Circular 12/2017

What this is

Circular 12/2017 was issued by the Central Board of Direct Taxes on 31 March 2017. Its subject is Circular No. 12 of 2017.

This is a clarification. The Board is stating how it reads a provision. That reading binds the department; it does not bind a court, and where the section says otherwise the section wins.

What it does

Allows a declaration in Form No. 1 under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 to be filed up to 10 April 2017, where the declarant had made payment of the tax, surcharge, penalty and deposit under the Scheme in the banks by the closing hours of 31 March 2017. The Scheme had commenced on 17 December 2016 and was open for declarations up to 31 March 2017.

Why it was issued

Stakeholders represented that they could not upload Form No. 1 because the banks had not provided the challan identification number or deposit reference number despite payment having been made, and the Board took account of the rush in banks in the closing days of the financial year, which was also the last date for declaration.

Who it reaches

• Declarants under the Pradhan Mantri Garib Kalyan Yojana who paid by 31 March 2017
• Declarants whose bank had not issued a challan identification number
• Departmental officers processing Form No. 1 declarations

The instrument, as the Board published it

Circular No. 12 of 2017
F.No.370142/33/2016-TPL(Part)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
(TPL Division)
***
Dated: 31st of March, 2017
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib
Kalyan Yojana, 2016
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
(hereinafter 'the Scheme') has commenced on 17.12.2016 and is open for declarations upto
31.03.2017.
2. Representations have been received from various stakeholders regarding difficulties in
uploading of declaration in Form No.1 under the Scheme. Instances have been
communicated wherein despite making payment of tax, surcharge, penalty and deposit under
the Scheme, Challan Identification Number / deposit reference number with respect to the
payment of tax, surcharge, penalty and deposit under the Scheme has not been provided by
the banks. Consequently, the assessees are unable to upload Form No.1.
3. Considering the rush in banks during last days of financial year, which also happens to
be the last date of filing declaration under the Scheme, CBDT has decided that if an assessee
has made payment of tax, surcharge, penalty and deposit under the Scheme, in the banks by
the closing hours of 31st March, 2017, he shall be allowed to file declaration in Form
No.1under the Scheme by the 10th of April, 2017.
(Dr. T. S. Mapwal)
Under Secretary to the Government of India
Copy to:-
1. PS to FM/ OSD to FM/ OSD to MoS(R).
2. PS to Secretary (Revenue).
3. The Chairman, Members and all other officers in CBDT of the rank of Under Secretary
and above.
4. All Pr. Chief Commissioners/ Pr. Director General of Income-tax – with a
request to circulate amongst all officers in their regions/ charges.
5. Pr. DGIT (Systems)/ Pr. DGIT (Vigilance)/ Pr. DGIT (Admn.)/ Pr. DG
(NADT)/ Pr. DGIT (L&R).
6. CIT (M&TP), CBDT.
7. Web manager for posting on the departmental website.

What to watch

• The extension is only of the date for uploading the form; the payment itself had to be made in the bank by the closing hours of 31 March 2017, and that date was not moved.
• Both the payment of tax, surcharge and penalty and the separate deposit under the Scheme had to be made by that date.
• The extended date of 10 April 2017 has passed and the circular is spent.
• Nothing here relaxes any other condition of the Scheme.

Where you meet it

Where a declaration under the Scheme was rejected as filed out of time although the money had gone into the bank on 31 March 2017.

What it names

Forms it names. Form No. 1, Form No. 1UNDE

It mentions. Circular No. 12/2017

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