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For a 3 crore movie, losses are 4 crores
By: Tupaki Desk | 13 March 2015 6:23 AM GMT
Ace director and producer, veteran Dasari Narayana Rao has voiced his opinions strongly against Income Tax department making a scene out of IT raids on film celebs on the time. He stated there is only hype around film celebs that they earn crores of rupees, but in reality there are no such heavy profits here.
“The only industry where loses are 4 crore if we invest 3 crores is film industry. IT Dept., thinks that there is huge money here, but that’s only hype. Governments and officials should give tax allowances to film celebs rather running after them”, Dasari said.
Tax officials are quick to counter what Dasari said at the IT summit. “Among 2340 celebs who fall under tax-pay zone, nearly 1000 persons are paying it. We’re taxing those who get profits not everyone”, they said.
“The only industry where loses are 4 crore if we invest 3 crores is film industry. IT Dept., thinks that there is huge money here, but that’s only hype. Governments and officials should give tax allowances to film celebs rather running after them”, Dasari said.
Tax officials are quick to counter what Dasari said at the IT summit. “Among 2340 celebs who fall under tax-pay zone, nearly 1000 persons are paying it. We’re taxing those who get profits not everyone”, they said.
