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Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 has commenced on 17th December, 2016 and is open for declarations up to 31st March, 2017.

The payment of tax, surcharge and penalty under the Scheme is to be made through challan ITNS- 287 and the deposits are to be made in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. The notifications relating to PMGKY are available on the website www.incometaxindia.gov.in .

In this context, it is stated that up to 30.12.2016 the payment towards tax, surcharge, penalty and deposit under the PMGKY can be made in old Bank Notes of Rupees 500 and Rupees 1000 denomination issued by the RBI.

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