Good news for Aishwarya Rai, actress wins Rs 4 crore battle against…

It seems that the stars are on Aishwarya Rai Bachchan’s side these days. The actress, who is called the beauty queen of Bollywood, has recently won a big battle against the Income Tax Department. As per news reports, the actress saved Rs 4 crore with the Income Tax Appellate Tribunal (ITAT) Mumbai ruling in her favour. Read the whole story here!

Aishwarya Rai Wins Rs 4 Crore Battle

In the year 2022-23, Aishwarya Rai declared a total income of Rs 39 crore for that year’s assessment. However, her tax matters came under scrutiny, and she received a notice from the Income Tax Department. Despite providing clarifications, the tax assessing officer disallowed certain expenses linked to exempt income, citing Section 14A.

What Was the Case?

Back in October 2022, Aishwarya declared her total income as Rs 39 crore for the year 2022-23. She had voluntarily disallowed Rs 49 lakh, even though no expenses were actually incurred to earn exempt income. This pertains to Section 14A of the Income-tax Act, 1961, which prohibits taxpayers from claiming deductions for expenses associated with tax-exempt income.

Later, Aishwarya’s assessed income was raised to Rs 43.44 crore by the assessing office after Rule 8D was applied.

Later, Aishwarya’s assessed income was raised to Rs 43.44 crore by the assessing office after Rule 8D was applied, and Rs 4.60 crore was disallowed.

Aish’s representative argued and pointed out the incorrect calculation, and the tribunal agreed, stating that the disallowance was “without any basis” and deleted the excess disallowance. As a result, ITAT ruled in her favour, and the actress won the battle.

Aishwarya Rai Work Front

Coming to Aish’s work front, she was last seen in Mani Ratnam’s period drama Ponniyin Selvan: II, released in April 2023.