Amitabh Bachchan
Who was the person who brought revolution in the Indian Television industry by hosting the first series of the popular game show Kaun Banega Carorepati? Was it A Amitabh Bachchan the actor, B Amitabh Bachchan the anchor, Amitabh Bachchan the person or D, someone else?
If you thought that this was gossip news or another question in the next segment of KBC, think again. Yes of course, it’s a question but contrary to a contestant of the quiz show, its answer probably will have to be found by a Supreme Court bench. Moreover, this is serious trouble for Amitabh Bachchan.
Acting on a petition filed by the income-tax department, the Supreme Court has issued notice to Mr. Bachchan in a case pending against the Bollywood Shehenshah, where it has said that the tax concessions given to him for his earning from the show KBC, are illegal and inappropriate.
It seems that while filing his income-tax returns, Mr. Bachchan showed the Rs. 50.92 crore as his income from his profession – acting. But, Mr. Bachchan faced trouble when challenging his claims, the income-tax department filled an application in the Bombay High Court, saying that since Mr. Bachchan represented himself in the show, the concerned income cannot be clubbed with the remuneration, which he receives from his acting profession.
Though the Bombay high court had ruled in favor of Mr. Bachchan, a fresh appeal has now been filed in the Supreme Court.
You may recall that all income earned as an artist is eligible fro rebate under the income tax act and Mr. Bachchan will receive this concession only if he is allowed to show his income from KBC as his income from acting profession. Now, if this income from KBC, which was largely responsible for bringing both Mr. Bachchan and his company ABCL out of the financial crises is taxed and not allowed to be shown as income from acting, it may actually put him back into problems.
The hearing on the matter will take place on October 28, this year.
Image Source: celebrities-walpapers-bollywood.blogspot.com
