The Income Tax department has launched action against at least 300 high net worth politicians for allegedly concealing their wealth in their annual returns. The officials will also investigate disproportionate wealth of politicians and their parties.
The I-T Dept is investigating actual assets of these politicians against their known sources of income. These include those who contested the 2009 parliamentary elections and recent Assembly polls.
This action by the I-T was consequent to the directive by the Election Commission (EC) which wants to match I-T returns with the statement of assets declared by candidates in their affidavits.
The Central Board of Direct Taxes (CBDT) told the EC that it had already proposed action against 103 politicians whose election affidavits did not match their I-T returns.