Nation Current Affairs 22 Sep 2016 IT raids at vada pav ...

IT raids at vada pav, jalebi, dosa stalls in Mumbai, other cities

DECCAN CHRONICLE
Published Sep 22, 2016, 3:16 pm IST
Updated Sep 22, 2016, 3:16 pm IST
Owners of the eateries were asked to declare black money under Income Declaration Scheme (IDS).
Raids were conducted in Ahmedabad, and at eateries and shops in New Delhi and Kolkata too. (Photo: File/ Representational Image)
 Raids were conducted in Ahmedabad, and at eateries and shops in New Delhi and Kolkata too. (Photo: File/ Representational Image)

Mumbai: In what might come as a surprise to some, the Income Tax (IT) department has raided several small businesses in the country including vada pav, sandwich and jalebi stalls.

According to a report, with the deadline for payment of tax and penalty under the black money disclosure scheme less than two weeks away, the IT department raided about 50 vada pav centres in Mumbai and Thane. The raids were also carried out at a dosa centre in Ghatkopar, a sandwich centre in Andheri and a jalebiwallah in south Mumbai.

 

Raids were conducted in Ahmedabad, and at eateries and shops in New Delhi and Kolkata too.

Owners of the eateries were asked to declare black money under Income Declaration Scheme (IDS). "About 1 lakh small businessmen and shopkeepers have been identified by the government as possible evaders. It is also understood that the government has given targets for each city," a tax official was quoted as saying.

The Central Board of Direct Taxes (CBDT) had issued a fresh clarification earlier in August exempting those who declare untaxed assets or income from enquiry during future raids.

 

The first instalment of 25% under the IDS 2016 will have to be paid by November, followed by another 25% by March 31, 2017. The remaining amount will have to be paid to the exchequer by September 30, 2017.

Earlier, the deadline for all these was November 30 of the current year.

The scheme was announced by the government with an aim to bring out the black money from the domestic economy, a poll promise of the Narendra Modi-led NDA government.

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