1. IT department rejects declarations of Rs 2 lakh crore, Rs 13,000 crore; revises IDS amount

IT department rejects declarations of Rs 2 lakh crore, Rs 13,000 crore; revises IDS amount

IT department, after due enquiry, found that these declarants were persons of suspicious nature & very small means. It was suspected that declarations could have been misused, hence, the same has been rejected by the IT.

By: | New Delhi | Updated: December 4, 2016 5:32 PM
ids rejects rs 2 lakh crore claim, rs 2 lakh crore claim rejected by it, income tax department rejects claim, claims rejected by it, It was suspected that declarations could have been misused, hence, the same has been rejected by the IT. (PTI)

The Income Tax department on Sunday rejected two declarations of Rs 2 Lakh crore and Rs 13,000 crore made under Income Declaration Scheme  (IDS), after the agency found them to be fake in its inquiry.  The declaration of Rs 2 Lakh crore was made by a family four people, while the other amount of Rs 13,000 crore was made by Ahembabad-based realtor Mahesh Sharma. The two declaration were kept pending for probe & were not included in total value of declarations announced on Oct 1 2016.  A family of 4 declarants namely, Abdul Razzaque Mohammed Sayed (self), Mohammed Aarif Abdul Razzaque Sayed (son), Shrimati Rukhsana Abdul Razzaque Sayed (wife) & Noorjahan Mohammed Sayed (sister) from Mumbai,  had filed a total declaration of Rs 2 lakh crore. IT department, after due enquiry, found that these declarants were persons of suspicious nature & very small means. It was suspected that declarations could have been misused, hence, the same has been rejected by the IT. With this announcement, the IT department has also revised income disclosed under IDS t upwards to Rs 67,382 crore, from Rs 65,250 crore earlier.

Earlier, in a dramatic turn of events, Ahmedabad’s Mahesh Sharma reportedly went missing, he later appeared on TV and said that he made declarations on behalf of several big shots of Ahmedabad for commission. An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or assets could be made by agreeing to pay 45% of the declared amount as tax, surcharge and penalty. The scheme closed on 30th September,2016.

  1. J
    Jwalant Desai
    Dec 5, 2016 at 4:55 am
    There is a Big mistake, Instead of Mahesh Shah you publish Mahesh Sharma. No proof reading ...!!!
    Reply

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