TaxTMI 
TaxTMI 
Amendment of section 2
X X X X Extracts X X X X
X X X X Extracts X X X X
....ulated at the rate of twenty-five per cent. of such 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-sect....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(including any bank or banking institution referred to in section 51 of that Act); (iii) any Head Post Office or Sub-Post Office; and (iv) any other entity as may be notified 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 Gar....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hall be in such form and verified in such manner, as may be prescribed. 199H. Time for payment of tax, penalty, surcharge and deposit. (1) The tax and surcharge payable under section 199D and penalty payable under section 199E in respect of the undisclosed 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 se....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e, where a declaration has been made by misrepresentation or suppression of facts or without payment of tax and surcharge under section 199D or penalty under section 199E or without depositing the amount in the Deposit Scheme as per the provisions of section 199F, such declaration shall be void and shall be deemed never to have been made under this Scheme. 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. Sch....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e under Chapter IX or Chapter XVII of the Indian Penal Code, the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), the Unlawful Activities (Prevention) Act, 1967(37 of 1967), the Prevention of Corruption Act, 1988 (49 of 1988), the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988)and the Prevention of Money-Laundering Act, 2002 (15 of 2003); (c) to any person notified under section 3 of the 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). 199....