Why ordinary people are declaring fortunes in India’s black money clean-up
Mumbai — India’s government has rejected a $29bn declaration of income from a family of four citizens. That fortune would have made them wealthier than the nation’s richest man. The Mumbai-based family including the patriarch, his wife, son and sister together declared 2-trillion rupees — more than Mukesh Ambani’s $21bn of wealth — during a government programme offering amnesty on undisclosed income, the Ministry of Finance said in a statement on Sunday. Another man from Prime Minister Narendra Modi’s home state of Gujarat revealed 138.6-billion rupees of illegal income, locally known as black money. "After due inquiry, it was found that these were persons of suspicious nature and very small means and the declarations could have been misused," according to the statement. The department has since started a probe "to determine the intention behind these false declarations". Modi, who is attempting to fulfill his election pledge of unearthing black money, in September offered tax evade...
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