Pradhan Mantri Garib Kalyan Deposit Scheme Amendment in Clause 5

Pradhan Mantri Garib Kalyan Deposit Scheme Amendment in Clause 5

Central Government amends Pradhan Mantri Garib Kalyan Deposit Scheme through a Notification. 

In exercise of the powers conferred by clause (c) of Section 199B of the Finance Act, 2016 (28 of 2016), the Central Government has amended through a Notification the conditions specified in clause 5 of the Pradhan Mantri Garib Kalyan Deposit Scheme. 

Following is the amended Clause 5: 

Now the effective date of opening of the Bonds Ledger Account shall be the date of receipt of deposits by the Reserve Bank of India (RBI) from the authorized banks; wherein the due tax, surcharge and penalty has been received till 31st March, 2017; Provided further that the date of deposit shall in no case be extended beyond 30th April, 2017. 

Source:PIBNEWS