Tax Payments and Deposits under PMGKY using old currency till 31 Dec. 2016: CBDT

Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency Notes of Rs. 500 and Rs. 1000 till 31 Dec. 2016: CBDT

CBDT had notified earlier that the ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016’ has commenced on 17 Dec. 2016 and shall remain open till for declarations till 31 Mar. 2017.

Now CBDT has advised that the payment of tax, surcharge and penalty under the PMGKY Scheme 2016 can be made using challan ITNS- 287 and the deposits are to be made in ‘Pradhan Mantri Garib Kalyan Deposit (PMGKD) Scheme, 2016. Further, it has clarified that demonetized currency of Rs. 500/ 1000 can be used for these purposes till 31 Dec. 2016.

CBDT Press Release dt. 22 Dec. 2016

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