Income Tax Investigations Continue on Prominent Tollywood Filmmakers for Third Day
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Synopsis
The Income Tax Department continues its raids on notable Tollywood filmmakers for a third day, focusing on producer Dil Raju and major production houses amid allegations of tax discrepancies relating to recent film revenues.
Key Takeaways
- Ongoing investigations by the Income Tax Department.
- Focus on Dil Raju and prominent production companies.
- Suspicion of tax evasion linked to film revenues.
- Raids at Mythri Movie Makers and Mango Media.
- Key financial documents under scrutiny.
Hyderabad, Jan 23 (NationPress) The Income Tax Department has extended its investigations into the premises of several prominent Tollywood filmmakers for a third consecutive day on Thursday.
The operations, which commenced on Tuesday, persist at the residence of renowned producer and Telangana Film Federation Development Corporation (TGFDC) chairman V. Venkata Ramana Reddy, commonly known as Dil Raju. Searches are taking place at multiple locations, including Dil Raju's home in Ujas Villas, Jubilee Hills, his office, and the properties owned by his family members.
Raids are also ongoing at leading production companies Mythri Movie Makers and Mango Media. Although the department has yet to release an official statement regarding the searches, it is suspected that discrepancies have been discovered between the revenues claimed from recent films and the associated income tax liabilities.
The investigations are focused on films such as ‘Pushpa 2: The Rule’, ‘Game Changer’, and ‘Sankranthiki Vasthunam’, which were recently released.
‘Game Changer’ and ‘Sankranthiki Vasthunam’ were produced by Dil Raju under the banner of Sri Venkateswara Creations. ‘Game Changer’, featuring Ram Charan and Kiara Advani, premiered on January 10. ‘Sankranthiki Vasthunam’, released during the Sankranthi festival last week, stars Venkatesh, Aishwarya Rajesh, and Meenakshi Chaudhary, and has achieved significant box office success.
Additionally, I-T searches were conducted at properties owned by Dil Raju’s family members, including his daughter Hansita Reddy, producer Sireesh, a co-owner of Sri Venkateswara Creations, and director Anil Ravipudi.
The investigation also targeted the assets of Mythri Movie Makers, the creators of ‘Pushpa 2’. The searches involved the residences of Mythri founders Naveen Yemeni and Yalamanchili Ravi Shankar, CEO Cherry, and other significant figures associated with the production house.
‘Pushpa 2’, starring Allu Arjun, was released last month and has reportedly grossed over Rs 1,500 crore. On Wednesday, I-T officials conducted a raid at the office of ‘Pushpa 2’ director Sukumar and other related locations.
The I-T officials were examining essential documents, such as balance sheets and income tax returns, while also inspecting bank lockers as part of their investigation.
Dil Raju’s wife Tejaswini was escorted to a bank on Tuesday, where lockers were accessed in her presence. Various teams from the I-T department were evaluating financial transactions related to the production houses.
Authorities suspect potential tax evasion and are meticulously verifying the documents. These searches are considered part of a broader investigation into alleged financial irregularities and unreported income. Officials are reviewing financial records and transactions to determine any possible tax evasion.
