Akshay Kumar has emerged as one of the top tax payers in bollywood, by paying a quarterly advance tax of Rs 6 crore. The actor, whose tax payment grew from Rs 4.5 crore in the corresponding period in 2009 to 2010’s Rs six crore, has others like Kareena Kapoor and Ranbir Kapoor for company in the club of celebs whose tax payments have risen year-on-year.
However, 2010’s October-December period does not seem to be so happy for celebs like Aamir Khan and Hrithik Roshan, whose advance tax payments have declined in 2010, an Income Tax source said. As against the Rs 4-crore in advance tax he had paid in 2009, Aamir Khan paid Rs 3.70-crore 2010 while Hrithik Roshan’s advance tax payment dropped by half to Rs 1-crore, the source said.
Ranbir Kapoor paid Rs 2.5-crore in advance tax versus 2009’s nil but the source was quick to point out that in 2009 the star from the Kapoor clan had chosen not to pay any advance tax in this period. However, the source said that these are preliminary numbers as the deadline for filing returns is on Wednesday.
Advance tax payment system is a way of staggered payment of taxes and is kept for the benefit of tax-payers who find issues arranging a large amount at the end of each fiscal. Generally, the advance tax payments – which happen on a quarterly basis, are seen as a barometer of the tax payer’s yearly income.