The Karnataka film industry was left shocked last week, when the Income Tax officials raided over 20 places of renowned film stars, film producers and filmmakers. The raid was conducted by around 200 officials and it has resulted in some whopping amount that has come to light as undisclosed income and the officials also ended up seizing about Rs. 11 crores. Although no names have been taken as of now, last week it was revealed that the raid happened in properties owned by celebrities like Sudeep, Puneeth Rajkumar and his brother Shivarajkumar, Rockline Venkatesh, Vijay Kirigandur, KGF star Yash, producer CR Manohar.
Further in a statement released in reports by the Income Tax officials, it has been clearly stated that they have got about Rs. 109 crores as undisclosed income during the said raid. This has also led the Income Tax Department to firmly warn all the Karnataka film industry folks to follow the guidelines and rules related to IT. They have asked them to make proper entries about the transactions and have also asked them to pay taxes on time.
The reports also claim that the IT department will also be taking proper action and launching cases and trials against the ones who have been caught in the web of tax evasion.
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