Mumbai, Feb 12: The Income Tax department's Criminal Investigation wing has identified 2,000 Indian citizens who hold properties in Dubai but had failed to declare it in their IT returns.
In its ongoing crackdown on black money, the agency has identified Indian citizens who purchased properties in Dubai but failed to declare and explain the source of funds used to purchase these properties.
In the past few years, people have used shell companies to route illegal money and buy overseas properties to evade income tax.
However, the tax department has now increased its efforts to track down those involved in major tax evasion cases.
The 2,000 persons and companies identified mainly include businessmen, top professionals, and government officials.
The IT department will initiate action against the accused under the Black Money Act.
Citizens who own properties outside the country but fail to declare the source of funds or income used for the purchase could be prosecuted under the Black Money Act.
Under Section FA (Foreign Assets) of the Income Tax Act, an individual has to declare purchase and ownership of properties, assets, companies owned outside the country while filing the income tax returns annually.
In the recent drive against black money, the IT department identified 2,000 Indian nationals who failed to provide information on the same while filing IT returns.
Of the 2,000 citizens owning properties in Dubai, around 600 could not furnish details regarding purchase details.
Those who haven't been able to explain the source of funds used for the purchase of properties could be prosecuted and their properties can be attached by the agency.
Other than the attachment of the property, they can face a monetary penalty up to 300 per cent of the property value and also face imprisonment under the Black Money Act.
The properties owned by Indians in Dubai raised red flags as this pattern of parking money is used by money launderers, smugglers, underworld gangsters and drug traffickers for making payments.
It is worth mentioning that of the 2,000 citizens identified, most are residing in Mumbai, followed by Kerala and Gujarat.
The clause under section FA (foreign Assets) came into effect in the year 2011-12 and it is mandatory for people owning properties outside India to declare it in their IT returns.
Those identified by IT department could also face action under FEMA (Foreign Exchange Management Act) by the Enforcement Directorate under Section 4.
Recently the Enforcement Directorate (ED) launched a crackdown on black money parked overseas by tracking and identifying immovable assets bought overseas by Indian nationals illegally.
The move is being carried out under rules laid down under Section 4 of FEMA (Foregn Exchange Manipulation Act), 1999. Section 4 of FEMA states that no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.
On January 17, the Enforcement Directorate (ED) conducted searches at the residence of a former chief engineer of Brihanmumbai Municipal Corporation (BMC) in connection with an inquiry related to FEMA.
In the raids, the ED officials recovered documents related to the purchase of a property in Dubai in an allegedly illegal manner.
The ex-BMC chief engineer was posted with some of the most crucial wings of the municipal corporation -- the building proposal department and development plan department.
The agency did not disclose the name of the ex-BMC chief engineer but it has been learnt that he had superannuated around seven years ago from the municipal corporation.
ED, in a statement, said incriminating documents with regard to illegal acquisition of a property held in Dubai was recovered during the search operation.
The former BMC chief engineer has stated that he had purchased the property in Dubai at 'Park Island, Bonaire Marsa, Dubai' for Rs 70 lakh in 2012. The property is held jointly in his name, his spouse and son.
The retired BMC officials could not furnish any documents which would help ascertain the value of the property and also could not provide details on how the payments were made to buy the property in Dubai.
The citizens identified by the IT department recently also adopted a similar route to buy property in Delhi. It remains to be seen how the income tax department plans to penalise them.
Comments
Islam is very simple religion which is based on oneness of Allah. Khulafa-Ur-Rashidun's, Sahaba's, Tabi'uns not took long time to understand the Islam and their emaan was very strong. But still after 1400 years, we are unable to understand the simple teaching of oneness of Allah.
Undu Yereg aw ye Kiri Kiri, E Bhoomi, Aakaasha, Iddi lokan shrishti malthina creator na Pooje/Araadhane Malpulle marre... Ragaaaale ijji...
Someone is sitting there and laughing and making money in the name of?????? shirk! Most of those poor people go and pray there with the intention of becoming rich or get promotion or salary hike or getting cure from diseases etc....this is really a nonsense.....nothing like that kind of thing will happen because of their visit...dead man cannot solve your problem....
Here it is mentioned some farmers came here and prayed for rain and it rained on their way back.
Point to note here that only Allah can shower rain, and also for these farmers Allah showered the rain. But a VERY VERY CRITICAL AND PEAK POINT is that it may be the test from Allah to these farmers that after he showers rain whether they are going to trust this Dargah or Allah. At this point if someone puts his trust on the Dargah instead of Allah then he has lost his imaan then and there itself. A very dangerous test where most people fail. And most muslims who visit such places for any benefit or blessings are the ones who no more trust Allah.
