A Mumbai family's declaration of Rs 2 lakh crore has been rejected by the Income Tax department and a probe on the issue has been initiated.
The family of four -- Abdul Razzaque Mohammed Sayed, his son Mohammed Aarif Abdul Razzaque Sayed, wife Rukhsana Abdul Razzaque Sayed and sister Noorjahan Mohammed Sayed, are residents of Bandra.
The Union finance ministry said the declarations were rejected as these were “suspicious in nature, being filed by persons of small means”.
Their declaration of Rs 2 lakh crore was nearly three times the size of the IDS mop-up estimated by the government.The tax department said it was probing the false declaration.
According to the income tax department, the family’s case was rejected because three of the four PAN numbers were originally in Ajmer, which were migrated in September 2016 to Mumbai, the place of declaration.
Rs 2 lakh crore declaration looked suspicious from the word go as basic details such as the mobile number could not be verified, sources told Times of India.
What raised suspicions further were allegations that the disclosure was being used to launder money post-demonetisation and "convert black money into white", the source added.
The government also said that the IT department had also rejected another declaration of Rs 13,680 crore by one Mahesh Kumar Champaklal Shah from Ahmedabad.
Shah had gone missing after making the declaration, only to surface on Saturday. Shah had threatened to disclose the names of politicians and businessmen for whom he said he was acting as a front.
In a statement, the I-T department said the two declarations had not been included in its IDS calculations.
Meanwhile, the government has revised upwards the total illicit wealth disclosed in the one-time window to Rs 67,382 crore as against Rs 65,250 crore estimated earlier.
Among the declarations received, there were two sets of declarations of high value which were not taken on record in the above figure because these declarations were found to be suspicious in nature being filed by persons of small means," the Finance Ministry said in a statement Sunday
On October 1, it was announced that declarations totaling Rs 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 Rs 67,382 crore which had been made by 71,726 declarants.The revised figure will fetch government a little over Rs 30,000 crore direct tax revenue.
