The Central Board of Direct Taxes (CBDT) today extended time for filing declaration under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 till May 10th 2017.
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) had commenced on 17.12.2016 and was open for declarations upto 31.03.2017.
Considering the representations received from stakeholder, CBDT, vide Circular No.12 dated 31st March, 2017, extended the date for filing of declaration in Form No.1 till 10th of April, 2017, in cases where due tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) had been received till 31st March, 2017.
Subsequently, representations were received from stakeholders stating that in some cases tax, surcharge and penalty have been paid on or before 31.03.2017 but the corresponding deposit under the Deposit Scheme could not be made by the said date.
Accordingly, Department of Economic Affairs vide notification S.O.1218(E) dated April 19, 2017, has extended the date of making deposit under the Deposit Scheme till 30th April, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before 31.03.2017.
In view of the above, CBDT has decided that if due tax, surcharge and penalty under PMGKY, has been received on or before the 31st March, 2017, and deposit in the Bond Ledger Account under the Deposit Scheme has been received on or before the 30th April, 2017, the declaration in Form No.1 under PMGKY can be filed by 10th May, 2017.
Read the full text of the Circular below.
