TaxTMI 
TaxTMI 
Amendment of section 2
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....uch advance tax.'; (b) Insertion of new Chapter IX A. after Chapter IX, the following Chapter shall be inserted, namely:- 'CHAPTER IXA TAXATION AND INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 199A. Short title and commencement (1) This Scheme may be called the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. (2) It shall come into force on such date as the Central Government may, by notification, in the Official Gazette, appoint. 199B. Definitions. In this Scheme, unless the context otherwise requires,- (a) "declarant" means a person making the declaration under sub-section (1) of section 199C; (b) "Income-tax Act" means the Income-tax Act, 1961 (43 of 1961); (c) "Pradhan ....
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....otified by the Central Government in the Official Gazette in this behalf. 199D. Charge of tax and surcharge (1) Notwithstanding anything contained in the Income-tax Act or in any Finance Act, the undisclosed income declared under sub-section (1) of section 199C within the time specified therein shall be chargeable to tax at the rate of thirty per cent. of the undisclosed income. (2) The amount of tax chargeable under sub-section (1) shall be increased by a surcharge, for the purposes of the Union, to be called the Pradhan Mantri Garib Kalyan Cess calculated at the rate of thirty-three per cent. of such tax so as to fulfil the commitment of the Government for the welfare of the economically weaker sections of the society. 199E. Penal....
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....losed income, shall be paid before filing of declaration under sub-section (1) of section 199C. (2) The amount referred to in sub-section (1) of section 199F shall be deposited before the filing of declaration under sub-section (1) of section 199C. (3) The declaration under sub-section (1) of section 199C shall be accompanied by the proof of deposit referred to in sub-section (1) of section 199F, payment of tax, surcharge and penalty under section 199D and section 199E, respectively. 199-I. Undisclosed income declared not to be included in total income. The amount of undisclosed income declared in accordance with sub-section (1) of section 199C shall not be included in the total income of the declarant for any assessment year under ....
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....heme. 199N. Applicability of certain provisions of Income-tax Act. The provisions of Chapter XV of the Income-tax Act relating to liability in special cases and of section 119, section 138 and section 189 of that Act shall, so far as may be, apply in relation to proceedings under this Scheme as they apply in relation to proceedings under the Income-tax Act. 199-O. Scheme not to apply to certain persons. The provisions of this Scheme shall not apply- (a) in relation to any person in respect of whom an order of detention has been made under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (52 of 1974): Provided that- (i) such order of detention, being an order to which the provisions of secti....
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....Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (27 of 1992); (d) in relation to any undisclosed foreign income and asset which is chargeable to tax under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015). 199P. Removal of doubts. For the removal of doubts, it is hereby declared that save as otherwise expressely provided in sub-section (1) of section 199C, nothing contained in this Scheme shall be construed as conferring any benefit, concession or immunity on any person other than the person making the declaration under this Scheme. 199Q. Power to remove difficulties. (1) If any difficulty arises in giving effect to the provisions of this Scheme,....