May Allah save us from such situations and trials of life.
At any situations put your trust only on Allah and ask with him. He will answer.
The Organiser says (6th para) in the article.. which contradicts, Please read & PONDER on below verse from the QURAN
ALLAH SAYS IN QURAN:
Quran 6:99 - And it is ALLAH who sends down rain from the sky, and We produce thereby the growth of all things. We produce from it greenery from which WE produce grains arranged in layers. And from the palm trees - of its emerging fruit are clusters hanging low. And We produce gardens of grapevines and olives and pomegranates, similar yet varied. Look at (each of) its fruits when it yields and (at) its ripening. Indeed in that are SIGNS for a PEOPLE who BELIEVE.
So ask with ALLAH ALONE dont associate Partners with HIM. ALLAH is able to do all things. TRUST him.
I read the above statement in which it says that the Three bodies flown from west to east of Brothers And Sister My question is
How did they know that the Bodies is of Brothers And Sister?
Were they a Muslim?
If they were a saint why the people of their Community allowed them to flow in the river?
If they had a divine power then why they themselves could not rescue from floating in the river?
@ Anjali,
Certainly, your question can be answered if you search in youtube from Dr. Zakir Naik or other speakers. But Dr. Zakir Naik is recommended because he has been asked several questions of similar kind.
Hope it is clear.
Here the main intention is money making. some illiterate are going to there (our ulema (religion scholar) does not stop them because of they are scared they might be going to loose their earning. the one which buried there for them no address, no name nothing.. May Allah save us this kind of Jahiliyath
Dear All
we don't want to learn Islam from your side Alhamdulillah we have better Ulama to learn what is shirk and what is reverence.
if i am not wrong particular category discussing more about jaatre and vedas instead of Quran
Abdul Rahman Muscat you are very near to SALALAH for Hazrat Ayub Alehisalam And please don't ask who is this, for that you have to read Quran if you can or else even you can visit Madina Also.
Nauzubillah!!! What is this dear brothers and sisters??
Yaa Allah make us among those who pratice Rasool's (SAW) sunnah & stay away from these innovations & shirks - AMEEN ya Rabbal Alameen
@Anjali,
First of all islamic laws are same from east to west and north to south, No difference!
What you seing here people/women are going NOT to pray to the true god \Allah - the only creator\". they are going to pray to human bein
Nauzubillah!!! what is this dear brothers and sisters in islam???
Who's body is in the Grave?
Did prophet Muhammad pbuh did such rituals?
Did the 4 Khulafas did such rituals?
Did the sahabas did such rituals?
Did taba u tabieen did such rituals?
We will never find this rituals done by these pious, Instead of looking at the examples of our role models. WE are blindly believing in the modern discription of grave visit...
Prophet Muhammad pbuh after knowing the sahabas strong belief in ALLAH & dependence in ALLAH, He allowed them to visit the grave to pray for the dead & for remembering our fate will be same as them.
Here WE are asking with the GRAVE and thinking ALLAH will give barakah if we ask in such places...
Please my muslim ummah - ALLAH is all hearing & all seeing . Dont limit his mercy in such places. He listens and answers even if U call ANYWHERE... HAVE FAITH in ALLAH.
and ASK ALLAH ALONE & follow the pious role models which will bring CONTENT in our LIFE.
May ALLAH keep us away from such ritual.
There is No place for \Darga\" or \"Durga\" in Islam, All people involved in this including contribution to this in any means has to go through severest punishments on the day of judgment for supporting or giving the place of the only creator “Allah” to others as such."
Hello Anjali sister dont look at what is happening here just study the quran & Hadis what is saying thats all and these all are following other religions culture
Coastal digest encouraging shirk!
Yaarado duddu yellammana Jaatre....
Why our muslim brothers cannot understand what is Islam... Please stay away from Shirk... May Allah Save us...
I'm a Medical student from calicut Medical College.My name is Anjali Kundan from Mumbai.Being a student i have even made a attempt to know more about Islaam.Being a student of Science i admire from my heart that Quran is a word of God.Because what Modern Science says today has been recorded 1000 years ago in Quran.But certain questions still strikes me one among them is regarding the above report.
The above photo shows that a Muslim women going to Mosque to pray then why some groups of Muslim scholars oppose women going to Mosque to pray in Kerala.Does the rules Differ from one place to another.What does Islam teaches regarding this.
Inna lillahi wa inna ilaihi raajioon.. May Allah Guide us from all forms of SHIRK & INNOVATIONS and grant us UNDERSTANDING.
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