In a remarkable display of earnings and contributions to the nation’s coffers, Bollywood superstar Shah Rukh Khan has emerged as the highest celebrity taxpayer for the fiscal year 2023-24. According to a recent report compiled by Fortune India Magazine, Khan paid an impressive advance tax sum of Rs 92 crore, securing his place at the top of the ‘Star Cast’ list, which ranks celebrities based on their advance tax payments.
Trailing behind Shah Rukh Khan, though by a significant margin, is Tamil cinema’s beloved actor Vijay, affectionately known as ‘Thalapathy’ by his fans. Vijay contributed Rs 80 crore in advance taxes, which positions him in second place on this esteemed list. The Bollywood film industry remains dominant in this ranking, with prolific actor Salman Khan following Vijay in third place, having paid Rs 75 crore in advance taxes for the same period.
Amitabh Bachchan, a legendary figure in the Indian cinema, secured the fourth spot on the list with an advance tax payments totaling Rs 71 crore. This veteran actor continues to be a substantial contributor to the economy through his impressive earnings.
From the world of sports, former Indian cricket team captain Virat Kohli stands out as the highest taxpayer among cricketers, having paid Rs 66 crore in advance tax for the fiscal year 2023-24. Kohli’s substantial tax contribution marks a significant intersection of sports and finance, underscoring his status not just as a cricketing luminary but also as a financial heavyweight.
“Shah Rukh Khan tops the list of celebrity taxpayers in FY24 while Tamil superstar ‘Thalapathy’ Vijay moves ahead of the likes of Salman Khan, Amitabh Bachchan, and Virat Kohli to emerge second (Advance Tax payment, FY24),” Fortune India remarked in their recently published list.
The Bollywood industry further demonstrated its lucrative nature, with several other notable names making it onto the list. Ajay Devgn, a consistent performer in Indian cinema, paid Rs 42 crore in advance tax, while the youthful and versatile Ranbir Kapoor contributed Rs 36 crore. The list also includes Hrithik Roshan with Rs 28 crore, Kapil Sharma with Rs 26 crore, Kareena Kapoor with Rs 20 crore, and Shahid Kapoor with Rs 14 crore in advance tax payments.
Expanding beyond Bollywood, the Southern film industry’s significant contributors include actors Mohan Lal and Allu Arjun, both of whom paid an impressive Rs 14 crore each in advance taxes.
. The emerging Bollywood star Kiara Advani also featured prominently on the list with a tax payment of Rs 12 crore.
Interestingly, female actors like Katrina Kaif and versatile actor Pankaj Tripathi each contributed Rs 11 crore in advance taxes, showcasing that women in Indian cinema are no less when it comes to financial contributions. Meanwhile, Aamir Khan, another stalwart of Bollywood, paid Rs 10 crore during the fiscal year.
Cricketing legends also have their share of noteworthy tax contributions. M S Dhoni, an icon both on and off the field, paid Rs 38 crore in advance taxes. Meanwhile, Sachin Tendulkar, often hailed as the ‘God of Cricket,’ and Sourav Ganguly, another cricketing legend, paid Rs 28 crore and Rs 23 crore respectively.
Adding to the impressive list from the world of cricket are Hardik Pandya with a tax contribution of Rs 13 crore and Rishabh Pant who paid Rs 10 crore. These hefty sums from cricketers further illustrate the substantial financial footprint made by sports personalities in India.
This list not only highlights the immense earning potential of India’s top celebrities but also reflects their compliance and contribution to the financial health of the nation through substantial tax payments. It reaffirms the fact that the entertainment and sports sectors continue to be significant financial engines, contributing billions to the Indian economy.
The comprehensive report published on September 6, 2024, by Fortune India Magazine offers a fascinating glimpse into the financial dynamics of India’s favorite celebrities. It showcases how the top earners in entertainment and sports are also leading contributors to the country’s tax revenues, playing a pivotal role in nation-building initiatives.
As these celebrity taxpayers continue to dominate both their respective fields and the financial charts, their contributions reiterate the often-overlooked aspect of their lives – their substantial role in the economic fabric of India.
