SRK’s Off-Shore Investments Under Income Tax Dept. Scanner

Shah Rukh Khan was earlier named to be the second richest actor in the world. Recently, the Fan star has received a notice from the Income tax department in regards to his off-shore investments.

The actor is known to have property in Bermuda, British Virgin Islands and Dubai. The notice has been sent to several celebrities and business tycoons for disclosure of their hidden wealth.

This step is being taken by the government under the strict application of IDS – Income Declaration Scheme.

The Section 131 of the Income-Tax Act empowers tax authorities to conduct inquiries.