IT Raids on Pushpa 2 Collections
IT Raids on Pushpa 2 Collections: Mythri Movies & Sukumar Under Scrutiny
IT Raids on Pushpa 2 Collections
The Income Tax (IT) department has intensified its investigation into the film industry by conducting extensive raids on Pushpa 2 collections. For the second consecutive day, IT officials targeted key production houses, including Mythri Movie Makers, Sri Venkateswara Creations, and Mango Media, as part of their financial scrutiny. The primary focus is on verifying revenues and tax compliance for the much-anticipated blockbuster, Pushpa 2.
According to reports, Pushpa 2 has reportedly earned over ₹1,700 crore so far, making it one of the highest-grossing films in Indian cinema. These impressive figures have prompted IT officials to thoroughly examine the film’s financial details, including its budget, revenue streams, and profit margins.
Nearly 55 IT officials conducted coordinated inspections across Hyderabad, focusing on the records of Mythri Movie Makers and the film’s director, Sukumar. The authorities are reviewing contracts, box office collections, and international distribution rights to verify the accuracy of the reported earnings.
The blockbuster success of Pushpa 2 has raised questions about tax compliance and the transparency of revenue declarations. Officials are assessing whether taxes have been duly paid on the income generated from domestic and international box office collections, merchandise, and OTT rights.
Additionally, the IT department is investigating the investments and profit-sharing agreements between producers and distributors to ensure all financial transactions adhere to legal standards.
The producers of Pushpa 2 have maintained that all financial records are transparent and compliant with tax regulations. They have assured full cooperation with the IT department during the inspections.
The raids have sent shockwaves across the Telugu film industry, as they could set a precedent for tighter financial scrutiny in the future. Industry insiders believe that these inspections might lead to increased accountability and transparency in managing film revenues.
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