Declaration of Rs 2 lakh crore, 13,860 crore not genuine: I-T

Meanwhile, the government has revised upwards the total illicit wealth disclosed in the one-time window to Rs 67,382 crore as against Rs 65,250 crore estimated earlier. “Among the declarations received, there were two sets of declarations of high value which were not taken on record in the above figure because these declarations were found to be suspicious in nature being filed by persons of small means,” the Finance Ministry said in a statement on Sunday. 

“After due consideration, the Income Tax Department decided by 30th November, 2016, to reject these two sets of declarations of Rs 2 lakh crore and Rs 13,860 crore respectively. The Department has since commenced enquiries against these declarants to determine the intention behind these false declarations,” it added.