Rupees 2 Lakh Crore Black Money Declared By A Family In Mumbai Comes Under Investigation.

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A family which has declared it’s undisclosed income amounting to Rs.65,250 crore has come under investigation. This was declared under the government’s Income Disclosure Scheme which was formed to flush out black money.

The declaration was rejected recently due to it being “suspicious in nature, being filed by persons of small means”.

The family of four — Abdul Razzaque Mohammed Sayed, his son Mohammed Aarif Abdul Razzaque Sayed, wife Rukhsana Abdul Razzaque Sayed and sister Noorjahan Mohammed Sayed, are residents of Bandra. The declaration issued by them is suspected to be thrice that of the original amount shown.

Regarding the Sayeeds, the ministry said three out of the four PAN numbers were originally from Ajmer. These were migrated to Mumbai in September 2016, where the declarations were filed.

Here’s what has been issued by the Ministry of Finance.