service tax News
Has Adnan Sami’s ex-wife Sabah Galadari left him bankrupt?
The troubled Pakistani singer asks for more time to pay service tax of Rs 10 lakh, saying he’s bankrupt because of legal battles with his ex-wife and helpless as his account has been frozen by the RBI
Pakistani singer-composer Adnan Sami, much loved in Bollywood, has been courting trouble in India lately. He is not only fighting a legal case against his ex-wife Sabah Galadari, but is also under the scanner for staying in the country without a visa. Click here to read more
Yamla Pagla Deewana director Samir Karnik arrested, granted bail
Karnik was held for service tax evasion to the tune of Rs 1.18 crore. Producer Sunny Deol has paid Rs 86 lakh of his tax dues and so could evade arrest
Samir Karnik, director and co-producer of the first film of the Yamla Pagla Deewana (YPD) franchise of the Deols, was arrested in Mumbai on August 23 by the Service Tax department. He was released on bail last evening after coughing up Rs 2 lakh. The filmmaker has not paid service tax to the tune of Rs 1.18 crore, said Sameer Wankhede, Deputy Commissioner of Service Tax. Click here to read more
Bollywood stars upset over service tax hike
The government has decided to levy a 12.36 percent service tax on Bollywood actors. This decision has not gone down well with our B-town stars, of course, and they have been venting their anger on social networking sites
Let’s make the math easy. Every time Salman Khan walks away with Rs 27 crore for a film (his estimated acting fee), the government will snatch away Rs 3.37 crore in the name of service tax. Click here to read more
BUDGET 2012: Bollywood gets exemption from service tax
The film industry won’t go on strike as planned earlier, after some tax relief in Union Budget 2012
Producer Mukesh Bhatt is delighted with the government’s decision to exempt the film industry from service tax. Filmmaker Goldie Behl termed it positive news. Post “the best gift” from Finance Minister Pranab Mukherjee while presenting the budget for 2012-13 in the Lok Sabha on Friday, the industry has no plans to go on strike – as it had threatened to on the tax issue. Click here to read more
Bollywood strike on February 23 called off
The Bollywood strike on February 23 to protest against the imposition of a service tax on the film industry has been called off after a meeting with Finance Minister Pranab Mukherjee, industry officials said Tuesday. “This strike has been called off. We had a meeting with the finance minister and he has asked us to wait till the budget,” producer Ratan Jain said. “He understood our problem and we decided not to go for a strike till March 16 until the budget comes out. So, all the multiplexes and Bollywood will continue to move on without any strike on February 23,” he added.
Film & Television Producers Guild of India vice-president Mukesh Bhatt also said that after the positive meeting with the finance minister, they have decided to remain patient till the budget. “His hands are tied right now and I will respect that. I am glad about the fact that he heard our plea patiently and has asked us to wait till the budget,” he said, adding they will wait till March 16 and then take a decision on their future course of action. The industry seems to be relieved with this decision.Click here to read more