Old Bank Notes can be used for Payment of Tax under Pradhan Mantri Garib Kalyan Yojana upto 30-12-16; Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency allowed till 30th December, 2016.
The Central Government has decided that up to 30.12.2016, the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), can be made in Old Bank Notes of Rs. 500 and Rs.1,000 denomination issued by the RBI.
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 has commenced on 17th December, 2016 and is open for declarations upto 31st March, 2017. The payment of tax, surcharge and penalty under the Scheme is to be made through challan ITNS- 287 and the deposits are to be made in the Pradhan Mantri Garib Kalyan Deposit Scheme,2016. The notifications relating to PMGKY are available on the website www.incometaxindia.gov.in .