Tech Giants Google, Facebook under IT Scanner over under reporting Indian revenues
IT dept finds that a lot of global companies operating in India were under-reporting their incomes to avoid paying a withholding tax. Google & Facebook are now under the scrutiny by IT dept for under-reporting their Indian revenues. The reported revenues were not commensurate with the magnitude of their advertising business within the country. A withholding tax worth 6% of their advertising revenues was brought by Modi govt.