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 looking for the PMGKY Form 1 User Manual in PDF format, then you have come to the right place! You can easily download this PDF from the official website www.incometaxindiaefiling.gov.in or use the link at the bottom of this page to download it directly.

About PMGKY and Its Importance

Pradhan Mantri Garib Kalyan Yojana (PMGKY) provides a platform for individuals to declare their income in the form of cash or bank deposits. However, it’s essential to note that this scheme does not allow declarations for jewelry, stocks, immovable property, or deposits in overseas accounts.

PM Garib Kalyan Yojana Form 1 – User Manual

Firstly, the declarant must fill out Challan-ITNS-287 to pay Taxes, Surcharge, and Penalty to the government.
After paying the required Taxes, Surcharge, and Penalty, at least 25% of the Undisclosed Income must be deposited in the Bonds Ledger Account, specifically under PMGKDS, 2016 in Form II.
Once the payments are made, the declarant has to complete Form-1 along with two important attachments: Proof of Payment of Total Taxes and Proof of Deposit in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.
The declaration of income must be detailed in Form-1, specifying the form of cash or deposit made in an account maintained with a specified entity under subsection (1) of section 199C.

The declaration should be submitted to the Principal Commissioner or the Commissioner as required under sub-section (1) of section 199G using one of the following methods: