Bollywood's Swiss Bank Accounts Under Scrutiny
If you have always thought that it was only corrupt politicians who have Swiss bank accounts, then this news might shock you. The black money holders are not just the corrupt political leaders, Civil servants and tax evading businessmen, but Bollywood celebrities also seems to have Swiss connection.
If the highly placed Income Tax Department officers are to believe then 10 odd Bollywood biggies and five odd celebrities down in south hold Swiss Bank accounts. These accounts are under scrutiny.
I-T sources said, “Among the secret account holders are a couple of ‘A’ list stars who are on the verge of retirement, a few of whom have turned producers too. Apart from them, there are celebrities, who apparently have faded and are primarily doing television now. This trend is also seen common down south.”
Asked why none from the present generation is amongst the secret account holders, they said: “In the past, the trend has been such of investing black money in secret accounts. Gradually, it has changed into buying properties abroad or investing into business worldwide and earn profits. This seems to be an easy way of converting illicit wealth into white money and paying the deserving taxes for it.”
So can they disclose the names of these celebrities, but the officers denied doing so on the grounds of policy. “Under the policy, we cannot disclose the identity. Since the probe is on, revealing names would alert the account holders, who may smartly opt to close their accounts and escape investigations,” said an I-T official.