PMGKY Form 1 User Manual PDF

PDF Name	PMGKY Form 1 User Manual
No. of Pages	13
PDF Size	0.60 MB
Language	English
Tags	Sarkari Yojana
PDF Category	Government
Source / Credits	web.archive.org
Uploaded By	Pradeep

PMGKY Form 1 User Manual - Summary

If you are searching for the PMGKY Form 1 User Manual, you’re in the right spot! You can easily download this user manual in PDF format from the official website www.incometaxindiaefiling.gov.in or directly use the link at the bottom of this page to download it hassle-free.

Understanding PMGKY and Its Significance

Pradhan Mantri Garib Kalyan Yojana (PMGKY) offers a secure platform for individuals to declare their income, whether in cash or bank deposits. It’s important to remember that this scheme does not permit declarations for jewelry, stocks, real estate, or deposits made in overseas accounts.

How to Use PM Garib Kalyan Yojana Form 1

First, the declarant needs to complete Challan-ITNS-287 to pay the Taxes, Surcharge, and Penalty owed to the government.
After settling the necessary Taxes, Surcharge, and Penalty, at least 25% of the Undisclosed Income should be deposited into the Bonds Ledger Account, specifically under PMGKDS, 2016 in Form II.
Once the payments are successfully made, the declarant must fill out Form-1 along with two key attachments: Proof of Payment of Total Taxes and Proof of Deposit in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.
The declaration of income should be clearly detailed in Form-1, indicating the form of cash or deposit placed in an account held with a designated entity under subsection (1) of section 199C.

The submission of the declaration should be made to the Principal Commissioner or the Commissioner as outlined under sub-section (1) of section 199G using one of these methods: