Filing Declaration under PMGKY for declaring black Money – Three Options Opened by Govt of India

By | December 16, 2016
(Last Updated On: December 16, 2016)

Pradhan Mantri Garib Kalyan Yojana (‘PMGKY

The Government has given around 3.5 month’s period for filing declaration under Pradhan Mantri Garib Kalyan Yojana (‘PMGKY’) from December 17, 2016 till March 31, 2017. All declarations under PMGKY shall be furnished to Principal Commissioner or the Commissioner, in any of the following modes:

i) Electronically under digital signature, or

ii) Electronically through EVC, or

iii) In physical Form

Government has also notified ‘Form 1’ for declaring unaccounted income in the form of cash or bank deposits. Declarant needs to specify the following details in Form 1:

a) Name, address and PAN;

b) Status of declarant (whether resident, Non-resident, individual, HUF, Firm, etc.)

c) Amount held in cash and bank deposits.

d) Details of taxes paid before filing of declaration (i.e., date of deposit, Challan Number, etc.)

e) Details of amount deposited in PM Garib Kalyan Deposit Scheme (i.e., minimum deposit amount is 25% of unaccounted income)

An option is also given to revise the declaration till March 31, 2017 if there is any omissions or wrong statement. After filing of declaration, the Principal CIT or CIT shall issue a certification in Form-2 to the declarant within 30 days from the end of the month in which declaration has been furnished.

ParticularsNotification NoDate
Pradhan Mantri Garib Kalyan Deposit Scheme 2016 S.O. 4061(E).16.12.2016
Jurisdiction for declation filed under PMGKY S.O.4060(E).16.12.2016

PMGKY Rules 2016


PMGKY Start Date 17.12.2016 and End Date 31.03.2017


S.O. 4058(E)16.12.2016

Download Application form for Pradhan Mantri Garib Kalyan Deposit Scheme 2016

Download Form III Nomination- Pradhan Mantri Garib Kalyan Deposit Scheme 2016

Pradhan Mantri Garib Kalyan Deposit Scheme 2016 Notified by Govt w.e.f 17.12.2016

New Taxation Bill to Tax undisclosed Income received assent of President , Notified 15.12.2016

New Tax Rates on undisclosed income in India -Taxation Bill 2016

Key Points -Pradhan Mantri Garib Kalyan Yojana 2016 -Tax on Black money

Lok Sabha Passed Bill to Tax Black Money / Undisclosed Income 29.11.2016

The Taxation Laws (Second Amendment) Bill, 2016 28.11.2016

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016

New Taxation Bill to tax undisclosed income introduced in Lok Sabha by India -PMGKY -Govt Press Release 28.11.2016

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