About 100 IT official has made a search at TV and film producer Ekta Kapoor’s residence, her office Balaji Telefilms Tuesday early morning and after extensive search it was found that Ekta Kapoor has evaded Rs. 30 crores taxes in various forms. The television queen has agreed to pay 30 crores tax. The IT department also carried raid at veteran actor Jeetendra who is the chairman of Balaji, as well as Tusshar Kapoor’s residence who is the director. Shobha is the managing director (MD), Ekta is joint MD.
"Taxes were evaded by augmenting cost during the production stage of the various projects undertaken by the company in the last six years. Also a property bought and sold by company wasn't according to the existing realty rate and the land development costs were inflated to show lesser profits", sources told.
During interrogation, Mrs Kapoor, said that she is not involved with the financial management of the company. According to reports, to avoid tax, her company had inflated the costs of its different projects whose value is much higher than what is recorded in their book.
Ekta Kapoor has produced many TV soaps over the years which is aired on various channels and few years back, she ventured into film production. Her latest movie, ‘Shootout At Wadala’ releases today worldwide.
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