The Income Tax department has rejected an astonishing Rs 2 lakh crore disclosure by a Mumbai family as well as the controversial Rs 13,860 crore by an Ahmedabad businessman under the Income Disclosure Scheme that closed in September and a probe is on against them to determine the intention behind their false claims.
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 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.
The other declaration was filed by one Mahesh Kumar Champaklal Shah resident of 206, MangalJyot Tower, Jodhpur Gram Satellite, Ahmedabad for Rs 13,860 crore.
“Therefore, 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,” it added.
On October 1, it was announced that declarations totalling 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.
In case of the Mumbai family disclosure, the statement said, three out of the four PAN numbers were originally in Ajmer which were migrated to Mumbai in September 2016, where the declarations were filed.
Shah meanwhile has threatened to disclose the names of politicians and businessmen for whom he says he was acting as a front.
Former Finance Minister P Chidambaram in a tweet said: “There is a Rs 13,860 crore hole in the Rs 65,000 crore IDS! How many more holes.”
The statement said these declarations from Mumbai and Ahmedabad were kept pending for investigation about the genuineness of the same and were not included in the total value of declarations announced on October 1.
After due enquiry it was found that these declarants were persons of suspicious nature and very small means and the declarations could have been misused, it said.
The Department has commenced enquiries against these declarants, it said.