I-T department rejects two pre-demonetisation declarations of Rs 2 lakh crore, Rs 13,860 crore
The Finance Ministry said that an enquiry has been launched against these declarants.
The Finance Ministry on Sunday said the Income Tax Department has rejected two sets of declarations, one of Rs 2 lakh crore and another amounting to Rs 13,860 crore, stating that the declarants were “persons of suspicion nature” and “very small means”. The declarations were made under the Income Declaration Scheme 2016.
A Mumbai family of four – Abdul Razzaque Mohammed Sayed, Mohammed Aarif Abdul Razzaque Sayed, Rukhsana Abdul Razzaque and Noorjehan Mohammed Sayed – had filed a declaration of Rs 2 lakh crore in September. The other declaration was filed by Ahmedabad-based businessman Mageshkumar Champaklal Shah, who had told the department he had Rs 13,860 crore in undisclosed income as of September.
The ministry said these declarations were rejected by the I-T department after these people were found to be of “suspicious nature and very small means”. “Income Tax Department has since commenced enquiries against these declarants to determine the intention behind these false declarations,” the Ministry of Finance tweeted. The ministry added that these declarations were not included in the total value of declarations made under IDS 2016 on October 1, 2016.
Speaking to ETV Gujarati, Shah had claimed that he declared the amount on behalf of several influential people, including politicians, entrepreneurs and government officials in return for a commission.