This scheme came into force from 16 December 2016.
29 Nov 2016 – Lokh sabha accepted this scheme.
15 December 2016 – President accepted this.
Last date of this scheme – 31 March 2017.
Objective: Those who are having black money
A. can make it white by paying 50% tax (30% tax, 33%
Sur charge and 10% Penalty)and
B. They should deposit their 25% of their money with
banks without expecting interest.
This scheme is a part of PMGKY.
The details of the tax payers are kept secret and they
dont attract any Central Excise Tax, Income Tax and Company
tax. Only money earned through criminal practices attracts