Ash, Sachin windmills raise I-T storm

New Delhi: What do Aishwarya Rai, Sachin Tendulkar and Aamir Khan have in common? Well, the Income Tax department has just figured that out.

The three have come under the I-T department’s scanner after it was discovered that several big names have hijacked the 100 per cent tax exemption offered on investments in wind power or windmills to claim tax benefits.

The I-T department on Wednesday and Thursday surveyed premises in Pune and are questioning owners of windmills and equipment suppliers for information on people who have invested money in these mills.

The investigations revealed that several bigwigs Aishwarya, Tendulkar and Aamir have made and spent their millions and even managed to invest some for a rainy day.

After they finished all their options for investing in shares, gold, property and insurance, these big earners have found a great window for 100 per cent tax-free investment in windmills.

According to sources, both Ash and Sachin have invested funds into projects of alternative sources of energy in the Satara district of Maharashtra and in Jaisalmer in Rajasthan: namely, windmill projects.

According to reports, the two have invested in the upwards of Rs eight to nine crore each and have helped Suzlon Energy in installing two windmills each.

"Aishwaraya Rai invested the money in Jaisalmer two years ago, while Sachin Tendulkar followed a year later," Collector and District Magistrate of Jaisalmer was quoted as saying in a report.

According to senior officials of the District Electricity Board, during the past two years, Ash has collected some Rs 1.6 crore as returns on her investment, while Sachin has earned nearly Rs 80 lakh in the very first year of his investment.

"They may soon be investing more money in the windmill project in Rajasthan," an Electricity Board official said.

There are over 400 windmills in Jaisalmer alone, that collectively produce 150 megawatts of power.

"We have a population of 50,000. Since we do not have big industries, our needs are met by 35 megawatts of electricity. The rest of the power is put on the grid that supplies power to other parts of the state," the District Magistrate said.