Saturday, January 15, 2011

When will Bollywood stars respect their legal responsibilities?

This is not the first time that the Bollywood celebrities top the list of those who have tax payments due and nonetheless, it shocks us no less. Bollywood actors have larger than life images and their fans adore and look up to them.
Among the celebs who feature in the list of Stamp Duty Evasion list are cricketer Sachin Tendulkar and Bollywood actors like Kareena Kapoor, Bipasha Basu, Fardeen Khan and Suneil Shetty feature in the Stamp Duty evasion list. These celebrities are most sought after names in the advertisement world and have signed mega endorsement deals between the period of 2006 - 2009. Under article 5(H)(A) of the Bombay Stamp Act 1958, duty needs to be paid on signing any endorsement contract, this duty can either be paid by the company itself or the celebrity that is endorsing the product.
For the year 2008, Bipasha Basu had Rs. 37,500 due as the stamp duty. Her penalty due was Rs. 48,750 which makes her total outstanding (as of 2008) dues as Rs. 86,250. For the same year, Kareena Kapoor had her stamp duty due at Rs.1,85,000. Her penalty due was Rs.1,31,450 which made her total outstanding (as of 2008) dues to Rs. 3,16,450. It is high time that Bollywood stars realize their social and legal responsibilities.
kareena kapoor

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