Income Tax case against Shah Rukh Khan
The Income Tax department has filed a case against Bollywood actor Shah Rukh Khan in the Bombay High Court over his foreign earnings as a brand ambassador for the Swiss luxury brand Omega.
A commissioner of Income Tax has appealed against a December 2008 order of the Income Tax Appellate Tribunal (ITAT) which had allowed SRK’s appeal over permissible tax deduction under Section 80RR of Income Tax Act.
.In the year 2002-03, Shah Rukh Khan had declared an income of Rs 20 crore, which included Rs 29 lakh as foreign income for being the Omega brand ambassador. The IT assessment officer said the foreign expenses related to this income have also to be calculated.
For sometime now actors Shah Rukh Khan and Akshay Kumar are the highest Income Tax paying Bollywood stars.