More film stars under IT scanner for tax evasion

Sunday, July 24, 2011: According to recent reports more film stars are under the observation of the Income tax department and can also face trouble over undisclosed financial dealings and income tax evasion.

With the raids conducted at the offices and residences of superstars Mamooty and Mohanlal the IT department has send a clear message to the others in the film industry.

The reasons for the raids are the discrepancies in the returns submitted by the stars and the producers and allegations of amassing wealth disproportionate to their income. The department also observed the spread of the business empires of the duo as well the increase of their properties including land.

The IT officials have said that the two stars were under observation for three months. The department also thinks that with the star-raids the filmdom has become more alert on filing tax returns.

The It-officials received definite indication of income suppression by Malayalam actors Mohanlal and Mammootty during the day-long raids on the actors’ residences, offices, business establishments and properties.

According to a senior I-T department official, the raids which began around 6 am, were carried out on 20 premises of the stars in Thiruvananthapuram, Kochi, Chennai, Ooty and Bangalore.