Richer Than Ambani & Trump, Combined: Sayeds’ Wealth Declaration Of ₹2 Lakh Crore Stuns IT Dept

The purported declaration of Rs 200,000 crore wealth by a four-member Mumbai family confounds the Income Tax Department, especially due to their middle class antecedents, official sources said on Monday. CBDT spokesperson Income Tax Commissioner Meenakshi Goswami said the family made the disclosure at the IT Office in Mumbai.

"This high-value declaration was found to be suspicious, so it has not been taken on record," she said in a statement. The family comprises Abdul Razzaque M. Sayed (self and declarant), wife Rukhsana, son Mohammed Aarif and sister Noorjahan Mohammed Sayed. The family lives in an ordinary 2 BHK ground floor flat in an old building, Jubilee Court, in Bandra West, roughly worth around Rs 2.50 crore. The family has not been seen for several years and they are an unknown entity in the maximum city's hi-fi and glam circles.

The CBDT and the IT authorities, doubting the genuineness of the Sayeds' staggering wealth, are puzzled over the possible intentions behind the declaration, given their modest backgrounds.

With inputs from IANS.