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Thursday , 23 November 2017
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New Income Disclosure Scheme: Deposit In Pradhan Mantri Garib Kalyan Scheme

In a big relief, the government revealed a new Income Disclosure Scheme by which the declarants can deposit money in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 in parts.

The Finance Ministry released a statement in this regard clarifying the doubts related to the scheme.

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016

It said that in consultation with the Reserve  Bank of India, the government has allowed to utilize the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 for the income declaration.

The declarants can make multiple deposits under this scheme.

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 was launched in December for the purpose of income declaration by the current Modi government.
The ministry also clarified that the depositor must have declared the undisclosed income under the Pradhan Mantri Garib Kalyan Yojana, 2016.
The authorized banks will be able to take the deposits till March 31, 2017 which should not be less than twenty five percent of the declared undisclosed income.

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