Concerts trending in IT department, Glare on Managers gets notice for Underreporting of Income

The income tax department is investigating event management companies suspected of evasion through underreporting and incorrect statement of income from overseas performances, as well as cash payments to vendors and contractors beyond the prescribed limit to escape the tax net.

Celebrities who have worked with these companies are also under scrutiny as the tax department has detected discrepancies in fees and payments. They organize events such as musical events, high profile weddings, ticketed stand-up comedy shows and overseas performances of artistes. 

“There is rampant underreporting of income by event management companies. We are closely monitoring the income declared by them, along with the actual payment made and expenditure by companies,” a senior official told

Authorities have been investigating tax evasion by event organizers since December 2023 and have conducted searches and sent notices to 11 companies regarding the issues.