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Income Tax Focus On Telugu Producers?
By: Tupaki Desk | 7 May 2018 1:32 PM GMT
A producer releases a poster that their film has grossed Rs.100 crores. Another producer says that their film collected Rs.64 crores gross in just two days. Another producer comes up with Rs.200 crores collections poster as well. The people from the other industries are surprised to see this kind of collection figures for regional films.
The figures revealed by trade pundits and box office collections websites are different from these posters. Their figures give us an indication that the collections on the posters are different from the actual figures. In such a scenario, why the producers are exaggerating their collections figures? Whether they are considering the consequences of these bloated figures? What if Income Tax official keep an eye on these developments?
Actually, the IT officials are closely following the collection figures as per the information. It is to be remembered that there were reports in the media that there are differences in the payment of taxes after GST implemented.. some producers even received notices from the IT department a few months ago. As some producers are boasting about their movie collections and coming up with grand posters, IT officials are observing them whether the producers are paying the taxes as per their advertised collections.
They are ready to cross-check the collection figures they are announcing with actual tax they are paying. They are going to collect data not only from producers but they will collect data from ground level as well. They are going to check whether buyers and distributors are paying the taxes as per the rules or not. So, there is a talk going on in the film circles that the producers who are boasting about their collection figures will have to face the music from the IT.
The figures revealed by trade pundits and box office collections websites are different from these posters. Their figures give us an indication that the collections on the posters are different from the actual figures. In such a scenario, why the producers are exaggerating their collections figures? Whether they are considering the consequences of these bloated figures? What if Income Tax official keep an eye on these developments?
Actually, the IT officials are closely following the collection figures as per the information. It is to be remembered that there were reports in the media that there are differences in the payment of taxes after GST implemented.. some producers even received notices from the IT department a few months ago. As some producers are boasting about their movie collections and coming up with grand posters, IT officials are observing them whether the producers are paying the taxes as per their advertised collections.
They are ready to cross-check the collection figures they are announcing with actual tax they are paying. They are going to collect data not only from producers but they will collect data from ground level as well. They are going to check whether buyers and distributors are paying the taxes as per the rules or not. So, there is a talk going on in the film circles that the producers who are boasting about their collection figures will have to face the music from the IT.
