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Pradhan Mantri Garib Kalyan Yojana comes into effect

The Pradhan Mantri Garib Kalyan Yojana (PMGKY) notified along with other provisions of Taxation Laws (Second Amendment) Act, 2016 came into effect from 17 December 2016. It will remain open until March 31, 2017.

PMGKY is Union Government’s second income disclosure scheme (IDS) to allow tax evaders to come clean with unaccounted wealth. It provides for 50 per cent tax and surcharge on declarations of unaccounted cash deposited in banks.

Salient features of Scheme
  • Declaration under it can be made by any person in respect of undisclosed income in the form of cash or deposits in an account with bank or post office or specified entity.
  • Declarant of undisclosed income needs to pay 30% tax, 10% penalty and 33% Pradhan Mantri Garib Kalyan pradhan-mantri-garib-kalyan-yojanaCess on the tax, all of which add up to around 50%.
  • Besides, declarant must make mandatory deposit of 25% of undisclosed income in the zero-interest Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 with lock-in period of 4 years.
  • The income declared under it will not be included in the total income of the declarant under the Income-tax (IT) Act for any assessment year.
  • Besides, declarations made under it will be kept confidential and shall not be admissible as evidence under any Act (ex. Wealth-tax Act, Central Excise Act, Companies Act etc.).
  • However, declarant will have no immunity under Criminal Acts mentioned in section 199-O of the Scheme.
  • Non declaration of undisclosed cash or deposit in accounts under this Scheme will render tax, surcharge and cess totalling to 77.25% of such income, if declared in the return of income.
  • In case the same is not shown in the return of income a further penalty @10% of tax shall also be levied followed by prosecution.
Comment

The money or revenue generated from disclosure of unaccounted cash will be used for welfare schemes for the poor. It will be mainly used for projects in irrigation, infrastructure, primary education, primary health, housing, toilets and livelihood so that there is justice and equality.

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Rajasthan Government launches Annapurna Rasoi Scheme

Rajasthan Government has launched Annapurna Rasoi Scheme to provide quality meal at cheap price to poor and needy on lines with Tamil Nadu Government’s Amma canteens.

It was launched by Chief Minister Vasundhara Raje at Jaipur Municipal Corporation campus. The tagline for the scheme is: “Sabke liye bhojan, sabke liye sammaan (Food for all, respect for all)”.

Key Facts
  • The food under this scheme will be provided at subsidized rates, breakfast at Rs 5 per plate and lunch/dinner at Rs 8 per plate.
  • Local Self Government department of Rajasthan is the nodal agency for the scheme. The meals will be cooked and served by staff trained in hospitality.
  • It will be distributed by 80 mobile vans at locations decided by local self-help agencies in districts.
  • The main beneficiary of the scheme will be rickshaw pullers, labourers, auto drivers, students, working women, elders and other weaker section.
  • In the first phase the scheme will be started in 12 districts. They are Jaipur, Udaipur, Jodhpur, Ajmer, Bharatpur, Bikaner, Pratapgarh, Kota, Banswara, Dungarpur, Baran and Jhalawar. The remaining 21 districts of state will be covered in second phase.

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e-Tourist visa extended to citizens of 161 countries: Government

The Union Government has extended the facility of e-Tourist Visa (e-TV) Scheme for citizens of 161 countries. It was announced by Tourism Minister Mahesh Sharma in a written reply to Rajya Sabha.

The reply also mentioned that number of foreign tourist arrivals on e-TV during January to November 2016 was 9,17,446. This period registered a growth of 168.5% over same period of previous year. This indicates success of the e-TV Scheme.

About E-Tourist Visa Scheme

  • Union Government had launched e-Tourist Visa Scheme (as Tourist Visa on Arrival scheme) on November 27, 2014.
  • The scheme facilitates pre-authorization of Visa i.e. electronic travel authorisation is given to foreigners prior to travel after applicant registers for visa online.
  • After registration applicant receives an email authorising him or her to travel to India after it has been approved. The tourist can travel with a print-out of this authorisation.
  • The scheme aims to tap the vast tourism potential of India which still remains untapped and explored.

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