Mumbai Film Tax Raids
Income Tax Department Raids Mumbai Film Sites Over Overseas Transfers
Anonymous
India’s Income Tax Department searched about 12 locations in Mumbai linked to actor Rakul Preet Singh, producer Vashu Bhagnani and Panorama Studios as part of an investigation into suspected irregularities in overseas transfers tied to film projects. Officials are reportedly reviewing financial records and whether funds were sent abroad under the stated purposes of film financing, production or distribution. Authorities have not publicly detailed the transactions, and the searches do not establish wrongdoing; the investigation is ongoing.
Key Points
1
The searches were reported against the backdrop of a nationwide Income Tax Department verification exercise covering about 394 entities and 36 professionals, focused on suspected irregularities in foreign remittances, including possible mismatches between income, turnover and the stated purpose of payments.
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The report also described a separate Pune Police investigation into an alleged ₹4,427-crore overseas-remittance racket involving shell companies and disputed Form 15CB certificates; it did not say that the Pune case was connected to the Mumbai searches.
3
MoneyControl, citing sources, reported that authorities had received information for some time about substantial sums being sent abroad under the descriptions of film shooting, foreign distribution and production.
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