|Chennai||Rs. 28730.00 (1.13%)|
|Mumbai||Rs. 29740.00 (-0.13%)|
|Delhi||Rs. 29200.00 (0%)|
|Kolkata||Rs. 29350.00 (0%)|
|Kerala||Rs. 28000.00 (0%)|
|Bangalore||Rs. 28400.00 (0%)|
|Hyderabad||Rs. 28470.00 (-0.11%)|
Mumbai: The Income Tax department has issued a notice to Bollywood actor Shah Rukh Khan asking him to pay tax on the Rs 17.84 crore villa in the UAE, I-T sources said today.
He received the villa as a gift from a Dubai-based company during assessment year 2008-09 for promoting a real estate project.
In April 2009, Khan had filed returns declaring income of 126.31 crore for assessment year 2008-09. He said his income was from house, property, profession, capital gains and other sources.
The actor also included Dubai's signature villa in the returns, which is a part of The Palm, Jumeirah, as a gift given to him by Nakheel Public Joint Stock Company (NPJSC) on September 16, 2007.
According to the I-T department, the villa received by Khan under a gift deed from the Dubai-based company was in return for lending his name to promote the company. The department assessed that the villa was taxable and a notice was issued to Khan in November 26, 2010.
However, the actor replied saying the gift did not constitute his income from business or profession. The company also submitted a letter to the I-T department in October 2010, stating that Khan had not provided any professional services, I-T sources said.