Indian man in Kuwait faces Rs 3.63 crore tax case after no ITR
Hyderabad, Sept. 11 -- An Indian working in Kuwait, Narshibhai, faced a Rs 3.63 crore tax case after the Income Tax Department flagged large sums in his Indian bank accounts and found that he had not filed an original Income Tax Return (ITR) explaining the money.
The case was first reported by the Economic Times on Thursday, September 10. Narshibhai, originally from Ahmedabad, worked in the oilfields at Mina Al-Ahmadi, Kuwait. His salary was credited to his National Bank of Kuwait account, from where he transferred funds to his accounts in India.
According to the department's Specified Financial Transactions (SFT) records, Narshibhai had Rs 2.49 crore with HDFC Bank and Rs 1.09 crore with ICICI Bank as of December 31, 2018. The records ...
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