Circular No. 9/2017

Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

What this is

Circular No. 9/2017 was issued by the Central Board of Direct Taxes on 14 March 2017. Its subject is Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016.

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.

The instrument itself

The text, read by machine from the scan

This is not the department’s typed text. The department published this one as a scanned image of a signed paper, so there is no text in the file to copy. What follows was read off that image by optical character recognition and is reproduced without correction — the mistakes you can see are the machine’s, and there may be others you cannot. It is here so the document can be found and read; it is not a substitute for the file, which is linked below. Do not quote from this page.

Circular No. 9 of 2017
F.No.142/33/2016-TPL(Part)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes (TPL Division)
Dated: 14th 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. Vide CBDT Circular No. 2 of 2017 dated 18' January
2017, certain clarifications were issued on the Scheme.
2: Subsequent to issuance of the said circular, representations have been received from various stakeholders seeking clarification as to whether the deposits made in bank account or cash in hand which are eligible for being declared under the Scheme should exist on the date of filing of declaration under the Scheme.
3: In this context, it is clarified that where the undisclosed income is represented in the form of deposits in an account maintained with a specified entity, it is not necessary that the said deposits should exist on the date of making payments under the Scheme or furnishing a declaration under the Scheme. However, where the undisclosed income is represented in the form of cash, it is clarified that such cash should exist on the date of making payment of tax, surcharge and penalty under the
Scheme or on the date of making deposit under the Pradhan Mantri Garib Kalyan
Deposit Scheme, 2016, whichever is earlier. eS
RUS A a (R. Lakshmi Raevaied
Under Secretary to the Government of India
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.

Source: the department’s scanned file.

← Circular No. 10/2017 · Circular No. 8/2017 →

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.