Income Declaration Scheme (IDS) has come up with an interesting fact that we can’t believe.
In Mumbai, the roadside street vendors who are selling vada pav and chhole batore have declared Rs 50 crores property and cash.
The IT department has conducted raids on 200 eateries including a well-known vada pav centre in Thane, a dosa centre in Ghatkopar, a sandwich centre in Andheri and a jalebiwallah in south Mumbai.
The eatery owners will have to pay tax of Rs 22.5 crore.
The income tax officials warned street vendors to declare assets under IDS or else they would come again and raid street vendor shops.
The owner of a juice center in Ghatkopar has declared about Rs 5 crore in cash and property under the IDS. Some other roadside eatery owners too declared Rs 25 lakh-Rs 2 crore.
Lawyers Support Street Vendors
A lawyer said declaration of income under the scheme could lead to harassment.
"One of my clients wanted to declare about Rs 3.5 crore but I strongly advised against it, as it could lead to harassment in future. His son is about to get married, so I advised the client to hold a grand marriage in Turkey or somewhere and blow away all the money instead, the lawyer, who did not wish to be named, told the financial daily.
Never underestimate anyone!! Respect all