MONEY
According to the guidelines of IDS, Shah’s declaration was 20% more than the total of already-declared ₹ 65,000 crore.
Mahesh Shah appeared on a local television show and claimed that the money does not belong to him solely.
Few days ago a property dealer in Gujarat named Mahesh Shah had declared ₹13,860 crore of undisclosed wealth under the Income Tax Declaration Scheme (IDS). IT department raided his residence and even before than he has been absconding. Now he has appeared on a local television show and said that the money does not belong to him.
According to the guidelines of IDS, Shah’s declaration was 20% more than the total of already-declared ₹ 65,000 crore.
Shah stated in a television show that he had to declare that whopping amount out of ‘compulsion’ so that he could earn ‘commission.’ He even said that he has committed a mistake and he is going to come up with an explanation soon.
Moments after he appeared on the show, IT department officers caught hold of Shah and started questioning him. During the interrogation Shah said that the money belonged to a lot of people and not only him. The Gujarat-based businessman also said that he would not disclose the names in public and he would only reveal them in front of the IT officials. Shah even pleaded for not being guilty.