On the date of maturity, the proceeds will be credited to the bank account as per the details on record. In what form will the deposits under this scheme be held? This will be locked for four years. Thus, the developments in rural India will connect it to latest developments of urban India and make advancement in health, education, IT more reachable to them. The deposit amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc. Which are the authorized agencies where the application and amount of deposit will be accepted? This shows that government is serious about tackling black money and is providing people opportunity to disclose it with minimum punishment.
Pradhan Mantri Garib Kalyan Yojana was launched in April , aims to improve the living standard of the poor people especially those who are BPL through concrete government initiatives. Checkout some important links: The deposit by a declarant shall not be less than twenty-five per cent of the undisclosed income declared under sub-section 1 of section C of the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, For this, the existing Pradhan Mantri Garib Kalyan Yojana will be modified as an antipoverty and development programme. Financial inclusion or inclusive financing is the pmgky of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those pmgky are not available or affordable. After making the deposit, will any documentary evidence be issued? Learn everyday with Experts!!
Yes, deposit may be made in combination of more than one means of payment, at a single time. It has two components omgky for disclosing persons and the other one for non-disclosing and caught with undisclosed income.
Various money laundering activities were observed during the initial period of demonetisation. On receipt of PAN, the details may be updated with the bank from which application was made. How will the declarant get the redemption amount? Subsequently a Certificate of Holding for the BLA will be issued which may be collected from the Authorized Banks through which the deposit was made.
All the Indian citizens between visit web page of age ob to avail the scheme.
Will any interest be paid on the deposit under the scheme? Best viewed in x resolution in IE 5 and above. The census says that 6. But, nowhere a person honestly paying taxes should feel that he is not in an advantageous position by paying regular taxes.
The citizens should consider paying taxes as their fundamental duty and be a part of developing India and reduce gap between urban essqy rural India. Who will provide other services to the declarants after deposit in the scheme? No, the Bond Ledger Accounts are not tradable. They all are being monitored under IT scanner.
All India Radio – PM Garib Kalyan Yojana, 2016
Can the deposit be made partly by cash and partly by cheque or other means? What is Robot tax?
Pradhan Mantri Garib Kalyan Yojana was launched in Aprilaims to improve the living standard of the poor people especially those who are BPL through concrete government initiatives. Updated as on February 28, 1.
Pradhan Mantri Garib Kalyan Yojana – Wikipedia
The modified scheme with a period from December 17 to March 31st was announced on December 16th. Which are the authorized agencies where the application and amount of deposit will be accepted?
This shows that government is serious about tackling black money and is providing people opportunity to disclose it with minimum punishment. The money collected under PMGKY will be invested in rural infrastructure including roads, electricity etc.
This will be locked for four years. A nomination form is available along with Application form. It is said that since essay services are in the nature of public product, the availability of banking and payment services to the entire population without discrimination is the prime objective of financial inclusion in public policy. Transferability of the Bond Ledger Account shall be limited to nominee or to the legal heir of an individual holder, only in the event of death of the declarant.
No, option for premature redemption of the BLA is not available. On the date of maturity, the proceeds will be credited to the bank account as per the details on record. Along with this cess, tax, and penalties on undisclosed income or black income stored in banks follwing demonetization is a major action taken by the Government to tackle black money.
If a declarant does not hold PAN, he shall apply for PAN and provide the details of such PAN application along with acknowledgement number to the bank while making the application. The flaming fields of Punjab. The deposit amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc.
The banks through which the deposit into this scheme was made will provide other customer services such as change of bank account details, cancellation of nominee etc. It is for the first time in 70years that government has thought of putting tax structure for rural development. They also add additional revenues to the government in a fiscal year.
Application and amount for the deposit in the form of Bond Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 10 of applies Authorised Banks.