Rs 50 crore declared as black money, by Roadside eatery owners

Now one may be wondering where is the disparity that is often talk of, rich is richer and poor is also richer!

The roadside eateries owners of Mumbai region declared a sum of Rs 50 crore in cash and properties as black money. This move happened on the last days of government’s Income Declaration Scheme (IDS). Declaration may lead to payment of tax of around Rs.20-25 crores.

It was triggered out of fear as the Income Tax Department conducted raids on such premises across the country. In the past weeks, IT raids occurred in around 200 eateries including the ones in Thane, a dosa centre in Ghatkopar, a sandwich centre in Andheri and south Mumbai.

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