Telangana News

After the sensational Mahesh Shah case, that hit the headlines by declaring Rs. 13860 crores unaccounted money, now even a family of four from Mumbai were identified with Rs. 2 lakh crores black money. 

But, just like the Income Tax Department rejected Mahesh Shah's claim finding it suspicious, even the latest case was also rejected saying that, the concerned declarants have no means of amassing such high income. Reportedly, the IT department has already initiated inquiries against these declarants to find out who the real benefactors were.

Income Declaration Scheme (IDS), which was closed on 30th September this year, had given the opportunity for people disclose the black money and get away by paying 45% of the total declared amount as tax and penalty.

IT dept. believes that some big politicians and businessmen have tricked the declarants in the two aforementioned cases to save their names.