HomeNewsBusinessEconomyMore holes in Modi's Income Declaration Scheme: Chidambaram

More holes in Modi's Income Declaration Scheme: Chidambaram

The former Union finance minister's comment came after Ahmedabad-based realtor Mahesh Shah, who, a few days ago, had declared unaccounted income of Rs 13,860 crore, yesterday appeared on a television show claiming that he was just a face for the money belonging to others.

December 05, 2016 / 11:28 IST
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Congress leader P Chidambaram raised questions about the Modi government's Income Declaration Scheme, saying there could be "more holes" in the amnesty scheme after a Gujarati realtor claimed that Rs 13,860 crore black money he had announced did not belong to him.

"There is a Rs 13,860 crore hole in the Rs 65,000 crore IDS ! How many more holes?," Chidambaram tweeted.

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The former Union finance minister's comment came after Ahmedabad-based realtor Mahesh Shah, who, a few days ago, had declared unaccounted income of Rs 13,860 crore, yesterday appeared on a television show claiming that he was just a face for the money belonging to others.

Shah yesterday told the TV channel that he did not have any black money and the declared amount belongs to "some Indians" and he would contact Income Tax department and give the names of those who had convinced him to declare their unaccounted income as his own.