Dear Professional Friends, One of my client, disclosed Income Under PMGKY Scheme (IDS scheme) & filed Form-1 accordingly, by paying the taxes @ 49.9% and also deposited 25% of the disclosed income in nationalized bank, now the lock in period of 4 years completed for deposit, how can he encash the amount from the matured deposit?
he has shown "form-1 & deposit receipt" both to the concerned bank officers & jurisdictional assessing officers, but both expressed their inability to guide me.
Professional Experts are requested to guide to encash the deposit.
Thanks in advance.
CA Satish
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How to encash 25% deposit made in Banks under PMGKY Scheme, 2016?
Replies (1)
below link of RBI gives details of the deposit under the scheme
https://m.rbi.org.in/SCRIPTs/FAQView.aspx?Id=121
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