Pradhan Mantri Garib Kalyan Yojana – RBI Provides Extension to Deposit Undisclosed Amount

Pradhan Mantri Garib Kalyan Yojana

Pradhan Mantri Garib Kalyan Yojana

The government and the Reserve Bank of India have given permission to deposit the amount till April 30 to those who have declared their undisclosed income under the Pradhan Mantri Garib Kalyan Yojana, in the condition if they have already declared their undisclosed income till March 31 and deposited taxes and fines. There will be no interest in this scheme for four years.

Extension Provide Under Pradhan Mantri Garib Kalyan Yojana

According to the Reserve Bank’s statement, this extension has been given to banks so that they can upload the details on Reserve Bank’s e-Kuber system by April 30. It is worth mentioning that the government started this scheme on December 17, 2016. The last date for the scheme was March 31, as the last opportunity to announce its black money.

Read More: Details of Pradhan Mantri Garib Kalyan Yojana

It has been said in the release that the date of submission and upload will not be extended beyond April 30. The finance ministry has said in a separate notification that in that cases where the amount of tax, surcharges and penalties has been received till March 31, 2017, the effective date for opening a bond laser account will be deemed to be the day the Reserve Bank receives the deposit from the authorized bank.

News Sources: http://zeenews.india.com/hindi/business/govt-further-extends-deadline-for-deposits-under-pmgky-to-april-30/324842

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