Mumbai: Bollywood ‘Baadshah’ Shah Rukh Khan has been served with a notice by Income Tax Department. He was asked to report his international investments. However, sending a notice to the actor does not confirm that the actor has violated any law. The notice was issued under Section 131 of the Income-Tax Act, which empowers tax authorities to conduct inquiries.
If reports are to be believed, apart from Shah Rukh Khan, many other A-listers including industrialists, also received notices from the Income Tax Department about their investments in off-shore destinations.
According to reports, the IT department has asked Shah Rukh Khan to spell out his investments in Bermuda, British Virgin Islands (BVI) and Dubai. It is heard that the Income Tax Department is scrutinizing foreign investments of the Bollywood actors after the controversy of Panama Papers.
