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Business News/ Politics / Policy/  I-T department rejects two sets of high-value declarations under IDS
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I-T department rejects two sets of high-value declarations under IDS

The total declarations under the income disclosure were at Rs67,382 crore from 71,726 declarants

The statement said that the I-T department did not take into consideration the much-talked about Rs13,860 crore declaration made by Ahemdabad-based Mahesh Shah. Photo: MintPremium
The statement said that the I-T department did not take into consideration the much-talked about Rs13,860 crore declaration made by Ahemdabad-based Mahesh Shah. Photo: Mint

New Delhi: The income tax (I-T) department has rejected two sets of suspicious high value declarations under the income disclosure scheme (IDS) which ended in September, including one made by Mahesh Shah, the Ahmedabad-based property dealer who was detained by the income tax department on Saturday.

In the first instance, declarations were made by a family of four based in Mumbai, named Abdul Razzaque Mohammed Sayed, Mohammed Aarif Abdul Razzaque Sayed, Rukhsana Abdul Razzaque Sayed, and Noorjahan Mohammed Sayed, amounting to a total of Rs2 trillion and in the other instance, the declaration was made by Shah, an Ahmedabad-based individual amounting to Rs13,860 crore.

In both instances, after investigations, it was established that these people were of ‘small means’ and these declarations could have been misused, the tax department said in a statement. These numbers were also not included while arriving at the final numbers under the income disclosure scheme, it added.

The total declarations under the income disclosure were at Rs67,382 crore from 71,726 declarants.

Shah had claimed on Saturday that the income did not belong to him and he was dealing on behalf of some government officials, politicians and businessmen.

Also read: Mahesh Shah, who declared Rs13,860 crore, detained by I-T dept

“The department has commenced enquiries against these declarants to determine the intention behind these false declarations," the department said.

Finance minister Arun Jaitley had proposed an income disclosure scheme in this year’s budget to give tax evaders a chance to declare their unaccounted wealth and escape with a higher tax and penalty. The four-month window for these declarations ended on 30 September.

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Published: 04 Dec 2016, 10:24 PM IST
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