Tag Archives: PMGKY

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 »

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 »

Undisclosed Income :- PMGKY vs. Voluntary disclosure under Sec. 115BBE

By | December 4, 2016

Disclosure under PM Garib Kalyan Yojna vs. Voluntary disclosure under Sec. 115BBE Sr. No. Points of comparison Proposed PMGKY Scheme Proposed on-tap voluntary disclosure scheme u/s 115BBE of Income-tax Act, 1961 1. Duration of Scheme One-Time window – Limited duration. Last date to be notified On-tap scheme to be available with effect from AY 2017-18.… Read More »

Key Points -Pradhan Mantri Garib Kalyan Yojana 2016 -Tax on Black money

By | November 29, 2016

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 Key Points about Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 Disclosure of black money held in banks or cash Background of  Pradhan Mantri Garib Kalyan Yojana 2016 :In the wake of declaring specified bank notes of Rs 500/ Rs 1000 “as… Read More »