The Bollywood film industry is once again under the scanner of the Central Board of Excise and Customs or CBEC.
Top production houses like Yash Raj Production and Salman Khan Films have been issued missives asking them to reveal amounts paid to top Bollywood stars like Ranveer Singh and Aamir Khan. The inquiry was sent by the intelligence officer of the division.
After superstar Shahrukh Khan received a notice from the Tax Department asking him about his off-shore investments, the Mumbai film industry seems to have come below the taxmen scanner. Bollywood is flush with successes of its recent releases, and the taxmann have started smelling something amiss.
Sources hint that the sleuths from the Department are looking for high profile tax defaulters and have shot off letters to major production houses asking for details of payment to major stars. The onus of paying service taxes is upon the actors who have received payment from the production houses.
The tinsel town has some of the biggest earners in the country and a flurry of hits in recent times has made them come under the radar of the Tax sleuths. Other Bollywood Big Whigs are also in the taxmen cross hairs.
An anonymous producer told the Daily that the industry as a whole has very little understanding of tax matters.
The established producers, directors, and actors have been receiving the notices and missives tax department for some time now. High profile names like Ranveer Singh, Salman Khan, Aamir Khan have been under the ambit of the tax authorities for some time now.
The department is also looking into the earnings from films like “Dhoom 3”, “Ek Tha Tiger”, “Bajirao Mastani”, “Bajrangi Bhaijaan”, etc.
It is reported that Shahrukh Khan has received a notice from the Tax authorities to reveal his investments made in offshore locations like Bermuda, British Virgin Islands, and Dubai.