# The Finance Act, 2016, Section 199F: Deposit of undisclosed income

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/199F/

## Text

Deposit of undisclosed income. 199F. (1) Notwithstanding anything contained in the Income-tax Act or in any other law for the time being in force, the person making a declaration under sub-section (1) of section 199C, shall deposit an amount which shall not be less than twenty-five per cent of the undisclosed income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. (2) The deposit shall bear no interest and the amount deposited shall be allowed to be withdrawn after four years from the date of deposit and shall also fulfil such other conditions as may be specified in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.

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