Film companies steal tax worth 350 crores, 5 crores cash from Taapsee found: IT

Film companies steal tax worth 350 crores, 5 crores cash from Tapasee found: IT

The Income Tax Department is raiding and investigating some people and companies associated with the film industry, including Bollywood actress Taapsee Pannu and film director Anurag Kashyap. The Income Tax Department, in its statement released on Thursday, said that during the search, there has been evidence of massive misappropriation in the income and shares of these production houses.

According to sources, the department said that the Income Tax Department has come to know of a tax flaw of Rs 350 crore. Company officials have not been able to give any answer about Rs 350 crore. So there is a cash response recovery of 5 crores in the name of Taapsee Pannu, whose investigation is going on.

The Income Tax Department said that from March 3 (Wednesday), the premises of 2 big film production houses, one actress and 2 talent management company of Mumbai were being raided. These raids are going on in Mumbai, Delhi, Pune and Hyderabad. A total of 28 places including offices and accommodation are being raided.

Both separate cases of raids

Sources associated with the Income Tax Department said that these two separate cases are going on. One is against the shareholders of Phantom Films and the other is against Taapsee Pannu. Taapsee Pannu and his company are suspected of income tax evasion of around Rs 25 crore. Tapasi took cash money of around 5 crores. His company is also involved in income tax evasion. Their agreement is also on the radar of IT.