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The taxation and investment regime for Pradhana Mantri Garib Kalyan Yojana 2016órepresentations under the Scheme pertaining to challan corrections and conversion, etc.óreg.

Income Tax - F. No. 225/231/2017-ITA-II - Dated:- 27-9-2017 - [F. No. 225/231/2017-ITA-II] C. B. D. T. Circulars/Orders Order Dated 27-09-2017 Order under section 119 of the Income-tax Act, 1961 Subject : The taxation and investment regime for Pradhana Mantri Garib Kalyan Yojana 2016-representations under the Scheme pertaining to challan corrections and conversion, etc.-reg. Petitions have been received in CBDT from the declarants under the Pradhan Mantri Garib Kalyan Yojana Scheme, 2016 ( PMGKY .....

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hed Board for providing appropriate relief in such cases under section 119 of the Income-tax Act, 1961 ( Act ). 2. Under PMGKY, the declarants were required to effect payment of tax, surcharge and penalty by 31st March, 2017 and file the declaration in Form1. The last date for making deposit under PMGKD was also extended by Department of Economic Affairs ( DEA ) vide Notification No. S.O. 1218(E), dated April 19, 2017 till 30th April, 2017 in respect of cases where payments under PMGKY was made .....

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GKY/PMGKD can be classified under the following broad categories- (i) Instances where the declarants although paid the tax, surcharge and penalty under PMGKY by 31st March, 2017 but were not able to make the 25 per cent. compulsory deposit under PMGKD on the ground that the banks could not accept the deposits due to last day rush or technical difficulties, etc. For such cases, DEA had already extended the date of making deposit under PMGKD by 30th April, 2017 (in respect of cases where tax, surc .....

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in such cases also. (iii) Cases have been reported where the declarants have used single challan No. 287 (Challan for PMGKY) for making payment of taxes as well as deposits under PMGKD instead of separately making 25 per cent. compulsory deposit under PMGKD Scheme with the specified banks. Since the declarants did not made the PMGKD deposit separately as required under the Scheme within the specified due date, they became ineligible to file declaration under the Scheme. Therefore, no relief can .....

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challans. Thus despite abiding by the prescribed time limit and making all the payments/deposits within that period, they are deprived from availing of the benefit of PMGKY Scheme merely because of use of wrong challan or making certain incorrect entries therein. It has been represented that merely due to procedural defaults, they have been caused to remain outside the ambit of PMGKY causing them great and genuine hardship and a request has been made to provide some functionality so that they a .....

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tating the corrections in such challans technically through Systems and allowing the declarants to file Form 1 after making the corrections within a specified time limit so that their declaration gets regularized under PMGKY. However, where there is anomaly in PMGKD payment as well, the relaxation shall not be applicable for the reasons already stated above. The modalities for correction of PMGKY challans is mentioned in paragraph below. 5. For facilitating correction of challans in respect of P .....

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nge of Minor Head from (100), (300), (400) or (111) to ((112) in ITNS 287, PMGKY challan). The correction would not apply to correction of challans in a vice-versa manner, i.e., challan for PMGKY sought to be used for the purposes of making payments towards advance tax, self-assessment tax and regular-assessment tax. 6. Several representations have also been received requesting for correction of challan which was erroneously used for PMGKY payment whereas the same was for the purpose of payment .....

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