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Taxmen Stumped By Mumbai Family's  ₹2 Lakh Crore Declaration, Reject It

They were allegedly persons of "small mean".

05/12/2016 3:44 PM IST | Updated 05/12/2016 4:37 PM IST
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In a curious case of taxation, the Income Tax Department has rejected a declaration of ₹2 lakh crore by a family of four in Mumbai's Bandra.

According to a report in The Hindu, the IT Department rejected this declaration along with the disclosure of ₹13,860 by Ahmedabad resident Mahesh Shah on the basis that they "were found to be suspicious in nature being filed by persons of small means.

Because of the rejection, these declarations would not come under the Income Declaration Scheme (IDS).

The Hindu quoted a finance ministry statement as saying, "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 ... Bandra (West), Mumbai, filed a total declaration of Rs. 2 lakh crore. Three of the four PANs were originally of Ajmer, which were shifted to Mumbai in September 2016, where the declarations were filed."

The government had said on October 1 that they had received declarations of ₹65,250 crore from 64,275 people, after final reconciliation it was found that declarations of ₹67,382 crore made by 71,726 people.

The declarations by Shah and the family of four in Mumbai were kept pending because of their suspicious nature and were finally not included in the final reconciliation.

The Economic Times quoted the Central Board of Direct Taxes as saying, "After due consideration, the Income Tax Department decided by 30th November, 2016, to reject these two sets of declarations of Rs 2 lakh crore and Rs 13,860 crore, respectively. The department has since commenced enquiries against these declarants to determine the intention behind these false declarations."

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