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PMGKY News

Pradhan Mantri Garib Kalyan Yojana

30 Jun 2020

Pradhan Mantri Garib Kalyan Yojana: All about the scheme to help India's poor

Prime Minister Narendra Modi on Tuesday extended the PM Garib Kalyan Anna Yojana for further five months till November-end. During his sixth address to the nation, PM Modi said that the government will keep providing free foodgrains to the poor section of the society due to the increased need during the festivals.

09 Jun 2020

EPFO settles 36.02 lakh claims worth Rs 11,540 crore in April-May 2020

Out of this, 15.54 lakh claims, disbursing Rs. 4580 crore to claimants, were related to the recently introduced COVID-19 advance under Pradhan Mantri Garib Kalyan Yojana (PMGKY).

07 Sep 2017

Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme

The scheme was launched in December last year by the government to enable people with black money to come clean by paying tax and penalty of 50 percent.

Income Tax department

02 Jun 2017

Income Tax department warns against cash dealings of Rs 2 lakh, seeks tip-off

Income Tax department on Friday warned people against indulging in cash transaction of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

Pradhan Mantri Garib Kalyan Deposit Scheme

19 Apr 2017

Deposits under PMGKDS can be made till April 30

The government and the RBI on Wednesday gave time till April 30 for "commensurate deposits" by people who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that allowed parking money in non-interest bearing deposits for four years.

Income Tax returns

30 Mar 2017

I-T dept to seek info on deposits made during demonetisation in new ITRs

The taxman will seek data on deposits made by an assessee during the demonetisation period as part of the new Income Tax Returns (ITRs) that would be notified soon for assessment year 2017-18.

15 Mar 2017

CBDT to hold review meeting on PMGKY, tax collection on Mar 17

The CBDT will hold a high-level meeting later this week to review the progress in collections under the black money window of Pradhan Mantri Garib Kalyan Yojna (PMGKY), that will close on March 31.

09 Mar 2017

I-T dept asks blackmoney holders to make honest declarations

The I-T department on Thursday nudged blackmoney holders to make "honest" disclosures under the tax amnesty scheme -- PMGKY -- warning that non-declaration could attract 77.25 percent tax and penalty along with prosecution.

25 Feb 2017

Govt warns banks over non-acceptance of PMGKY tax

The government has warned banks of "de-authorisation" of branches if they refuse to accept taxes under the amnesty scheme PMGKY, which ends on March 31.

21 Feb 2017

Operation Clean Money: No threat or show cause to taxpayers, CBDT tells taxman

The CBDT on Tuesday asked the taxman to ensure there is no "threat, warning or show cause" notice to taxpayers contacted by it under 'Operation Clean Money' that is aimed at checking black money post-note ban.

16 Feb 2017

Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'

Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.

02 Feb 2017

Note ban impact: 18L people under I-T scanner, queries sent to 10L individuals so far

Armed with information about unaccounted cash of Rs 4.7 lakh crore, deposited by 18 lakh individuals, the government on Thursday said that queries have been sent to those 10 lakh people through SMS, email so far.

Income tax depaertment

31 Jan 2017

CBDT identifies 18 lakh people with suspicious deposits

The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds.

22 Jan 2017

Your assets 'not hidden' from our gaze: I-T dept tells black money holders

The income tax department on Sunday advised the black money holders that their undisclosed assets are "not hidden" from its gaze.

21 Jan 2017

I-T pressure prompted many to opt for PMGKY post-demonetisation

The pressure built up by the income tax department post-demonetisation prompted those under scrutiny to opt for the Pradhan Mantri Garib Kalyan Yojana (PMGKY).

20 Jan 2017

Govt bars cooperative banks from accepting deposits under new tax amnesty scheme

The government has barred cooperative banks from accepting deposits under the new tax amnesty scheme PMGKY, a move that comes amidst the Income Tax department uncovering anomalies post demonetisation.

Income Tax department

28 Dec 2016

I-T dept begins process of analysing deposits post note-ban

The I-T department has begun the process to examine bank deposits and transactions to check possible black money instances and said once the last opportunity to declare funds in old notes under the PMGKY scheme ends it will be very tough for hoarders.

Pradhan Mantri Garib Kalyan Yojana

28 Dec 2016

No cash payment in demonetised notes for PMKGY after Dec 30: IT official

No one will be able to pay tax, surcharge, penalty and deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme in demonetised notes after December 30, even though the scheme will continue till March 31, 2017, an Income Tax official said on Wednesday.

28 Dec 2016

Black money: Proof of tax paid, 4-year lock-in must to avail of new income disclosure scheme

Black money holders keen to avail of the new tax evasion amnesty scheme will have to first deposit 49.9 percent tax and park a quarter of their unaccounted cash in zero-interest deposit before being able to apply for it.

22 Dec 2016

Now, use old Rs 500 and Rs 1000 notes for paying tax and penalty under new income disclosure scheme

The payments under the new black money disclosure scheme Pradhan Mantri Garib KalyanYojana (PMGKY), can be made till December 30, 2016.

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