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Your neighbourhood street vendor could actually be a millionaire
By: Tupaki Desk | 23 July 2021 2:55 AM GMT
Think hawkers a poor person in torn rags carrying the burden of his life and making small incomes comes to mind. But think twice. A hawker may not be all that poor. In fact, he could even be a millionaire flush with money. In fact they could be secret millionaires escaping the prying eyes of the Income Tax department.
In a study conducted by the IT department in Kanpur city alone, as many as 250 street food vendors, rag pickers and even scrap dealers were found to be millionaires. Among them are grocers, vegetable vendors and even sanitation workers. According to the IT officials, they saved millions and bought lands in plush localities. Many owned cars and bought lands on prime locations. Many of them haven't paid anything except the GST.
These startling secret millionnairs came to light when the details from the PAN Card. In 2016 too, a dozen street vendors were found to be owning Rs properties worth Rs 60 crore. Since then, the government has been keeping an eye on the incomes of the hawkers and grocers. Samosa sellers were found to be owning plush cars and huge properties. The officials also used their PAN data to identify them.
Authorities say that in Mumbai alone there were over 2.5 lakh street vendors, many earning up to Rs 6000 a day. But, officially only 15000 vendors have official licences. India officially has over six lakh street vendors.They form four percent of the workforce across the country and have an approximate parallel turnover of Rs 800 crore. Many street hawkers employ up to three persons. None of their financial transactions get recorded in the system, IT officials said.
In a study conducted by the IT department in Kanpur city alone, as many as 250 street food vendors, rag pickers and even scrap dealers were found to be millionaires. Among them are grocers, vegetable vendors and even sanitation workers. According to the IT officials, they saved millions and bought lands in plush localities. Many owned cars and bought lands on prime locations. Many of them haven't paid anything except the GST.
These startling secret millionnairs came to light when the details from the PAN Card. In 2016 too, a dozen street vendors were found to be owning Rs properties worth Rs 60 crore. Since then, the government has been keeping an eye on the incomes of the hawkers and grocers. Samosa sellers were found to be owning plush cars and huge properties. The officials also used their PAN data to identify them.
Authorities say that in Mumbai alone there were over 2.5 lakh street vendors, many earning up to Rs 6000 a day. But, officially only 15000 vendors have official licences. India officially has over six lakh street vendors.They form four percent of the workforce across the country and have an approximate parallel turnover of Rs 800 crore. Many street hawkers employ up to three persons. None of their financial transactions get recorded in the system, IT officials said.
