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Aishwarya Rai Tax Problems

The Bombay High Court has admitted an appeal filed by the Income Tax authorities, challenging relief granted to Bollywood star Aishwarya Rai Bachchan by Income Tax Appellate Tribunal (ITAT). A Division Bench headed by Justice S Radhakrishnan admitted the appeal by IT authorities over Aishwarya’s tax assessment for the financial year 1996-1997.

Bollywood actress Aishwarya Rai has been dragged by the Income Tax commissioner to the court for falsely putting her Miss World prize money under the NRI status.

Aish reportedly won £50,000 (Rs.26 lacs) for winning the coveted peagent and got to keep all the money after she proved that she was a Non-Resident Indian (NRI). but, it is discovered now that she showed just 92 days of absence in her case as against the 186 days, the time for which she was out of India.

“In 2000, during a search and seizure on her premises, the I-T department found that her passport showed her to be a resident as against her claim of being an NRI during the assessment year.”

What’s interesting is that the tax amount which was Rs.14 lacs in 1996 is now Rs.50 lacs including all the interest!
Now, that’s a big amount… I wonder what’s going to be the outcome of the case which is now showing to be strongly poised against the actress.

In other news, Aish is quite worried these days besides her tax problems as father-in-law Amitabh is still in hospital She has canceled all her shoots for some time. She was supposed to be shooting in Brazil for Shankar’s ‘Robot’ but is attending to her responsibilities dutifully in Mumbai.

The IT authorities moved to HC following ITAT’s last year decision quashing an IT department decision to reopen Aishwarya’s tax assessment. IT Department’s lawyer Benny Chatterjee argued that Aishwarya’s income is not being questioned, but her getting exemption under NRI category is questionable.

The key issue is whether Aishwarya - who had won Miss World title just then - could claim to be a Non Resident Indian for that period, he added. Aishwarya had declared her taxable income for the the FY 1996-97 to be 2.14 lakh.

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