Category Archives: PMGKY 2016

PMGKY Declaration Date Extended -Circular No.14 of 2017 – 21.04.2017

By | April 21, 2017

Circular No.14 of 2017 F.No.370142/33/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 21st April, 2017 Extension of time for filing declaration under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana,… Read More »

Date for filing of declaration under PMGKY extended up to 10.05.2017

By | April 21, 2017

Date for filing of declaration under PMGKY extended up The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana,2016 (PMGKY) had commenced on 17th December, 2016 and was open for declarations up to 31st March, 2017. Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid… Read More »

PMGKDS – Effective date of opening Bonds Ledger Account – Notification

By | April 21, 2017

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 19th April, 2017 Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme, Notification No S.O. 4061 (E) S.O. 1218(E).—In exercise of the powers conferred by clause (c) of section 199B of the Finance Act, 2016 (28 of 2016) (hereinafter referred to as the Act), the… Read More »

PMGKY – Date for deposit in Bonds Ledger Account extended

By | April 20, 2017

Press Information Bureau Government of India Ministry of Finance 19-April-2017 19:48 IST Central Government amends Pradhan Mantri Garib Kalyan Deposit Scheme through a Notification. In exercise of the powers conferred by clause (c) of Section 199B of the Finance Act, 2016 (28 of 2016), the Central Government has amended through a Notification the conditions specified… Read More »

Presentation -PPT-on Pradhan Mantri Garib Kalyan Yojana 2016

By | March 14, 2017

Pradhan Mantri Garib Kalyan Yojana, 2016 Download Presentation -PPT-on Pradhan Mantri Garib Kalyan Yojana 2016 Related Post on PMGKY 2016 Particulars Notification No Date New Taxation Bill to Tax undisclosed Income received assent of President ,  Taxation Laws (Second Amendment) Act, 2016..   15.12.2016 Pradhan Mantri Garib Kalyan Deposit Scheme 2016 S.O. 4061(E). 16.12.2016 Amendment… Read More »

Existence of undisclosed bank deposits on date of PMGKY – CBDT Clarify

By | March 14, 2017

Existence of undisclosed bank deposits non-mandatory on date of PMGKY payment: CBDT Circular No 8 of 2017 Dated 14/03/2017 Clarification on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 PMGKY scheme has commenced and it is open for declarations till March 31, 2017. Representations have been received from various stakeholders seeking… Read More »

Seized Cash by Police – Eligible for PMGKY scheme- P & H High Court

By | February 15, 2017

Held I am of the view that writ petition can be disposed of with a direction to respondents not to take any coercive action against the petitioner and he may be granted a permission to take the assistance of a lawyer to be present at visible but not audible distance during his interrogation and recording… Read More »

Make 25% deposits on one or more occasions in the PMGKDS 2016 -Govt Amendment

By | February 7, 2017

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016; Government decides to allow declarants to make deposits on one or more occasions in the PMGKDS, 2016 The Government of India, in consultation with the Reserve Bank of India (RBI), had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide Notification No. S.O.4061(E) dated… Read More »

Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme -Notification

By | January 21, 2017

As per the following Notification now Co operative Banks can not accept Deposits under Pradhan Mantri Garib Kalyan Deposit Scheme 2016 MINISTRY OF FINANCE (Department of Economic Affiairs) NOTIFICATION New Delhi, the 19th January, 2017 Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme,Notification No S.O. 4061 (E) S.O. 204(E).— In exercise of the powers conferred by… Read More »

PMGKDS 2016- Co-operative Banks not authorised to accept deposits – Notification

By | January 20, 2017

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 The Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide Notification No. S.O.4061(E) dated December 16, 2016. The deposit under this Scheme shall be made by any person who declared undisclosed income… Read More »

12 FAQ’s on PMGKY 2016 released by CBDT

By | January 18, 2017

FAQ on PMGKY 2016 Central Board of Direct Taxes (CBDT) has released 12 FAQ on PMGKY 2016 vide circular No 2 of 2017 as below :- Circular No.2 of 2017 F.No.142/33/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 18th of January, 2017 Clarifications on the… Read More »

Supreme Court dismissed writ against PMGKY scheme

By | January 11, 2017

SUPREME COURT OF INDIA Siddharth Mehta v. Union of India DIPAK MISRA AND AMITAVA ROY, JJ. WRIT PETITION (CIVIL) NO. 1013 OF 2016 DECEMBER  16, 2016 ORDER 1. Heard Mr. Dhruv Kapur, learned counsel for the petitioner in the presence of petitioner who is personally present. 2. The present writ petition is preferred under Article… Read More »

