Amarinder justifies seven-fold increase in income

Chandigarh  :  Punjab Chief Minister Amarinder Singh on Saturday justified the seven-fold increase in his income between the years 2016-17 to 2017-18.

"The seven-fold increase in Captain Amarinder Singh's income after becoming Chief Minister was attributable directly to his salary and perquisites, as well as sale of certain properties, for which there was no provision to mention in the form 26 affidavit submitted by his wife, Preneet Kaur, with her nomination papers as Congress candidate from Patiala," a spokesperson for the Chief Minister said on Saturday.

"While Captain Amarinder's individual income in 2016-17 was Rs 12.14 lakh, his HUF (Hindu Undivided Family) income was nil. At the end of 2017-18, the Chief Minister had earned Rs 81.43 lakh as monthly salary and perquisites resulting from his position, which included yearly salary of Rs 72 lakhs and interest from banks and other financial institutions shown in his income tax returns. 

"Further, he had earned Rs. 9.72 lakh as 'karta' of HUF during 2017-18, on account of difference of capital gain by sale of property," the spokesperson added.

As far as increase in value of assets was concerned, these had gone up from Rs 48.29 crore to Rs 58.40 crore in the last two years and the increase was the result of sale of certain properties/land, the spokesperson said.

"The details of these sales were Rs 4 crore as advance received against sale of land in Himachal Pradesh, Rs 5 crore from sale of HUF land in village Bahadurgarh (Patiala), Rs 1 crore against sale of land in village Marzi and Rs. 1.25 crore from sale of Dubai flat," he said.

Out of the sale proceeds, Rs 3.71 crore had gone into purchase of land in village Siswan, with another Rs 4.71 crore incurred on construction of a house on this land, he added. 

"While all these details had been furnished in the previous income tax returns filed for year ended March 2018, these could not be provided in the affidavit submitted by Preneet Kaur as Form 26 affidavit regarding movable and immovable properties of the spouse requires only declaration of total assets, with no column to depict the sale of properties and assets," the spokesperson said.

Amarinder Singh became Punjab's Chief Minister for the second time in March 2017.