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Hyderabad Nizam’s grandson seeks one-time settlement from Centre over pending Income, Wealth Tax

Family members of the last Nizam of Hyderabad Mir Osman Ali Khan have written to Finance Minister Nirmala Sitharam urging her to resolve the Nizam Jewellery Tru…

Hyderabad (Telangana), 14 January — Family members of the last Nizam of Hyderabad Mir Osman Ali Khan have written to Finance Minister Nirmala Sitharam urging her to resolve the Nizam Jewellery Trust income and wealth tax issue which has been pending with the Income Tax department for the last 26 years.
Najaf Ali Khan, grandson of the last Nizam urged for a one-time settlement of the issue stating that 39 of the 114 beneficiaries from the Nizam Family had either expired during this period and most of those remaining were senior citizens facing health and financial issues.
In the 1950s, the last Nizam had created various Trusts, one of which was the Nizam Jewellery Trust. The Trustees, which included Prince Muffakham Jah and a government nominated official from the Finance Ministry, were empowered to sell the jewellery.

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Source: ANI

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