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Report of BBC admitting tax evasion by showing low income in India


- BBC has to follow legal process: CBDT

- BBC will have to file an amended return due to under-reporting of income of Rs 40 crore

New Delhi: There are reports that BBC has admitted to Tax Evasion in India. The BBC admitted that it had paid less than its liability in India. The BBC is under the income tax radar. Its offices in Delhi and Mumbai were raided by income tax authorities a few months ago. He has not yet filed the revised return.

Besides, he has not given anything in writing to the Income Tax Department. The Income Tax Department, without naming the BBC, alleged that the revenue and profits shown by the units of some organizations did not present a true picture of their operations in India.

He said that the survey found that tax was not paid on some remittances. These incomes are not shown as remittances by groups of foreign entities. At the time the BBC said it was cooperating with the authorities.

In other words, the BBC has in a way admitted that it underreported its income in India.

The BBC has to follow the procedure for filing an amended return. For this he has to pay the outstanding amount, penalty and interest. This amount is in crores.

According to senior officials, the UK government-funded broadcaster has admitted in an email to the CBDT that it has underreported revenue of Rs 40 crore. This e-mail has not received legal authorization yet. The BBC will be forced to file an amended return to take the matter seriously.

Another official said that the law in the country is equal for all. There is no reason to give relief to any media company or foreign entity. BBB has to work as per legal provision. Legal proceedings will continue till the matter is brought to a logical end.



This post first appeared on 24x7 Breaking NEWS, please read the originial post: here

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Report of BBC admitting tax evasion by showing low income in India

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