Pradhan Mantri Garib Kalyan Yojana

Not to be confused with Pradhan Mantri Garib Kalyan Yojana, 2020.

Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) (English, Prime Minister's Poor welfare scheme) is a scheme launched by the Narendra Modi led Government of India in December 2016 on the lines of the Income declaration scheme, 2016 (IDS) launched earlier in the year. A part of the Taxation Laws (Second Amendment) Act, 2016, the scheme provides an opportunity to declare unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income. An additional 25% of the undisclosed income is invested in the scheme which can be refunded after four years, without any interest.

Valid from 16 December 2016 to 31 March 2017, the scheme can only be availed to declare income in the form of cash or bank deposits in Indian bank accounts and not in the form of jewellery, stock, immovable property, or deposits in overseas accounts.

Not declaring undisclosed income under the PMGKY will attract a fine of 77.25% if the income is shown in tax returns. In case the income is not shown in tax returns, it will attract a further 10% penalty followed by prosecution.

References

"Government announces new income declaration scheme 'PM Garib Kalyan Yojana'; stringent penalties prescribed". The Economic Times. Retrieved 19 January 2017.
"New income disclosure scheme: Do or die for black money holders". www.moneycontrol.com. Retrieved 19 January 2017.
"PM Garib Kalyan Yojana providing chance to turn black money into white begins today | Latest News & Updates at Daily News & Analysis". dna. 17 December 2016. Retrieved 19 January 2017.
"No stocks, property disclosure under new black money scheme". www.moneycontrol.com. Retrieved 19 January 2017.
^ "Foreign accounts, property, bullion can't be disclosed under Pradhan Mantri Garib Kalyan Yojana Scheme: Govt". Zee Business. 18 January 2017. Retrieved 19 January 2017.

v t e Taxation in India
Taxes	Central Excise Duty Goods and Services Tax Income tax in India Securities Transaction Tax Service tax Value-added taxation
Bodies	CBDT Chairperson, Central Board of Direct Taxes Investigation Division of the Central Board of Direct Taxes Central Board of Excise and Customs Chairperson Central Board of Excise & Customs Income Tax Department Central Economic Intelligence Bureau Directorate of Revenue Intelligence Tax Administration Reform Commission
Legislations	Benami Transactions (Prohibition) Act, 1988 Expenditure Tax Act, 1987 Finance Act (India) Gift Tax Act, 1958 Interest Tax Act, 1974 The Income-tax Act, 1961 Wealth Tax Act, 1957
Schemes	Income declaration scheme, 2016 Pradhan Mantri Garib Kalyan Yojana Voluntary Disclosure of Income Scheme
Compliance	Income Tax Returns ITR-2 SUGAM ITR-4S Indian tax forms Tax Collected at Source Tax Deducted at Source Tax Deduction and Collection Account Number
Notable cases	Cairn Energy and Government of India dispute

v t e Government schemes in India
List of schemes Welfare schemes for women Poverty alleviation programmes Subsidies Social security Food security
Active
Schemes	Antyodaya Anna Atal Pension Ayushman Bharat Beti Bachao, Beti Padhao Deen Dayal Upadhyaya Antyodaya Deen Dayal Upadhyaya Grameen Kaushalya Deen Dayal Upadhyaya Gram Jyoti Direct Benefit Transfer DigiLocker Garib Kalyan Rojgar Abhiyaan Heritage City Development and Augmentation Integrated Child Development Services Income declaration JAM Yojana Khelo India Pravasi Suraksha Midday Meal Scheme Local Area Development National Infrastructure Pipeline National Pension System National Social Assistance Scheme National Service Scheme Post Office Passport Farmer Income Protection Scheme (PM AASHA) Adarsh Gram Gramin Awaas Awas Digital Health Mission Gram Sadak Jan Dhan Krishi Sinchai Matsya Sampada Matritva Vandana Shram Yogi Mandhan Ujjwala Bhartiya Jan Aushadhi Garib Kalyan Garib Kalyan Anna Yojana Jeevan Jyoti Bima Kisan Samman Nidhi Suraksha Bima Sansad Adarsh Gram Saubhagya Soil Health Card UDAN Ujwal DISCOM Assurance Unnat Jeevan
Missions	Rejuvenation and Urban Transformation Indradhanush Education Climate Resilient Agriculture Manuscripts Health Anganwadi Auxiliary nurse midwife Accredited Social Health Activist Solar Translation Providing Urban Amenities to Rural Areas Rashtriya Madhyamik Shiksha Abhiyan Rashtriya Uchchatar Shiksha Abhiyan Remunerative Approach for Agriculture and Allied sector Rejuvenation Sarva Shiksha Abhiyan Smart Cities Mission TB-Mission 2020
Projects	Agriculture MMP Bharatmala Indian Rivers Inter-link Operation Flood Sagar Mala project Setu Bharatam Urja Ganga Gas Pipeline Project
Campaigns	Accessible India Campaign Digital India Make in India Skill India Standup India Startup India Swachh Bharat Mission
Identity	Aadhaar Business identification Passport Permanent account Ration card Unorganised Workers Voters
State	AP Annadatha Sukhibhava TG Mission Bhagiratha T App Folio GJ Jyotigram Vibrant Gujarat MP Global Investors Summit Ladli Laxmi MH Mahatma Jyotiba Phule Jan Arogya Magnetic Maharashtra OR Ahar Biju Krushak Kalyan Madhu Babu Pension RJ Bhamashah UP Global Investors Summit TN Global Investors Meet
Closed/subsumed
Schemes	Bharat Nirman National Urban Renewal Kasturba Gandhi Balika Vidyalaya Kishore Vaigyanik Protsahan Rural Livelihood Finance Development Fund Rashtriya Swasthya Bima Tuberculosis Control Sampoorna Grameen Rozgar Voluntary Disclosure of Income

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Pradhan Mantri Garib Kalyan Yojana

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References