The government and the RBI today gave time till April 30 for “commensurate deposits” by people who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that allowed parking money in non—interest bearing deposits
for four years.
The extension of time till April 30 has also been given to banks for uploading details into the RBI’s E—Kuber system.
The PMGKY, which opened on December 17, 2016, provided last chance to holders of undisclosed income to come clean by paying tax and penalty. The scheme closed on March 31.
In a press release, the RBI said, “It has now been decided by the Government of India, in case of persons who had filed the declaration by depositing tax, surcharge and penalty under PMGKDS on or before March 31, to allow extension of time till April 30
for banks to upload details into RBI’s E—Kuber system and for depositors to make commensurate deposits, if not already done.” - www.business-standard.com [20-04-2017]