Income Tax department wants Shah Rukh Khan to disclose offshore investments

While the centre is busy hunting the hidden assets of the rich and famous people of India, popular actor Shah Rukh Khan has received a notice from the income-tax department, asking him to disclose his offshore investments.

As per reports, Khan maintains investments in destinations like Bermuda, British Virgin Islands (BVI) and Dubai, which the department doubts could be offering him undisclosed wealth.

The notice was sent to Khan about a fortnight ago, under Section 131 of the Income-Tax Act, as per which the department is authorised to conduct enquiries. A concerned person told ET that the department officials are investigating details deeper than just the names of his investments in tax havens, like activities of these outfits, the decision-makers, directors, etc.

Other than Khan, a few other known industrialists are also sent similar notices, for keeping undisclosed investments, so that they have the chance to come clean with their investments, since the government has decided to seriously consider bringing back the black money to India.

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