Indian tax evasion crackdown uncovers mysterious wealthy family with wealth exceeding Jack Ma’s

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According to a report on People’s Daily website on December 6, as part of the anti-tax evasion campaign launched in India in June this year, a \"new national family of billionaires\" was accidentally discovered, with tax declarations amounting to as much as 2 trillion rupees (approximately 200 billion yuan/29.4 billion US dollars). This figure already exceeds Jack Ma’s net worth as listed on the 2016 Forbes China Rich List, which was published in October of this year (28.2 billion dollars), and is slightly lower than that of China’s richest man, Wang Jianlin (33 billion dollars). To combat tax evasion, India **launched the “Income Declaration Scheme” in June this year**. Under this scheme, people can \"launder\" illicit money by paying 45% in fees (including taxes, surcharges, and fines). Documents issued by the Indian Ministry of Finance show that as of September 30, a total of 71,726 applicants were involved in this scheme, with a total application amount of 673.82 billion rupees (approximately 9.9 billion dollars). However, this figure does not include two large-scale filings that were rejected, one of which amounted to as much as 2 trillion rupees (approximately $29.4 billion). According to a report by India’s NDTV on the 5th, the Sayed family, whose assets are claimed to be 2 trillion rupees, lives in Mumbai and consists of four members: the father, mother, son, and the father’s sister. The tax authorities noted that the Income Tax Account Cards (PAN Cards) of three of them indicated that they had previously resided in Ajmer, and moved to Mumbai in September of this year. According to a report by Bloomberg on the 5th, the family’s large-scale tax declaration raised suspicions among the tax authorities, which decided on November 30th to reject it and launch an investigation into it. ““These applicants are highly suspicious, and the intentions behind their declarations will be investigated as soon as possible,” stated a recent statement from the tax authorities. The 2 trillion rupees declared by this mysterious family of billionaires exceeds the assets of India’s richest man, Mukesh Ambani, which amount to 21 billion dollars. New Delhi Television in India said that this huge amount is equivalent to three times the total amount declared under this \"income declaration scheme\", 53 times the total amount declared under India’s overseas assets declaration scheme last year, 14% of the total value of the currency involved in the \"banknote demonetization\" drive, and 2% of the total market value of all companies listed on the Bombay Stock Exchange. Furthermore, the average amount declared under this “Income Declaration Scheme” is 10 million rupees. Bloomberg reported that another large-scale declaration that was rejected came from Mahesh Shah in Gujarat, India, amounting to nearly $2 billion. Shah had previously told a local television station that the money did not belong to him, but rather to several politicians and bureaucrats.