Big B to pay Tax Dues worth Rs 1.66 crore
TNI Bureau: Big B Amitabh Bachchan will pay the tax dues worth Rs 1.66 crore on the income he earned through the popular game show Kaun Banega Crorepati (KBC) during 2001-02. He agreed to pay the tax after the Supreme Court asked him to respond a petition from the Income Tax department.
Earlier, the Bombay High Court had dismissed the petition of I-T department on February 29 last year. Later, the department had moved the apex court alleging that the actor in his income tax returns has filed for the assessment year 2001-02 showing his income to be about Rs 3.23 crore. But the Assessing Officer (AO) said that Big B had earned money of about Rs 26 crore from the TV show.
In fact, the high court had allowed Bachchan I-T exemption up to 30% of his total income of Rs 50.92 crore from the show after accepting his plea that said that being an artist he should be given tax relief under section 80 PR of the I-T Act.
However, the I-T department had challenged the high court order saying that relief will be given for those artists who are earning by performing shows outside the country or receiving money from foreign agencies. But Big B was not allowed for tax relief as he was anchoring for the TV show.