Pradhan Mantri Garib Kalyan Yojana comes into effect

The Pradhan Mantri Garib Kalyan Yojana (PMGKY) comes into effect from 17 December 2016. Any unaccounted cash or deposit in a bank account can be disclosed under the scheme before April 1, 2017. The PMKGY provides for 50% tax and surcharge on declarations of unaccounted cash deposited in banks. 

Source-The Hindu


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