News Update

Govt clarifies on LTC entitlement for Govt employeesCCEA gives nod for handing over Jaipur & Mysore units of ITDC to State Govts & disinvestment in Donyi Polo Ashok HotelFM says Govt mulling over additional booster dose for economyFar-reaching Amendments made in Chapter-4 of Hand Book of Procedures 2015-2020I-T - No tax liability arises if there is diversion of income at source itself, by overriding title: HCCabinet approves Revamp of Khelo India Programme (See 'TOG News' in 'Taxongo.com')Cabinet approves Dentists (Amendment) Bill, 2017 (See 'TOG News' in 'Taxongo.com')Cabinet okays modernisation of Govt Presses by redeveloping 468 acres of their landCabinet approves extension of time period of Special Industry Initiative for J&KCabinet takes note of achievements of National Health MissionUnion Cabinet decides to merge 17 Govt printing presses to 5 units + nod for revamp of 'Khelo India' for promotion of sportsI-T - When amended provisions of Sec 245HA(3) mandate access to Revenue to all materials furnished by assessee before SETCOM, even HC cannot prevent Revenue from doing so: Gujarat HCM S Dhoni nominated for Padma Bhushan by BCCIGST Council prepones next meeting to Oct 6 from Oct 24Sale of Old & Scrap buses - whether leviable to 28% GST or 18% GST as Ferrous scrap - Petitions premature, dismissed: HCI-T - When basic objective of Mutual Benefit Company is to take deposit & lend loans to its members, mere fact that some members were also holding positions in Company & loans were given to sister company, it does not call for invoking doctrine of ‘piercing of veil’: HCDGFT - RITES is GOI Enterprise and not a hapless individual, who can be taken advantage of; cannot canvas that it had made payments under duress: HCFirst 'Pension Adalat' to be inaugurated todayIGST on Ocean FreightI-T - Interest income earned by co-operative society from keeping surplus funds in banks, will not qualify for deduction u/s 80P: ITATST – VCES, 2013 application could not have been rejected without following the principles of natural justice: High CourtRail Safety Commissioner puts blame on ‘Staff’ for Puri-Haridwar Utkal Express accidentGST - Exporters' organisations meet Revenue Secretary; urge for quick refundCBI nabs private person for accepting bribe of Rs 20 lakh on behalf of Mundra Customs Dy CommissionerKolkata DRI busts gold syndicate operating through Bangladesh border; seizes gold worth Rs 1.21 CroreCBDT proposes to amend Rules and prescribe new Form for advance reporting of advance tax estimates
 
PM Garib Kalyan Deposit scheme: April 30, 2017 fixed as deadline for making deposit

By TIOL News Service

NEW DELHI , APRIL 20, 2017: THE Government has, in exercise of the powers conferred by clause (c) of Section 199B of the Finance Act, 2016, amended through a notification the conditions specified in clause 5 of the Pradhan Mantri Garib Kalyan Deposit Scheme.

It has now been decided by the Government of India, in case of persons who had filed the declaration by depositing tax, surcharge and penalty under PMGKDS on or before March 31, 2017, to allow extension of time till April 30, 2017 for banks to upload details into RBI's E-Kuber system and for depositors to make commensurate deposits, if not already done.

The date of deposit and uploading would not be extended beyond April 30, 2017.

It may also be noted that, the effective date of opening of the Bond Ledger Account shall be the date of receipt of deposits by the Reserve Bank of India (RBI) from the authorized banks. Paragraph 5 of the original notification No. S.O. 4061 (E) dated December 16, 2016, stands amended to this effect.

The Government of India, in consultation with the RBI, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide notification no. S.O. 4061 (E) dated December 16, 2016. The deposit under this scheme shall be made by any person who declared undisclosed income under Pradhan Mantri Garib Kalyan Yojana, 2016.

 


POST YOUR COMMENTS
   

TIOL Tube Latest

GST: एक देश एक कर | गोष्ठी - संस्करण ३