Manipulation in income having tax effect of Rs. 350 crore found during search on leading film actress/producer: CBDT

The Income-tax Department has carried out search and survey operations on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. During the search, evidence of huge suppression of income has been unearthed. Evidence related to manipulation and under-valuation of share transactions having tax implication of about Rs. 350 crore has been foundThe Income-tax Department has carried out search and survey operations on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. During the search, evidence of huge suppression of income has been unearthed. Evidence related to manipulation and under-valuation of share transactions having tax implication of about Rs. 350 crore has been foundtaxmann.com Latest Statutory HappeningsRead More

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