I-T raids on Nagarjuna and Telugu film actors

Income Tax officials on Wednesday raided the office and residences of popular Telugu movie stars Akkineni Nagarjuna, Anushka and Ravi Teja. They also raided the Nagarajuna family-owned Annapurna Studios, residence of his brother and producer Akkineni Venkat and another producer Shiva Prasad Reddy of Kamakshi Movies. I-T department sources said that the raids were in connection with some real estate and other transactions which have found no reflection in the advanced tax payments made by them. Nagarjuna is one of the richest stars in the industry, commanding Rs 10 crore per film.
He has stake in a popular TV entertainment channel, a state-of-art Convention Centre in Hitech City and a chain of restaurants. I-T sources further said that they were looking into the money transfer between different accounts of these stars. A major land deal in the port city of Visakhpatnam is also under the scanner. I-T officials said that the raids were continuing.

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