BBC admits to underreporting Rs 40 crores of Income in Tax returns in India
October 2, 2023
  • Circulation
  • Advertise
  • Careers
  • About Us
  • Contact Us
Organiser
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • G20
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
MAGAZINE
No Result
View All Result
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • G20
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • G20
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • International Edition
  • RSS in News
  • Magazine
Home International Edition News

BBC admits to underreporting Rs 40 crores of Income in Tax returns in India

According to an email sent to the IT department, BBC admitted to underreporting their income, which was found equivalent to evading tax and is punishable by both recovery and fine.

by WEB DESK
Jun 7, 2023, 09:30 am IST
in News, Europe, Bharat
FacebookTwitterWhatsAppTelegramEmail

The UK’s national broadcaster, British Broadcasting Corporation (BBC), is accused of tax evasion as per the material evidence found by the Income-Tax Department. The IT department’s action against BBC is based on material evidence, according to two officials from the Central Board of Direct Taxes (CBDT), who are aware of the development but asked to remain anonymous, as per the report.

The broadcaster must now adhere to proper procedures, which include submitting updated returns and paying any unpaid fees, fines, or interest. The BBC has also admitted that it may have underpaid its tax obligations. They have allegedly not reported Rs 40 crores income.

According to an email sent to the IT department, BBC admitted to underreporting their income, which was found equivalent to evading tax and is punishable by both recovery and fine. BBC must follow and comply with the legal process by filing revised returns and paying all dues, penalties, and interests, which is around in crores, as per the CBDT official.

A Senior official said that the UK government-funded broadcaster confessed to not reporting the Rs 40 crore of income in its tax returns, as per the email sent to CBDT. He states that the email doesn’t have any legal sanctity, and if BBC wants to be taken seriously, they need to file a revised return.

Another IT official asserted that neither media companies nor foreign entities would be given any preferential treatment under the law of the land, which is the same for everyone in the nation. The official states, “BBC must act as per the stated procedure or face the law. The Department will continue to take action against it until the matter is taken to the logical conclusion”.

The London-based broadcaster first attempted to give the idea that the Income-Tax Department’s action was the result of a vendetta by the government after airing a contentious documentary about the Gujarat riots.
The officials states, “Now, they informally accept they were involved in deliberate tax evasion and the action was against their unscrupulous behaviour”. As per the officials investigating the case states that the BBC is fully cooperating in the investigation and hopes the situation is resolved as soon as possible.

Also Read: BBC’s reporting ‘venomous’, IT dept should be allowed to do its job: BJP on Tax survey

In February, the Income Tax Department conducted a survey operation at the BBC Delhi and Mumbai operations for tax evasion investigation. The department officials have seized phones and laptops as a part of the survey.
The department’s survey covers the business premises of the media giant and does not include the residencies of the corporation’s directors or promoters. The IT department alleged BBC has been non-compliant under transfer pricing rules; persistent and deliberately violative of transfer pricing norms.

Also Read: How British Govt’s propaganda tool BBC violated foreign exchange rules – Know the latest investigation by ED

Even the Enforcement Directorate (ED) filed a case against the BBC in April under the Foreign Exchange Management Act, 1999 (FEMA) for violation of Foreign Direct Investment (FDI) regulations issued by the Department for Promotion of Industry and Internal Trade (DPIIT). As per the official sources, the action was taken to probe irregularities of foreign funding by BBC India, diversion of funds and violation of rules under the FEMA, 1999.

Topics: British Broadcasting CorporationIncome tax departmentCBDTEDForeign Exchange Management ActFDIITBBCForeign Direct InvestmentDepartment for Promotion of Industry and Internal TradeFEMADPIITtax evasionCentral Board of Direct Taxesit department
Share1TweetSendShareSend
Previous News

Can exercise reduce a person’s genetic susceptibility to disease?

Next News

Karnataka: Poll-driven Power Freebies may lead to a DISCOM Disaster

Related News

Kerala: ED raids houses of former PFI Workers

Kerala: ED raids houses of former PFI Workers

BBC’s anti-India agenda exposed: Peddled disinformation that HEC made components for Chandrayaan 3

BBC’s anti-India agenda exposed: Peddled disinformation that HEC made components for Chandrayaan 3

Kerala multi crore cooperative bank fraud: ED raids in nine places; CPM in deep soup

Kerala multi crore cooperative bank fraud: ED raids in nine places; CPM in deep soup

Jal Jeevan Mission scam: ED seizes unaccounted cash, gold bar at raids in Rajasthan

Jal Jeevan Mission scam: ED seizes unaccounted cash, gold bar at raids in Rajasthan

Kerala: Again in drug trafficking spotlight as DRI seizes 3.5 kg ganja, 1.75 kg heroin worth Rs 44 crore

Kerala: Again in drug trafficking spotlight as DRI seizes 3.5 kg ganja, 1.75 kg heroin worth Rs 44 crore

CBI Launches Probe into Alleged Bribery Scandal Involving ED Officials and Business Tycoon

CBI Launches Probe into Alleged Bribery Scandal Involving ED Officials and Business Tycoon

Load More

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

Farm Laws: A pending national agenda

Farm Laws: A pending national agenda

Bihar Caste Census Result Declared: 27 per cent OBC, 36 per cent are extremely backward class; BJP slams State Govt

Bihar Caste Census Result Declared: 27 per cent OBC, 36 per cent are extremely backward class; BJP slams State Govt

Sanatan Dharma: The eternal and ever changing

Sanatan Dharma: The eternal and ever changing

Narendra Modi – A Phenomenon in Global Leadership

Narendra Modi – A Phenomenon in Global Leadership

Bihar: Senior doctor Nurul Kalam of district hospital apprehended for molesting intern female in Muzaffarpur

Bihar: Senior doctor Nurul Kalam of district hospital apprehended for molesting intern female in Muzaffarpur

Sanatan Dharma: Universal vision for humanity

Sanatan Dharma: Universal vision for humanity

Kerala and Tamil Nadu: Treading on the path to forge new alliances

Kerala and Tamil Nadu: Treading on the path to forge new alliances

Swachh Bharat: Paving the way for ‘Swasth Bharat’

Swachh Bharat: Paving the way for ‘Swasth Bharat’

Kerala: Multi Crore (CPM-led) Karuvannur Cooperative Bank Scam: State govt promises to raise Rs 100 crore

Kerala: Multi Crore (CPM-led) Karuvannur Cooperative Bank Scam: State govt promises to raise Rs 100 crore

Relevance of Swadeshi in Amrit Kaal

Relevance of Swadeshi in Amrit Kaal

  • Privacy
  • Terms
  • Cookie Policy
  • Refund and Cancellation
  • Delivery and Shipping

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Africa
    • North America
    • South America
    • Europe
    • Australia
    • Global Commons
  • Editorial
  • Opinion
  • Analysis
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Entertainment
  • More ..
    • Sci & Tech
    • Vocal4Local
    • Special Report
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Politics
    • Law
    • Economy
    • Obituary
    • Podcast
  • Subscribe Magazine
  • Advertise
  • Circulation
  • Careers
  • About Us
  • Contact Us
  • Policies & Terms
    • Privacy Policy
    • Cookie Policy
    • Refund and Cancellation
    • Terms of Use

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies