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Income tax raids on 'leading actress', 2 production companies in Mumbai: Govt releases statement

I-T Department is carrying out 'search and survey operations on two leading film production companies, a leading actress'Premium
I-T Department is carrying out 'search and survey operations on two leading film production companies, a leading actress'

  • The Income Tax Department has conducted raids at 28 premises across the country in the last two days
  • The company officials have not been able to explain discrepancy of around 300 crore, the ministry said in a statement

The Income Tax Department is carrying out "search and survey operations on two leading film production companies, a leading actress and two talent management companies in Mumbai," the finance ministry said in a statement on Thursday. The agency has conducted raids at 28 premises across the country in the last two days. Search operations have been carried out in Mumbai, Pune, Delhi and Hyderabad.

"During the search, evidence of huge suppression of income by the leading film production house compared to the actual box office collections has been unearthed. The company officials have not been able to explain discrepancy of around 300 crore," the finance ministry said in a statement.

"Evidence related to manipulation and under-valuation of share transactions of the production house amongst the film directors and shareholders, having tax implication of about 350 crore has been found and is being further investigated," it added.

"Evidence of cash receipts by the leading actress amounting to 5 crore has been recovered. Further investigation is going on," it further added.

The group is mainly engaged in the business of production of motion pictures, web series, acting, direction and talent management of celebrities and other artists.

"During the search, seven bank lockers have been found which have been placed under restraint. Search is continuing in all the premises," ministry said.

"Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers or director having tax implication of about 20 crore has been detected. Similar findings have been made in the case of the leading actress also," the statement said.

Digital data in the form of emails, WhatsApp chats, hard disk etc were seized from the office premises of the two talent management companies


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