The Income-Tax Department has issued Karti P Chidambaram, son of former finance minister P Chidambaram, a notice under the Black Money Act, seeking details of an undisclosed property in the UK.
The department has also issued similar notices to Karti’s mother and wife as well under the Black Money Undisclosed Foreign Income & Assets and Imposition of Tax Act, 2015.
Karti and others have also been asked to provide details of all their assets in India and abroad. The UK property is based in Barton, Cambridge. In the notice, the department said Karti had paid around 78 lakh rupees for the property in fiscal year 2015-16.
On the other hand, Karti has denied the charge saying he had disclosed the details of the asset in his tax returns.
