The Central Board of Direct Taxes (CBDT) on Friday announced the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), open for declarations up to March 31.
As per the announcement, the representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before March 31, but the corresponding deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) could not be made by the said date.
Accordingly, DEA vide notification S.O.1218(E) dated April 19, the tax payers can now enjoy the extended date of making deposit under the Deposit Scheme up to April 30 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before March 31.
Subsequently, CBDT vide Circular No.14 of 2017 dated April 21, 2017 has extended the date of filing of declaration under PMGKY to May 10 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the March 31, and deposit under the Deposit Scheme has been made on or before the April 30, 2017.
The Pradhan Mantri Garib Kalyan Yojana commenced on December 17, 2016.