Rakul Preet Singh, Vashu Bhagnani, Ali Abbas Zafar & Panorama Studios Under IT Scanner; Income Tax Department Searches At 12 Locations | Mumbai Income Tax Department Searches 12 Locations Linked To Bollywood Producers Ali Abbas Zafar, Drishyam 3 Panorama Studios, Vashu Bhagnani & Others

Bollywood Producers Under IT Scanner: In a major development, Rakul Preet Singh, her father-in-law and veteran producer Vashu Bhagnani, along with several other Bollywood producers, have come under the Income Tax Department’s scanner. According to reports, the Mumbai Income Tax Department conducted simultaneous searches at multiple locations on Monday (today, September 28).

Income Tax Dept Searches 12 Locations Linked To Rakul Preet Singh, Vashu Bhagnani & Other Bollywood Producers

The Mumbai Income Tax Department carried out simultaneous searches at 12 locations on Monday, reportedly linked to Panorama Studios, Drishyam 3 producer Kumar Mangat Pathak and veteran producer Vashu Bhagnani, amid an investigation into suspected tax evasion and alleged overseas fund transfers.

According to Bollywood Hungama, a separate search was also reportedly underway at filmmaker Ali Abbas Zafar’s office. Multiple Income Tax teams conducted the operation across offices and other premises in Mumbai, with the probe reportedly centred on suspected financial irregularities and possible tax-law violations.

As reported by The Free Press Journal, the department is believed to have received inputs alleging that significant amounts were being sent overseas under the guise of film production costs, shooting expenses and international distribution. Officials are now examining the related financial transactions to determine whether the alleged remittances breached tax regulations and whether any income was concealed to avoid taxation.

It is important to note that the searches are part of an ongoing investigation, and the authorities have not announced any final findings or conclusions at this stage.