HYDERABAD: The Income Tax officials carried out searches for the third day in a row at the residences and offices of the film producers, and directors, a few prominent filmmakers for suspected tax evasion on the income generated in the making of high budget movies in Tollywood.
Sources stated that the I-T officials completed searches in director Sukumar’s residence who allegedly has a share in Pushpa 2 The Rule and the teams reportedly found evidence of evasion of tax on income in the recent movie. The source stated that the raids took place at the residences and properties of Dil Raju and Mythri Movie Makers Yerneni Naveen, Yalamanchali Ravi Shankar and CEO Cherry.
The sources stated that the income tax officials verified the tax returns, balance sheets and the financiers’ agreement for the Pushpa 2 movie. Sleuths found unaccounted funds that have not been reported in tax return. The department is likely to issue notices to movie makers seeking an explanation.
While the searches were going on at Dil Raju’s residence, his mother fell ill and the officials took her to hospital. There was nothing to worry about her condition, said sources.
The sources stated that the searches are likely to conclude on Friday. The next step would be to summon Dil Raju and his family members for an explanation for the discrepancies in the tax returns.