People have time till 30 April to make the compulsory deposit of 25% of the previously undisclosed income in the PMGK Deposit Scheme. Photo: Hemant Mishra/MintNew Delhi: The income-tax department on Friday extended the deadline for filing returns under the black money disclosure scheme, Pradhan Mantri Garib Kalyan Yojana (PMGKY), until 10 May. The extra time for filing returns is only for those who have paid taxes and penalty by the 31 March deadline. These people have time till 30 April to make the compulsory deposit of 25% of the previously undisclosed income in the PMGK Deposit Scheme. The tax department subsequently launched a drive to analyse suspicious deposits and identified about 60,000 transactions for detailed probe.

Source: Mint April 21, 2017 18:56 UTC