4 days left to disclose income under PMGKY

Our Correspondent

Kangra, March 27

The Income Tax Department today organised an awareness camp for tax payers of this region, mostly businessmen, at Dharamsala today, who were insisted upon to disclose under Pradhan Mantri Garib Kalyan Yojana (PMGKY), which was a last chance to those who had not disclosed their income and the scheme would close on March 31.

NR Kapoor, Additional Commissioner, Income Tax, said the scheme was for cash only and there was no provision for depositing gold. He clarified that one needed to file a single page challan and disclosed cash and deposits. He said the scheme introduced on December 17 last year would be closed on March 31.

He said those who had not used this scheme would have to pay a hefty 107 per cent tax, including cess, after March 31. Kapoor said the camp was organised under a tax-friendly approach of the department, an interface between tax payer and tax man.