Tamil Nadu Man Made A Whooping Deposit Of 264 Crores Under The PMGKY Scheme

Under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) Scheme, an undisclosed man in Tamil Nadu has deposited a whopping 264 Cr in his Indian Overseas Bank Account making it the largest of such deposit in the State. The Man is said to be from Tiruchengode in Namakkal district.

According to the PMGKY Scheme, one has to pay 49.9% of the total money as tax and 25% of the money would be retained by the government without any interest

Image Courtesy: dnaindia.com

The I-T department official said that with the PMGKY scheme coming to an end on March 31, the final number of individuals and companies joining the one-time scheme, the total deposits and amount of tax paid would be known only after April 1. “We had traced a few hundred individuals and companies that had made huge deposits. We will release details after April 1,” the official said.