According to the Economic Survey 20116 17 there will be fiscal windfall both from the high denominat...........

Economic Affairs Tax System

According to the Economic Survey 20116-17, there will be fiscal windfall both from the high denomination notes that are not returned to the RBI and from the higher tax collections under Pradhan Mantri Garib Kalyan Yojana (PMGKY). What is PMGKY?

It is a Union Government’s Income Disclosure Scheme (IDS) to allow tax evaders to come clean with unaccounted wealth.

It is a union government's scheme to provide pucca homes to the BPL population

It is union government's scheme to ensure financial inclusion

None of the above

छोटे Courses बड़े Results

Master Tax System

Prepare through Micro-courses

Try Now

Explanation:

1st option is correct.
Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) is an amnesty scheme launched by the Narendra Modi led Government of India in December 2016 on the lines of the Income declaration scheme, 2016 (IDS) launched earlier in the year. A part of the Taxation Laws (Second Amendment) Act, 2016, the scheme provides an opportunity to declare unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income.