Mumbai: Actor Ajay Devgn, who is known for his simplicity and non-corrupt nature (on silver screen), is taking the income tax (I-T) department head-on on the issue of filed income tax returns.
Sources within the department have confirmed to India Today that while making an assessment of Ajay Devgn’s income tax (I-T) returns for the financial year 2013-14, the assessing officer (AO) came across with few suspicious transactions and income – which were not “tallying” with the returns filed.
“Actor Ajay Devgn was told to pay an extra amount of around Rs 6 crore by the department for that financial year. Instead of paying it, the actor decided to contest it and made an appeal in “high-pitched committee” of the Income Tax department in Mumbai,” the source said.
Without sharing much details about the case and the numbers under scanner, DS Saksena, the Principal Chief Commissioner of Income Tax (CCIT) – Mumbai Region said, “the actor is having an issue with the department in this particular case, and has gone for an appeal, last week”.
Kumar Mangat, person who handles Devgn’s business initiatives said, “It would be improper to share details, but it is true that Devgn has made an appeal before the I-T department. We are quite hopeful that we would win the case.”
The department is tight-lipped on this case, for reasons that it involves a film celebrity and now the matter is “subjudice” as well. The high-pitch committee would have the deadline of 60 days to give its opinion – either in favour of Devgn or against him.
Last year, for those taxpayers facing “high-pitched” assessments or unfair scrutiny by the I-T Department got a platform where they could attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms.
The Finance Ministry, through the Central Board of Direct Taxes (CBDT), had asked the department to create “local committees” comprising senior officers in each region, and has directed them to dispose such grievance and complaint petitions “within two months” from the end of the month in which such a petition is received.
An official said if a taxpayer is not happy with the Committee’s opinion, then like the normal channel he/she could approach the Commissioner of I-T (Appeals) and subsequently appeal to the Income Tax Appellate Tribunal, High Court and finally the apex court. “Same applies to Devgn, if he finds the opinion is not in his favour”, the official said.
At present, besides getting professional fees for his acting skills, Ajay Devgn is also into film production, brand endorsements, real estates business, etc.
Off late, when Telangana picked up Ajay Devgn as its brand ambassador, he had shown interest in investing in theme parks, resorts, water-based parks and the food processing sector. He is also believed to have expressed willingness to set up entertainment, media and creative city project in Amravati.
Also, in the latest developments in the Panama Papers leak, Ajay Devgn had bought British Virgin Islands (BVI) company Marylebone Entertainment Limited in 2013 and remained its director for a little over a year. In reply, the actor had confirmed that all legal procedures were followed to set up the company.