Salman Khan continues to be at the top while comedian Kapil Sharma, producer and director Karan Johar, and actor Alia Bhatt have emerged as new entrants in the list of top ten Bollywood celebrity advance-tax payers for the financial year 2016-17, according to official data.
Khan has paid an advance tax of Rs 44.5 crore for 2016-17, up 39 per cent from Rs 32 crore one year ago. His film Sultan, released last July, was one of the biggest Bollywood hits last year, earning over Rs 500 crore worldwide. Khan was followed by Akshay Kumar, who paid Rs 29.5 crore as advance tax for the year. Kumar, who had three straight hits this year, including Rustom and Jolly LLB 2, had paid Rs 30 crore advance tax a year ago.
Kapil Sharma, who has locked horns with the Brihanmumbai Municipal Corporation (BMC) over a demolition notice on certain “illegal” portions of his residence in Goregaon, has paid an advance tax of Rs 23.9 crore, up 241 per cent from Rs 7 crore. Karan Johar has paid Rs 11.7 crore as advance tax this fiscal, compared to Rs 2 crore one year ago.
Advance tax is paid by individuals if the tax liability on estimated income is likely to exceed Rs 10,000 during the financial year. This tax liability is calculated after considering tax deducted at source (TDS). According to norms under the Income-Tax Act, non-corporate assessees have to pay 30 per cent of their total advance tax in the second quarter, followed by 30 per cent and 40 per cent in the next two quarters, respectively, on their projected earnings.
Deepika Padukone, Alia Bhatt and Kareena Kapoor Khan have paid advance tax of Rs 10.25 crore, Rs 4.33 crore and Rs 3.9 crore, respectively, this fiscal.
Source – Indian Express
15th Meeting of the GST Council to be held tomorrow, 3rd June, 2017 – Approval of amendments to the draft GST Rules and related forms and Finalisation of the rates of tax and cess on the remaining commodities are on the Agenda among others for tomorrow’s meeting.
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