (Challan for PMGKY) for making payment of taxes as well as deposits under PMGKD instead of separately making 25 per cent. compulsory deposit under PMGKD Scheme with the specified banks. Since the declarants did not made the PMGKD deposit separately as required under the Scheme within the specified due date, they became ineligible to file declaration under the Scheme. Therefore, no relief can be given in respect of such instances as well. ....

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....ically through Systems and allowing the declarants to file Form 1 after making the corrections within a specified time limit so that their declaration gets regularized under PMGKY. However, where there is anomaly in PMGKD payment as well, the relaxation shall not be applicable for the reasons already stated above. The modalities for correction of PMGKY challans is mentioned in paragraph below. 5. For facilitating correction of challans in respect of PMGKY Scheme and subsequent regularization of filing of Form 1, the jurisdictional PrCsIT/CsIT shall be required to submit their recommendations in such cases pending with them by 15th October, 2017 to ADG (Systems)-2, Directorate of Income-tax (Systems). The type of challan errors which can be....

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....e to file Form 1 declaration by 30th November, 2017. Thereafter, after necessary verification, the concerned Pr. CsIT/CsIT will issue an acknowledgment in Form 2 to the declarant within the prescribed time frame under the PMGKY for the said purpose. 8. As far as correction of PMGKY challans to IDS challans is concerned, the necessary steps would be taken immediately in view of date for final installment of IDS Scheme. 9. However, it is reiterated that relaxation of PMGKY challans covers only those cases where Form 1 was pending due to non-credit of PMGKY challan. It cannot grant any relaxation to those cases where either the taxpayer wants to revise his declaration under the PMGKY or remove any error in deposit under the PMGKD in any mann....