Lucknow: The Income tax department of Uttar Pradesh was shell shocked after their latest findings about the small and petty business owner’s income in Kanpur district. In a recent investigation by the Income Tax Department of Kanpur, UP, the city’s small shopkeepers like paan, samosa, and chaat vendors are found to be millionaires. Kanpur once known as the Manchester of east is now known for its leather export and industries.
According to the report, more than 250 people who sell roadside snacks and eatables are millionaires. People who work as rag-pickers have been reported to have more than three cars per person.
The most surprising revelation of the survey was that these wealthy individuals do not pay or fall in any formal tax like Income Tax and they have no relation with GST as well.
A scrap dealer in Bekonganj, according to sources, has purchased three homes valued more than Rs 10 crore in the last two years.
During the COVID era, the owners of two paan shops in Aryanagar, one in Swaroop Nagar, and two on Birhana Road purchased properties for Rs 5 crore.
If you assume individuals who run their businesses from rented carts are struggling every day, you’ll be shocked to hear that a snack vendor on Mall Road pays Rs.1.25 lakh per month in rent on various carts.
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Chaat vendors on Birhana Road and Mall Road, on the other hand, have made significant investments in real estate to safeguard their future.
While the data has given a shock to the Income Tax Department and it is not the first time such information has been made public. The Commercial Tax Department of Aligarh revealed the case of a modest snack seller with an annual turnover of Rs 60 lakhs in the year 2019.
I-T Dept issues personal income tax refunds worth Rs 7,494 cr so far this fiscal yr
