Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) (or, Prime Minister's Poor welfare scheme) is an amnesty scheme launched by the Narendra Modi led Government of India in December 2016 on the lines of the Income declaration scheme, 2016 (IDS) launched earlier in the year. As part of the Taxation Laws (Second Amendment) Act, 2016, the scheme provides an opportunity to declare unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income. An additional 25% of the undisclosed income is invested in the scheme which can be refunded after four years, without any interest. Valid from December 16, 2016 to March 31, 2017, the scheme can only be availed to declare income in the form of cash or bank deposits in Indian bank accounts and not in the form of jewellery, stock, immovable property, or deposits in overseas accounts.
Which type of risk is associated with internal procedures, people, and systems within a company?
For the Namo drone Didi Yojana, how many rupees have been approved by the Indian government?
Which state recently celebrated Hul Kranti Diwas on June 30th to commemorate the 1855 independence movement led by tribal heroes?
What was the net Foreign Direct Investment (FDI) in India for the first quarter of the financial year 2023-24 (April-June), compared to the same period ...
Scientists recently discovered a rare vampire squid, the second known living species, in the deep waters off Hainan Island. This island is associated wi...
Recently, information about blood clotting and low platelet count has been associated with which COVID-19 vaccine?
C onsider the following statements with reference to the Powers of Governor of a State:
1. Recently Supreme Court expressed concern over Govern...
Which minister is in charge of Heavy Industries?
Which of the following Indian states conducted a survey of the Nilgiri Tahr?
Which state recently launched the CM-SATH scheme to support the educational advancement of its brightest students?