Registration & Submission of Form V for Reporting under Pradhan Mantri Garib Kalvan Deposit Scheme

By | January 3, 2017

DGIT(S)-ADG(S)-2/e-filing notification/106/2016 Government of India  Ministry of Finance Central Board-of Direct Taxes Directorate of Income Tax (Systems) Notification No. 14 of 2016 New Delhi, 30thDecember, 2016 Procedure for Registration and Submission of Form V for Reporting under Pradhan Mantri Garib Kalvan Deposit Scheme (PMGK), 2016 In exercise of the powers conferred by Subsection (c) of… Read More »

How to file Form V – PMGK Deposit Scheme 2016-User Manual

By | December 30, 2016

Form V (PMGK Deposit Scheme, 2016) – User Manual Table of Contents Introduction……………………………………………………………………………………………………. Pre-Requisites for Uploading Form V ………………………………………………………………..  Steps to generate ITDREIN for Form V……………………………………………………………. Steps to add Authorised Person …………………………………………………………………………. Steps to Upload Form V ………………………………………………………………………………………… Steps to View Form V……………………………………………………………………………………………. Introduction. As per the Notification No.[F.No.3(1)-W&M/2016] / so 4061, dated 16-12-2016, the… Read More »

Explanatory Notes on PMGKY 2016 issued by CBDT

By | December 27, 2016

Circular No.43 of 2016 F.No. 142/33/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 27th December,2016 EXPLANATORY NOTES ON PROVISIONS OF THE TAXATION AND INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 AS CONTAINED IN CHAPTER IX-A OF THE FINANCE ACT, 2016 Introduction 1. The… Read More »

New Book on Taxation under Pradhan Mantri Garib Kalyan Yojana -2016

By | December 24, 2016

Taxation & Investment Regime for PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 Link to Buy  Taxation & Investment Regime for PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 Publisher: Bharat Law House Pvt. Ltd.; First edition (2016) Pages 244 PART 1 TAXATION & INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 Flowchart for Pradhan Mantri Garib Kalyan… Read More »

PMGKY 2016 -Tax and Penalty in Old Notes allowed only till 30.12.2016

By | December 23, 2016

Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency allowed till 30 th SDecember, 2016. The Central Government has decided that up to 30.12.2016,  the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib KalyanYojana (PMGKY), can be made in Old Bank Notes of Rs. 500 and… Read More »

PMGKY 2016 Compliance Checklist and Steps

By | December 19, 2016

Compliance Checklist of  PMGKY 2016 Pradhan Mantri Garib Kalyan Yojana 2016, Under the Taxation and Investment regime for Pradhan Mantri Garib Kalyan Yojana, a taxpayer can declare undisclosed income in the form of deposits and cash and is required to pay taxes, cess and penalty on such declared incomes. Following are the Steps for Compliance… Read More »

List of Authorized Banks for Deposit of Tax under PMGKY

By | December 18, 2016

List of Authorized Banks for Deposit of Tax Amount under Pradhan Mantri Garib Kalyan Yojana 2016 Authorized Banks: Allahabad Bank Andhra Bank Axis Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank HDFC Bank ICICI Bank IDBI Bank Indian Bank Indian Overseas Bank Jammu & Kashmir… Read More »

PMGKY Challan No ITNS 287

By | December 18, 2016

PMGKY CHALLAN NO. ITNS 287 Under the Taxation and Investment regime for Pradhan Mantri Garib Kalyan Yojana, a taxpayer can declare undisclosed income in the form of deposits and cash and is required to pay taxes, cess and penalty on such declared incomes. The said tax payment has to be made to the Government Account… Read More »

PMGKY 2016 – All Notifications , Rules , Circulars

By | December 17, 2016

Pradhan Mantri Garib Kalyan Yojana 2016  PMGKY 2016  PMGKY 2016 – All  Notifications , Rules , Circulars issued on Pradhan Mantri Garib Kalyan Yojana 2016 Particulars Notification No Date New Taxation Bill to Tax undisclosed Income received assent of President ,  Taxation Laws (Second Amendment) Act, 2016..   15.12.2016 Pradhan Mantri Garib Kalyan Deposit Scheme 2016… Read More »

Form 1 PMGKY 2016 -Download /Print – Pradhan Mantri Garib Kalyan Yojana

By | December 17, 2016

Form 1 PMGKY 2016  [ Form 1 PMGKY  ( Pradhan Mantri Garib Kalyan Yojana ) 2016 ] The Central Board of Direct Taxes has notified the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. Under this, any person can declare income in the form of cash or deposit in an account maintained with specified entity.… Read More »