The 12-15-20 investment formula can make you a millionaire!

What is the 12-15-20 formula of investment? How does the 12-15-20 formula work? Which investment will give strong returns? How much of your income must you save?

The Madras High Court has recently imposed a fine of one lakh rupees on Tamil film star Vijay for evading the entry tax on his imported luxury car, Rolls Royce Ghost while dismissing his petition pleading for a relief in the same matter.

A reputed actor is “expected to pay tax promptly and punctually”, and can’t behave like just a “reel hero”, said a single Judge bench of the High Court.

Dismissing the petition of the actor, challenging the entry tax levied on the import of the high-end car from England in 2012, Justice SM Subramaniam directed Vijay to deposit the fine to the chief minister’s COVID-19 relief fund within two weeks of the order passed on July 8.

Justice Subramaniam noted: “In a state like Tamil Nadu where such actors have become rulers, they are not expected to behave (only) like a ‘reel hero’. Tax evasion is to be construed as an anti-national habit, attitude and mindset, and it is unconstitutional.”

The current market price of the car in India is around Rs 6 crore. Entry tax in Tamil Nadu is 20% of the cost of the car.

Court raps actor

The judge said the actor should respect the sentiments of lakhs of his fans who watched his films by paying for tickets. “It is only out of such money that the petitioner has purchased the ‘world’s prestigious’ car for his personal use,” the court noted.

Drawing a contrast between the real and “reel” images of “these actors”, Justice Subramaniam said that they portray themselves as champions of bringing social justice and their movies are against corruption in society, “but they are evading tax…”

“While the common man is motivated and encouraged to behave as a lawful citizen and pay tax…, the rich, affluent and reputed people fail to pay tax,” the judge said, adding that the court hoped “the petitioner and other similarly placed citizens of this great nation would pay their taxes in accordance with law”.

Published: July 14, 2021, 19:36 IST
Exit mobile version