Amitabh compares IT Dept to death, says 'can't escape'

Mumbai, Jan 9: After hosting the successful television show 'Kaun Banega Crorepati',

superstar

has not only re-established himself as the most successful actor of all time but he himself became a billionaire.

Now, Income Tax Department is claiming that the veteran actor owes to it Rs 1.66 crore as taxes on the income he earned through his show 'Kaun Banega Crorepati' during 2001-02. On Tuesday, Jan 8, Supreme Court issued a notice to the superstar over tax dues.

The senior Bachchan on Wednesday said that he was ready to pay all his taxes. He also said that like death, one cannot escape IT Department.

"There are two things in life that one will have to face - death and IT Department. Both are inevitable. In any case I will follow the Court's order," Bachchan told reporters at the first promo of upcoming film Jolly LLB.

The Bombay High Court had dismissed the IT Department's plea on Feb 29, 2012 after which the department moved the Supreme Court. The IT Department in its petition had alleged that the actor in his returns filed for the assessment year 2001-02 showed his taxable income to be about Rs 3.23 crore while the Assessing Officer (AO) assessed the money earned by Bachchan to be around Rs 26 crore including the amount he had earned from the TV show.

Earlier in 2008, the High Court had allowed I-T exemption on 30 per cent of Bachchan's total income of Rs 50.92 crore from the show. The High Court had accepted the actor's plea that being an artiste he should be given tax relief under Section 80 RR of the Income-Tax Act.

The I-T department in its appeal had challenged the order on the ground that the relief is for those artistes who either earn by performing outside the country or receive payment from foreign agencies. It was submitted by the I-T department that Bachchan was acting as an anchor in the television programme show for Star India Ltd and cannot be termed artiste for his role in the show.

OneIndia News