{"id":5773,"date":"2019-07-10T08:06:08","date_gmt":"2019-07-10T08:06:08","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=5773"},"modified":"2019-07-10T08:06:08","modified_gmt":"2019-07-10T08:06:08","slug":"facebook-google-under-i-t-supervision-for-underreporting-revenues-in-india-report","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/facebook-google-under-i-t-supervision-for-underreporting-revenues-in-india-report\/","title":{"rendered":"Facebook, Google under I-T supervision for underreporting revenues in India: Report"},"content":{"rendered":"

Google and Facebook have come under scrutiny from the income tax\u00a0 department over under reporting of revenues from their India operations, as per a\u00a0report\u00a0in\u00a0Business Standard<\/em>.<\/p>\n

The two companies aren\u2019t subject to the 40 percent corporate tax charged paid by foreign companies. But such companies are needed to pay a withholding tax (or equalization levy) of 6 percent of their advertising revenues.<\/p>\n

Moneycontrol<\/em>\u00a0could not independently verify the report.<\/p>\n

Since India operations of these companies act as re sellers of their parent companies\u2019 services, these revenues reported in India hasn’t reflected the actual advertisement revenues earned from users in India, an I-T official told the publication.<\/p>\n

\n
The Central Board of Direct Taxes (CBDT) has asked the international taxation department to examine all receipts raised by the multinational firms ad verify them against the payments made, the report said.<\/div>\n<\/div>\n

The I-T department is also investigating whether such service providers are deducting tax properly, the report added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Google and Facebook have come under scrutiny from the income tax\u00a0 department over under reporting of revenues from their India operations, as per a\u00a0report\u00a0in\u00a0Business Standard. The two companies aren\u2019t subject to the 40 percent corporate tax charged paid by foreign companies. But such companies are needed to pay a withholding tax (or equalization levy) of […]<\/p>\n","protected":false},"author":1,"featured_media":1247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3833],"tags":[1804,2906,4132],"class_list":["post-5773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","tag-facebook","tag-google","tag-i-t-department"],"aioseo_notices":[],"yoast_head":"\nFacebook, Google under I-T supervision for underreporting revenues in India: Report - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/facebook-google-under-i-t-supervision-for-underreporting-revenues-in-india-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Facebook, Google under I-T supervision for underreporting revenues in India: Report - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"Google and Facebook have come under scrutiny from the income tax\u00a0 department over under reporting of revenues from their India operations, as per a\u00a0report\u00a0in\u00a0Business Standard. 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