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PMGKY Scheme

ITAT Upholds Legitimacy of Cash Deposits, Rejects Unexplained Classification u/s 68 of Income Tax Act [Read Order]

Sneha Sukumaran Mullakkal

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the legitimacy of cash deposits made during the demonetization period and rejected...

No Additions u/s 69A allowable for Deposit of Demonetized Currency if Advance Tax paid under PMGKY...

Penalty won’t attract on Rejection of an Application under PMGK Scheme: Delhi HC allows an Income...

CBDT extends Time for Filing declarations under PMGKY Scheme till May 10

Finance Ministry extends due date for Deposit under PMGKY Scheme till April 30, 2017 [Read...

Hyderabad HC directs IT Dept to relax PMGKY Rules to help doctors to avail the benefit of the Scheme

The Hyderabad High Court has directed the Income Tax authorities to relax some of the conditions of the recent Pradhan Mantri Garib Kalyan Yojana, introduced by the Central Government...

PMGKY Scheme: Form 1 can be filed by April 10th, If deposit made deadline [Read Circular]

The Central Board of Direct Taxes (CBDT) today said a declarant under the PMGKY scheme will be allowed to file declaration under the stipulated Form 1 by April 10, if tax and penalty is paid by the...

PMGKY Scheme: Income Tax Offices to remain open till 31 March Midnight

The Central Board of Direct Taxes (CBDT) on Thursday issued an order that all designated offices of the Income Tax department which can accept declarations under the black money window of PMGKY will...

CBDT issues Clarifications on PMGKY Scheme [Read Circular]

In a recent circular issued by the Central Board of Direct Taxes (CBDT), the Board issued clarifications on the PMGKY Scheme. The circular clarified that in case of undisclosed income represented in...

Finance Ministry bars Co-Operative Banks from accepting deposits under PMGKY Scheme

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. While amending earlier notification issued by Reserve Bank of India (RBI), the Finance Ministry has barred Co-operative from...

Income in the form of Assets cannot be declared under PMGKY Scheme: No Credit for Advance Tax or TDS, says CBDT

In a notification released today, the Central Board of Direct Taxes (CBDT) issued clarification on newly introduced The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. ...