Shah Rukh Khan Alibaug Farmhouse Attached by I-T Department –
Shah Rukh Khan Alibaug Farmhouse Attached: The King of Bollywood, Shah Rukh Khan, who has a farmhouse in Alibaug, besides the ocean, has been temporarily attached by the Income Tax Department of India on Tuesday, 30th January 2018 under the Act of Benami Property Transactions Amended Act, 2016.
According to Income Tax Department, Shah Rukh Khan, through Deja Vu Farm, made an application for purchasing Agricultural land in Alibaug for farming. But subsequently, he has converted the agricultural land to build a Farmhouse for his personal use.
What is Benami Act?
“Under the Act, a Benami exchange or transaction implies any exchange in which property is exchanged to one individual for a thought paid or gave by someone else. The Act accommodates temporary connection and resulting reallocation of Benami properties, regardless of whether portable or enduring. It additionally considers prosecution of the gainful proprietor, the Benamidar and the Abettor to Benami exchanges, which may bring about thorough detainment up to seven years and a fine of up to 25% of honest estimation of the property.”
Alibaug Farmhouse Area –
Shah Rukh Khan’s farmhouse spreads more than 19,000 square meters and has amenities which includes a swimming pool, a private beach and a helipad. Apparently, the circle rate – the base cost at which any realty resource must be enlisted while being exchanged – is about Rs 14 crores.
Shah Rukh Khan Alibaug Farmhouse Attached Further Details –
Along these lines, another complaint was additionally filled at the Mumbai Police Station, affirming that Khan had infringement the laws of Maharashtra Tenancy and Agricultural Lands Act. The law states the exchange of agribusiness land to a non-agriculturist without the authorization of the Collector or the State Government.
The Bollywood Actor, Shah Rukh Khan, however, has a time period of 90 days, to file a reply of the issue before the Income Tax Department of India. In the event that the transaction expert affirms the connection, the I-T Department authorities can put a criminal activity too.