Govt. Introduced New Pradhan Mantri Garib Kalyan Yojana – PMGKY

The government has started a scheme of Disclosure of Income scheme named Pradhan Mantri Garib Kalyan Yojana (PMGKY). Under this scheme, the person who allows other people to deposit money in his account, he has to pay 50% of the whole amount (30% tax, 10% fine and 33% of the tax which is 10% of the whole amount) in form of Poor Welfare Cess till 1 April 2017. Besides this, 25% amount will remain locked in Pradhan Mantri Poor Welfare Deposit Scheme till 4 Years.

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