Circular 14/2017

Circular No.14 of 2017

What this is

Circular 14/2017 was issued by the Central Board of Direct Taxes on 21 April 2017. Its subject is Circular No.14 of 2017.

This is an extension of time. It moves a date that the Act or the Rules otherwise fix, and it does so only for the compliance and the period it names — not for anything else that happens to fall due at the same time.

What it does

Gives a second extension for filing the declaration in Form No. 1 under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. Where the tax, surcharge and penalty were received on or before 31 March 2017 and the deposit in the Bond Ledger Account under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 was received on or before 30 April 2017, the declaration may be filed by 10 May 2017. This builds on Circular No. 12 dated 31 March 2017, which had allowed filing till 10 April 2017 where tax, surcharge, penalty and deposit had all been received by 31 March 2017, and follows the Department of Economic Affairs notification S.O.1218(E) dated 19 April 2017 extending the deposit date to 30 April 2017.

Why it was issued

Representations were received that in some cases the tax, surcharge and penalty had been paid by 31 March 2017 but the corresponding deposit under the Deposit Scheme could not be made by that date.

Who it reaches

Declarants under the Pradhan Mantri Garib Kalyan Yojana, 2016 who paid tax by 31 March 2017
Declarants whose Bond Ledger Account deposit slipped past 31 March 2017
Banks receiving deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

Circular No.14 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: 21st April, 2017

Extension of time for filing declaration under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) had commenced on 17.12.2016 and was open for declarations upto 31.03.2017. Considering the representations received from stakeholder, CBDT, vide Circular No.12 dated 31st March, 2017, extended the date for filing of declaration in Form No.1 till 10th of April, 2017, in cases where due tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) had been received till 31st March, 2017.

2. Subsequently, representations were received from stakeholders stating that in some cases tax, surcharge and penalty have been paid on or before 31.03.2017 but the corresponding deposit under the Deposit Scheme could not be made by the said date.

3. Accordingly, Department of Economic Affairs vide notification S.O.1218(E) dated April 19, 2017, has extended the date of making deposit under the Deposit Scheme till 30th April, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before 31.03.2017.

4. In view of the above, CBDT has decided that if due tax, surcharge and penalty under PMGKY, has been received on or before the 31st March, 2017, and deposit in the Bond Ledger Account under the Deposit Scheme has been received on or before the 30th April, 2017, the declaration in Form No.1 under PMGKY can be filed by 10th May, 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

Both conditions must hold together: tax, surcharge and penalty by 31 March 2017 and the deposit by 30 April 2017 - meeting only one does not buy the 10 May 2017 date.
The scheme itself commenced on 17 December 2016 and was open for declarations only up to 31 March 2017; this circular extends the filing of the form, not the scheme.
Every date fixed here has passed and the scheme is closed, so the circular now matters only in testing a declaration actually filed by 10 May 2017.

Where you meet it

Where a declaration under the scheme filed in early May 2017 is treated as invalid for being out of time, or where the deposit date is questioned.

What it names

Forms it names. Form No. 1

It mentions. Circular No. 14/2017

A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.

Source: the Income Tax Department’s own published text — its page for this instrument.