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13 Nov 2018, Edition - 1218, Tuesday

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Tamilnadu News

Chidambarams rubbish IT charges of non-disclosure of foreign assets

Covai Post Network

Chennai : Family of former finance minister P Chidambaram has rubbished the charges against them made by the IT department that the Chidmbarams failed to disclose their foreign assets as baseless.

Chartered Accountant R Balachandran, whose client Karti Chidambaram, son of P Chidambaram, was among those charged by the IT said that returns of income filed by the family members of Chidambaram are complete answer to the baseless allegation.

In a statement issued by R.Balachandran said he was the chartered accountant for Karti P Chidambaram, Srinidhi Karti Chidambaram and Chess Global Advisory Services Private Ltd. The returns of Chidambaram family members puncture the baseless charges of Income Tax department, Balachandran said in a statement here.

ALSO READ : More trouble for Chidambaram: wife, son and daughter in law charged for non-disclosure of foreign assets

The statement was retweeted by Karti Chidambaram.

“The income-tax returns are prepared on the advice of the chartered accountants. The investments in question were made through bank remittances. They were duly disclosed in the returns of income filed under Section 139 of the Income-tax Act for the relevant assessment year. It is totally wrong to allege there was a wilful failure to disclose the investments. The returns of income are a complete answer to the baseless allegation.”

He further said, “the compliant by the Income-tax department against my clients will be opposed in accordance with law.”

The IT department on Friday filed four criminal complaints charging Nalini Chidambaram (wife of former finance minister) Karti Chidambaram, Srinidhi Karti Chidambaram and the company Chess Global Advisory Services for non-disclosure of immovable properties in the UK and in the US to the tax authorities.

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