I-T dept rejects Mumbai family’s `2L-cr disclosure

GUJARAT BUSINESSMAN MAHESH SHAH, WHO HAD EARLIER DECLARED `13,860 CRORE, WAS GRILLED BY TAXMEN BEFORE BEING LET OFF

NEW DELHI: The income-tax department has rejected two sets of declarations of `2 lakh crore and `13,860 crore after an inquiry found that the declarants were “persons of suspicious nature” and “very small means”, the finance ministry said on Sunday.

The declarations were pending for investigations, and were not included in the total value of declarations announced on October 1 under the I-T declaration scheme, the finance ministry tweeted. The government said the declarations could have been misused. “The department has since commenced enquiries against these declarants to determine the intention behind these false declarations,” it said.

The declarations were made under the Income Declaration Scheme, which was announced in the budget under which declaration of undisclosed income or asset could be made by agreeing to pay 45% of the declared amount as tax, surcharge and penalty. The scheme closed on September 30.

“It was announced that declarations totalling `65,250 crore were received from 64,275 declarants, subject to reconciliation. After final reconciliation, the revised figure of actual declarations received and taken on record was `67,382 crores, which had been made by 71,726 declarants.”

A family of four declarants — AbdulRazzaqueMohammedSayed (self), Mohammed Aarif Abdul Razzaque Sayed (son), Rukhsana Abdul Razzaque Sayed (wife) and Noorjahan Mohammed Sayed (sister) — all residents Linking Road, Bandra (W), Mumbai, had filed a total declaration of `2 lakh crore.

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