SRK pays Rs 27 cr advance tax

Shah Rukh Khan will be the highest income-tax payer from Bollywood for the second year in a row. He has paid advance taxes of Rs 27 crore till December 15, 2007, said sources, putting his income for 2007-08 at over Rs 100 crore. It is a glittering jump from the money he made the previous fiscal when he paid a modest Rs 18 crore in tax.

2007 has been a particularly prosperous year for Shah Rukh Khan, who has often called himself “priceless’’. He has not only had two mega hits under his belt - Chak De, India and Om Shanti Om , which he also produced - but also earned Rs 1 crore for every episode of Kaun Banega Crorepati .

In the income-tax stakes, SRK is far ahead of the competition. Hrithik Roshan, who paid Rs 15 crore last year, had no releases in 2007 though his endorsement list has grown longer. Aamir Khan, who paid Rs 6 crore last year, released only one film, Taare Zameen Par , and is known to have taken the distribution rights as part of his remuneration. He has paid advance taxes worth Rs 3 crore.

While Amitabh Bachchan paid Rs 8 crore in income tax last year, his advance tax payment until December 15, 2007 was only Rs 1.8 crore. Bachchan, who is said to have upped his fee in 2008, is no more among the highest paid actors but his endorsement roster is still a blue-chip one.

Among those who have paid a high advance tax this fiscal are Akshay Kumar (Rs 7 crore, although there have been media reports in the recent about the actor paying tax of Rs 26 crore) and Himesh Reshammiya (Rs 2.5 crore). The singer charges Rs 5.5 crore as a composer and actor. Abhishek Bachchan has paid Rs 3.7 crore (much higher than his returns the previous year) while his wife Aishwarya Rai has paid Rs 1.6 crore. Close behind Rai is actor Kareena Kapoor with Rs 1 crore in advance tax.

On the corporate entertainment front, Zee Entertainment Enterprises Pvt Ltd paid advance taxes worth Rs 70 crore. They have done the maximum buying of films in 2007 including hits like Om Shanti Om and Taare Zameen Par . Hindustan Thompson was next (Rs 6 crore) followed by Balaji Telefilms (Rs 4.5 crore), Shah Rukh Khan’s Red Chillies (Rs 3 crore) and Amitabh Bachchan’s company AB Corporation (Rs 2.4 crore).

Eros Entertainment, which bought the worldwide distribution rights of Om Shanti Om for a whopping Rs 70 crore from Shah Rukh Khan, had deducted Rs 7 crore in tax deducted at source in this transaction alone.

TNN