3 celebrities raided for tax 'evasion'

TNN, Jan 25, 2011, 02.14am IST

MUMBAI: The investigation wing of the income-tax department on Monday raided the premises of three leading Bollywood celebrities, Priyanka Chopra, Katrina Kaif and Atul Kasbekar, for suspected tax evasion.

A total of 10 teams of 30 I-T officials raided 12 locations including the offices and residences of the trio. The department also sealed 12 bank lockers belonging to the glitterati and also collected bank statements, documents related to their properties and investments as well as details of their contract with endorsement companies and production houses.

"The tax evasion pertains to information about these celebrities receiving payments which were unaccounted for. Though they are paid by cheque, actors are paid in cash or given a gift of an equivalent amount for attending private parties or performing at weddings and even when they sign a film contract. A huge sum is then invested in various forms be it property, shares. We are now trying to ascertain this aspect," said an I-T official, adding they still have to check the contents of the lockers.

The I-T department is investigating whether the two actresses have paid taxes proportionate to their known sources of income during the past year.

Sources close to the actors said they were cooperating with the officials and it was too early to comment on the allegations but they hoped matters would reach an "amicable solution".

Both Priyanka and Katrina are not only two of Bollywood's highest paid actresses, but also command a huge price for brand endorsements with each one of them of having at least five to six top brands under their belt. An ad film-maker said, "As brand ambassadors both stand at par and demand the same amount of money too. Katrina's advantage is that she has a foreigner tag; Priyanka is an actor and this works in her favour."

Katrina stays in Guldev Sagar building on Waterfield Road at Bandra while Priyanka resides in Raj Classique building on Yari Road.

Priyanka's friend and actor Shahid Kapoor was present at the actor's residence when the I-T team reached the premises at 7.30 am, officials said.

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