A few days ago, Income Tax sleuths have raided on Producer cum distributor Sai Korrapati. Simultaneous raids were conducted on his offices and residences. These raids come after he delivering a small movie hit, Jyo Atchuthananda. However this had sent shivers down the spine of Janatha Garage Producers - Yerineni Naveen, Yalamanchili Ravi Shankar (Thammudu) and CVM (Mohan).
Their recent blockbuster, Janatha Garage is inching towards the 80 Crore Share and is the third biggest hit of all time in Telugu Cinema history. The Producers who are NRIs took the next flight to USA and have disappeared erasing all the records here. They have also stopped advertising the film collections so as not to attract the attention of the IT department.
Income Tax authorities are under pressure to achieve big targets fixed under the voluntary disclosure scheme meant for big firms and individuals and the deadline is September 30. As the deadline is nearing, they are also conducting raids so as to instill fear in black money hoarders. Even though, they do not hit the film producers, they are asking them to voluntarily disclose at least some portion of their profits as black money, so that they could reach their targets.
