Along with this cess, tax, and penalties on undisclosed income or black income stored in banks follwing demonetization is a major action taken by the Government to tackle black money. Current Status of Financial Pmgky in the Country: No, option for premature redemption of the BLA is not available. Download it from Windows Store. But, nowhere a person honestly paying taxes should feel that he is not in an advantageous position by paying regular taxes. The redemption amount will be credited to the bank account furnished by the person in the application form.
All the Indian citizens between visit web page of age eligible to avail the scheme. What is Egmont Group? It was hoped that with demonetisation, more such income will be declared after IDS. Avail our expert help by enrolling with us to keep your knowledge updated and stay ahead of your competition. It has two components -one for disclosing persons and the other one for non-disclosing and caught with undisclosed income.
Thus, the developments in rural India will connect it to latest developments of urban India and make advancement in health, education, IT more reachable to them. For this, the existing Pradhan Mantri Garib Kalyan Yojana will be modified as an antipoverty and development programme.
Next post Interview Discussion – Day 24 March 21, Checkout some important links: But, nowhere a person honestly paying taxes should feel that he is not in an advantageous position by paying regular taxes.
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Click here to read the Exposure Draft Clicl here to see the detailed contents of proposed syllabus. The redemption amount will be credited to the mpgky account furnished by the person in the application form.
Updated as on February 28, 1. This Tax pmgky to be essay as normally you essay. In what form will the deposits under this scheme be held? Are the BLAs tradable?
Financial inclusion or inclusive financing is the pmgky of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those pmgky are not available or affordable.
The money collected under PMGKY will be invested in rural infrastructure including roads, electricity etc.
Indian black money – Wikipedia
When can a declarant make the deposit into the scheme? However, government has observed that hoarding of new currency could not be stopped and also, reports of fake currencies have emerged from few pockets.
The deposit under this Scheme shall be made by any person who declares undisclosed income under sub-section 1 of section C of the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, Best viewed in x resolution in IE 5 and above. Will any interest be paid on the deposit under the scheme? How will the declarant get the redemption amount? It was hoped that with demonetisation, more such income will be declared after IDS.
All you need to know about Pradhan Mantri Garib Kalyan Yojana (PMGKY) ~ AspirantsZone
The deposit amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc. Many people have misused Jan Dhan Accounts and siphoned off money in illegal ways.
Security challenges and their management in border areas; linkages of organized crime with terrorism Terrorism has time and again raised …. Queries about the scheme shall be forwarded to e-mail. Who will provide other services to the declarants after deposit in the scheme? Yes, deposit may be made in combination of more than one means of payment, at a single time. The census says that 6.
What is Pradhan Mantri Garib Kalyan Yojana (and PMGKYCess)?
Avail our expert help by enrolling with us to keep your knowledge updated and stay ahead of your competition. It is for the first time in 70years that government has thought of putting tax structure for rural development.
It has two components -one for disclosing persons and the other one for non-disclosing and caught with undisclosed income. Repayment of the deposit will be made after a period of 4 years from the effective date of deposit ie.
Application for the deposit will be available at branches of Authorised Banks. The Pradhan Mantri Garib Kalyan Cess is thus, a cess imposed on those who discloses undisclosed income out of their savings made in banks after the demonetization day.
After making the deposit, will any documentary evidence be issued? Food Subsidy is the star but may invite WTO attention.
It is also available in the Reserve Bank of India website.