Only cash, deposits can be declared under PMGKY

Undisclosed income in assets such as jewellery, stock or immovable property or in foreign bank accounts will not be accepted under the Pradhan Mantri Garib Kalyan Yojana (PMGKY).The Central Board of Direct Taxes on stated that only undisclosed income in domestic bank accounts, post offices or stashed elsewhere will be accepted under the scheme.Only income represented in the form of cash or deposit in an account maintained with specified entity can be declared. 

So, let’s discuss some questions related to this post:
Q1. What is the full form of PMGKY?
Ans1. Pradhan Mantri Garib Kalyan Yojna

Source-The Hindu


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