(File photo)Income Tax searches were conducted in the office and residential premises of city-based property dealer Mahesh Shah, who disclosed a whopping Rs 13,860 crore of unaccounted income under the Income Declaration Scheme (IDS). WATCH VIDEO: Ahmedabad Businessman Under Scanner Who Declared Rs 13,000 Crore Under IDSepartment officials could not be contacted even after several attempts. In his statement to media, Sethna claimed Shah made a disclosure of Rs 13,860 crore of cash under the IDS scheme. The IDS scheme was closed on September 30. “After taking guidance from senior I-T officials, he made a disclosure of Rs 13,860 crore cash under the IDS scheme.

Source: Indian Express December 02, 2016 12:27 UTC