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Priyanka Chopra tried to evade taxes?
Bollywood actress Priyanka Chopra had been advised by ITAT, to pay the full taxes for the luxury items she contended to be gifts from her companies she endorsed and hence cannot be taxed.
Bollywood actress Priyanka Chopra had been advised by ITAT, to pay the full taxes for the luxury items she contended to be gifts from her companies she endorsed and hence cannot be taxed.
She received a 40 Lakhs Rupees worth Luxury watch from LVMH-Tag company and also a Luxury Sedan car from Toyota, worth Rs. 27 Lakhs. Both the items have been found taxable in a raid conducted on her office and residence in January, 2011.
They have taken into account all the income and expenditure details from January 2006-07, till 2011 January and found that she listed these two items as gifts and ordered her to pay the appropriate tax amounts.
But the actress appealed to Commissioner of Appeals and the officer rejected her plea and asked her to pay the taxes. Then, she approached ITAT Department. Finally, after going through long list her tax payable requisites and other liable assessments, they came to a conclusion that LVMH-Tag is a company and not a person to have emotional bonding with a person.
Hence, the actress who claimed the watch to be a gift of love that she received from her employer for her services, is asked to pay the appropriate tax amounts for the luxury amounts. Also, the IT officials are re-assessing all her claims during the time period which include a necklace gifted by Red Chillies Entertainment, valued at 17.60 lakhs.
