IT RAID: IT raids on the premises of actress Rakul Preet Singh and Vasu Bhagnani

IT RAID: Mumbai. The Income Tax Department is conducting searches at several Mumbai locations linked to Bollywood actress Rakul Preet Singh, her father-in-law and well-known film producer Vashu Bhagnani, and production company Panorama Studios. Following reports of suspicious financial transactions, separate teams from the department are conducting investigations at various premises.

Special teams of the Mumbai Income Tax Department have simultaneously raided approximately 12 locations in the city. Investigating officers are thoroughly examining financial records, ledgers, bank account statements, and documents related to foreign transactions from the relevant premises in recent years to detect any financial irregularities.

Suspicion of sending funds abroad in the name of films

The department has been receiving reports for some time that large sums of money are being remitted abroad under the guise of film shooting, foreign distribution, and production expenses. Investigating agencies suspect that this entire process involves widespread tax evasion and illegal misappropriation of funds, often in violation of regulations.

The investigation by officials of the Revenue and Tax Department is currently underway. It is expected that after the examination of all documents and digital records is complete, the department will share crucial information regarding the actual extent of financial irregularities, undisclosed assets, and tax evasion uncovered in this case.