Annapurna Studios, founded by the late Akkineni Nageswara Rao and now carried forward by Nagarjuna, and Ramanaidu Studios, established by the late D. Ramanaidu and continued by Suresh Babu, are two iconic pillars of the Telugu film industry. Both studios have played a crucial role in shaping Telugu cinema over the decades.
However, both these prestigious studios have now received a shock from the municipality regarding tax evasion in a shocking turn of events. Reports indicate that Annapurna Studios and Ramanaidu Studios have been paying significantly lower trade license fees than required.
Annapurna Studios, which should be paying ₹11.52 lakh as the annual trade license fee, has allegedly been paying only ₹49,000.
Similarly, Ramanaidu Studios, which owes ₹1.92 lakh, has reportedly paid just ₹1,900. The municipal authorities have issued notices to both studios, instructing them to pay the full trade license fee immediately.