Owners of roadside eateries in and around Mumbai have declared about Rs 50 crore in cash and properties under the government’s Income Declaration Scheme (IDS), a development that comes about a week after the Income Tax Department conducted raids on such premises across the country.
The eatery owners will have to pay tax of Rs 22.5 crore on this previously unaccounted income, people aware of the matter said.
In the past two weeks the Income Tax Department raided about 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 owner of a juice centre 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,” said one of the persons, who did not wish to be identified.
About Rs 40,000 crore had been declared under the black money scheme by Thursday evening, the person said. Of this, about Rs 5,000 crore was declared in Mumbai, Thane and New Mumbai.
ET could not independently verify the figures since the government has yet to officially announce the figures.
One of the persons who declared income under the scheme said on condition of anonymity, “The income tax officials told us that we must declare our assets under IDS or they would come again and raid our shop. We had asked our tax advisor to help us with the problem,” said the person, who is a co-owner of an eatery.
Looking for investment in Share Market, CapitalStars Financial Research Private Limited provides you best investments Tips in Share Market.It daily provides intraday and Future calls with profit assurity.We generate intraday as well as delivery calls in Stock cash and F&O in NSE & BSE, Commodities.
Commodity Market Tips
Equity Tips
Share Market Tips
0 comments:
Post a Comment