Family declares 2 Lakh Cr income

The Income Tax Department has rejected a Rs 2 lakh crore declaration made by a family of four people in Mumbai under the Income Declaration Scheme (IDS). According to the ministry's statement said: “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 Ministry said. “The other declaration was filed by one Mahesh Kumar Champaklal Shah, resident of … Ahmedabad for Rs. 13,860 crore.”. On October 1, it was announced that declarations totalling Rs. 65,250 crore were received from 64,275 declarants, subject to reconciliation, the Ministry said. After final reconciliation, the revised figure of actual declarations “received and taken on record” was Rs. 67,382 crore, made by 71,726 declarants, it added.