BENGALURU: To end the controversy over his Rs 70-lakh watch, chief minister Siddaramaiah has decided to declare it as an asset before the Income Tax department and the Lokayukta , sources said.As all legislators have to declare their assets and liabilities to the Lokayukta before March 31 every year, CM Siddaramaiah will use the provision to declare the watch as asset for the year 2015.Sources said a doctor had gifted the watch - a Hublot - to the chief minister. A senior MLA identified the doctor as the CM's son, Yathindra.Though reports suggested Siddaramaiah received the gift two years ago, his decision to declare it now indicates he received it recently. He has collected the sale details of the watch to make the declaration, a minister said.What should he do with the watch now? Sources said Siddaramaiah was yet to decide on auctioning it the way PM Modi auctioned his monogrammed suit or keep it in the state cabinet hall like Nijalingappa did with the gifts given to him.Siddaramaiah has decided to take on the opposition head-on over the controversy. "If opposition leaders are dreaming I'd lose my job for wearing an expensive watch, it will remain their dream," the CM told reporters in Mysuru on Sunday.The BJP has decided to raise the issue in Parliament and the assembly during the budget session. All eyes are on JD(S) state president HD Kumaraswamy , who has threatened to release documents on the CM's watch.