IT department probing Rs 2 lakh crore declaration under IDS

Three out of the four PAN numbers were originally in Ajmer which were migrated to Mumbai in September 2016, where the declarations were filed.

Mumbai, Dec 4 The income tax department has put on hold a declaration of Rs 2 lakh crore made by a family from Mumbai. The declaration was made under the Income Declaration Scheme (IDS).

The scheme closed on 30th September,2016. On 1st October, 2016, 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 71,726declarants.

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.

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), residents of Bandra, Mumbai filed a total declaration of Rs. Two lakh crore (Rs. 2,00,000 crore).

Three out of the four PAN numbers were originally in Ajmer which were migrated to Mumbai in September 2016, where the declarations were filed.

The other declaration was filed by one Mahesh Kumar Champaklal Shah resident of 206, MangalJyot Tower, Jodhpur Gram Satellite, Ahmedabad for an amount of Rs.Thirteen Thousand Eight Hundred and Sixty crore (Rs.13,860 crore).

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 1st October, 2016. 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.

The Income Tax Department decided on 30th November, 2016 , to reject these two sets of declarations of Rs.Two Lakh Crore and Rs.Thirteen Thousand Eight Hundred and Sixty Crore respectively. The Department has commenced enquiries against these declarants to determine the intent.

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