According to persons acquainted with the situation, Indian actor Amitabh Bachchan, whose NFTs are listed on Beyondlife.club, an NFT marketplace, has paid roughly 1 crore ($136,000) in taxes after authorities issued a notice.
The Directorate General of Goods and Services Tax Intelligence (DGGI) in Hyderabad was researching the platform and discovered irregularities.
Bachchan paid the tax owed on the sale of non-fungible tokens (NFTs) worth roughly Rs 7 crore ($1 million) after receiving a follow-up notice.
BeyondLife.club is a collaboration between Rhiti Entertainment and GuardianLink.io, a no-code NFT trading platform. For the sale of his NFTs, Bachchan has teamed with Rhiti Entertainment.
The megastar’s recital of poems from Madhushala, his father Harivansh Rai Bachchan’s renowned collection of poems, punks dubbed Big B, digitized historical posters of his performances in Indian films, and posters with signed moments are among the NFTs.
Bachchan paid the tax owed on the sale of non-fungible tokens (NFTs) worth roughly Rs 7 crore ($1 million) after receiving a follow-up notice.
BeyondLife.club is a collaboration between Rhiti Entertainment and GuardianLink.io, a no-code NFT trading platform. For the sale of his NFTs, Bachchan has teamed with Rhiti Entertainment.
The megastar’s recital of poems from Madhushala, his father Harivansh Rai Bachchan’s renowned collection of poems, punks dubbed Big B, digitized historical posters of his performances in Indian films, and posters with signed moments are among the NFTs.
The tax investigation is ongoing, according to D. Purushottam of the DGGI’s Hyderabad division.
No reaction was given by Bachchan or anyone involved with Rhiti Entertainment.
The Directorate General of Goods and Services Tax Intelligence is in charge of detecting and collecting tax evasion.
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