Politics
BBC India Under Income Tax Scanner For Possible Violation Of Transfer Pricing Rules
BBC logo
The income tax authorities on Tuesday (14 February) conducted 'surveys' at the offices of BBC in Delhi and Mumbai.
The purpose of the survey was to ascertain possible violation by British broadcaster of country's transfer pricing rules and profit diversions.
The surveys at the BBC’s offices are being carried out under various provisions of the I-T Act, 1961 which gives the Income Tax Department the power to carry out “surveys” to collect hidden information.
BBC has been under the radar of Indian tax authorities for alleged non-compliant with the transfer pricing rules for an extended period, which has led to several notices being issued to the broadcaster
"Despite these warnings, the BBC has been remained defiant and non-compliant, indulging in the vast diversion of profits." according to sources aware of the development.
The survey has been initiated to investigate potential instances of price manipulation for unauthorized benefits, including tax advantages.
"The key focus of these surveys is to look into manipulation of prices for unauthorised benefits, including tax advantages. These surveys have been undertaken due to BBC’s persistent non-compliance of the norms, making it a repeat offender. " the source added.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
