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Big M's may be fined up to 18 crores

BaLaG

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According to the director general of Income Tax, E T Lukose, Malayalam superstars Mammootty and Mohanlal have an undisclosed incomes of about Rs.30 crore. This income was found to be invested in real estate and assets abroad.A Rs 2.8 crore worth cash and jewellery were also seized from the houses of both the actors while investments in immovable/movable properties made in foreign countries are also being investigated through appropriate channels. The value of antiques and priceless paintings seized from Mohanlal's houses are referred to experts for valuation.

As per the new reports, both the Superstars of Mollwyood will be forced to pay a fine of anything in between 9 to 18 crores for the undisclosed assets and income as per IT rules.

After the complete calculation is over, the actors will be given opportunity to give appeal, if they want. Also their will be opportunity to pay the fine before the Settlement Commission to avoid further actions that may be initiated against them.

The reports are that both the superstars were never keeping any clues or documents about their remunerations. It is also pointed out that the connection of the stars with a business magnet named Gulshan who used to buy the overseas rights of their films, has landed both the actors under suspicion.

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