FinancePMGKY
Pradhan Mantri Garib Kalyan Yojana (PMGKY)
A voluntary declaration scheme for undisclosed income, with part of the funds locked in a welfare deposit.
NOTICE
This service is free. We will never ask for payment. If anyone offers to apply on your behalf for a fee, they are not us.
Learn more →Ready to apply?
Non-monetary
Add to my roadmapBuild a step-by-step plan tailored to your profile
Apply on official portalOpens the official portal · We never charge
Official fee
₹0 — completely free
Filing the declaration is free of cost. Only the statutory 50% tax/penalties and 25% lock-in deposit are required.
Beware of lookalike portals
Watch out for unauthorized consultants demanding advance advisory fees to coordinate confidential declarations. Always declare directly via the official Income Tax portal or authorized banking counters.
Only the "Apply on official portal" button above leads to the verified government site.
Highlights and Media
Key Highlights
Confidentiality Guaranteed
Declarants receive absolute legal immunity and declarations are kept strictly confidential.
Immunity from Prosecution
Avoid wealth tax, interest, and severe prosecution penalties under the Income Tax Act.
Welfare Fund Contribution
Lock-in deposit amounts are utilized directly for public welfare and rural infrastructure projects.
PMGKY Declaration Funds Split
Allocation of the declared undisclosed wealth under the scheme rules
Who is eligible
- Applicant resides within a state covered under the central tax amnesty framework.
Eligibility rules · v1 · effective 16 December 2016
Who is not eligible
- The scheme is open to all domestic declarants across Indian states.
How to apply
File Tax Declaration
Submit Form 1 under the PMGKY rules to the Commissioner of Income Tax.
Typical duration · 2 days
Pay Surcharges and Fines
Deposit the 50% tax, surcharge, and penalty at authorized bank branches.
Typical duration · 1 day
Deposit Lock-in Funds
Invest 25% of the declared amount in the interest-free PMGKY Deposit Scheme.
Typical duration · 2 days
Sources
- Income Tax Department — Ministry of FinanceMINISTRY_PORTAL · Fetched 5 July 2026
Additional Details
Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 is a central government amnesty scheme that provides bank account holders an opportunity to declare undisclosed wealth and black money confidentially to avoid prosecution. Declarants pay a 50% tax, surcharge, and penalty rate on the declared amount, and must invest 25% of the undisclosed income in the interest-free Pradhan Mantri Garib Kalyan Deposit Scheme for a lock-in period of 4 years. The remaining 25% is returned to the declarant.
Related / Stackable schemes
Finance
Voluntary Disclosure of Income Scheme (VDIS)
A historical tax amnesty scheme introduced in 1997 allowing tax defaulters to declare undisclosed income at prevailing tax rates and obtain immunity from prosecution.