The Income Tax department has rejected a whopping Rs 2 lakh crore disclosure by a Mumbai-based family under the Income Disclosure Scheme, which closed in September. A probe is on against the family members to determine the intention behind their claims, officials said.
The family of four declarants – 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 in Mumbai – filed a total declaration of Rs 2 lakh crore, the finance ministry said.
The declaration was “found to be suspicious in nature being filed by persons of small means,” the ministry said. Under the Income Disclosure Scheme, the government had offered a 4-month window to holders of black money to come clean by paying a tax of 45 per cent.
