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IT department rejects report of Rs 13,680 cr made under IDS

IT department rejects report of Rs 13,680 cr made under IDS

The Income Tax department has refused Rs 13,860 crore of declaration made by Gujarat based businessman Mahesh Shah under Income Declaration Scheme (IDS), informed Ministry of Finance on Sunday.

Shah was seized by the I-T officials from the from the sets of a TV news channel on Saturday, and he had declared that the money that he declared under IDS belongs to politicians and bureaucrats and more information will be revealed soon.

In addition, other set of declaration of Rs 2,00,000 crore made under IDS by a family o four from Mumbai was also rejected.

Meanwhile, the government has revised upwards the total illegal 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 higher value which were not taken on record in the above figure because these declarations were found to be doubtful in nature being filed by persons of small means, the Finance Ministry said in a report today.

A family of four declarants namely, Abdul Razzaque Mohammed Sayed (self), Mohammed Aarif Abdul Razzaque Sayed (son), Rukhsana Abdul Razzaque Sayed (wife) and Noorjahan Mohammed Sayed (sister), who were shown as residents of Flat no. 4, Ground Floor, Jubilee Court, 269-B, T.P.S-III, Linking Road, Bandra (W), Mumbai, filed a total declaration of Rs 2 lakh crore, it said.

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