Date For Filing Return Under PMGKY Extended Until May 10

Posted By: Roshni
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The date for filing return under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme for black money holders has been extended until May 10. The extension has been made only for those who have made the tax payment as well as penalty charged by 31st March.

Date For Filing Return Under PMGKY Extended Until May 10

As quoted in the PTI report, "The CBDT has extended the date of filing of declaration under the PMGKY to May 10 in cases where tax, surcharge and penalty has been paid on or before March 31 and deposit under the Deposit Scheme has been made on or before April 30."

The individuals conforming to the above criteria need to make the mandated deposit amounting to 25% of the previously undisclosed income under the PMGK scheme until 30th April. The original deadline for this mandated deposit was 31st March.

After uploading scanned copy of payment of tax as well as deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016, individuals can make the declaration online in Form 1. The form reflects the amount in cash or deposit with a bank or post office.

Upon making the declaration, an acknowledgement shall be issued to the declarant by the CBDT. PMGKY introduced on December 17, 2016 provided a platform to black money holders to account for their money by payment of tax as well as penalty.

Read more about: pmgky, cbdt
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