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American TV show Quantico starrer Priyanka Chopra, has invited trouble from the Income Tax department. She has been served a notice by the department pertaining to irregularities during an I-T raid in 2011. According to the Income Tax department, it is mandatory for the actress to pay tax on some luxury items she received as gift.
Income Tax Department isn’t saving anyone nowadays . Indeed, even film Celebrities can’t gloat about the costly gifts they got any longer without paying the taxes . In the same way Bollywood Top actress Priyanka Chopra was approached to pay taxes for a vehicle and luxury watch however priyanka chopra claims to have gotten them as gift .
The Income Tax Appellate Tribunal (ITAT) declined to engage Priyanka Chopra claims that LVMH-TAG watch worth Rs 40 lakh and Toyota Prius Car worth Rs 27 lakh were gifts from the organizations offering them yet not an professional income . Overall, the orders have been a mixed bag for priyanka Chopra .
Some issues, such as addition to her taxable income for notional rent from her penthouse or a gift of jewellery worth Rs 17.06 lakh from the production house, Red Chillies Entertainment, have been remitted back to the I-T officials for a fresh relook, as the ITAT agreed that the additions were not based on any incriminating material seized during the search operations.
According to 28 (iv) of the I-T Act, Benefit in any shape from business or proffession are taxable . Amid the evaluation year 2007-08, LVM-TAG Watches offered an expense of Rs 1.40 crore and an luxury watch to Priyanka Chopra for modelling and advancements for a two year time frame .
For the money related year 2009-10, Income Tax Appellate Tribunal maintained the expansion of Rs 27 lakh (worth of Toyota Prius Car) to Priyanka’s wage by the Income Tax Official .