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Karan Johar at the head of the Dharma production house gets a tax break
Karan Johar can finally take a breath of relief and can spend time in peace. The actor, director and producer were leading a legal battle involving his production house, Dharma Productions, but the High Court decided to favor the director in this case.
The HC finally dismissed an appeal filed by the income tax department that allowed the production house to claim the crore of Rs 7 as an expense. Karan Johar had been successful, but if the case had been successful in favor of the income tax department, Dharma would have had to pay the amount.
In these cases, both date back to 2005-2006 – Kaal and 2008-2009. – Dostana. The production house of Karan Johar has risen by Rs. 2.67 crore, while positive impressions and advertising costs for Kaal and Rs 4.46 crores have been claimed as advertising expenses for Dostana.
According to TOI reports, Judges Akil Kureshi and Sarang Kotwal, of the division, ultimately dismissed the appeals filed by the department. The report states that the court observed that, although the department was correct in saying that expenses could not be claimed as a cost of production, another income tax section allowed these expenses to be met. Be claimed as professional expenses. As a result, the cumulative effect was that the production company could have claimed the amounts as expenses and not have to pay tax on the same product.
On the professional side, Karan Johar s & rsquo; Is involved in the production and realization of several projects. From one side, the director produced Student of the Year with Ananya Panday, Tara Sutaria and Tiger Shroff. The film will be the sequel to SOTY which marks the debut of Alia Bhatt, Varun Dhawan and Siddharth Malhotra. In addition to SOTY 2 Karan Johar also directs Takht which will feature Bollywood stars such as Kareena Kapoor Khan, Alia Bhatt, Anil Kapoor, Ranveer Singh, Janhvi Kapoor and others.
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