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The income-tax (I-T) department has decided to scrutinise tech giants such as Google and Facebook to check underreporting of their revenues in India, which are not commensurate with the scale of their advertising business in the country, Business Standard has learnt.
Taxmen have come across instances where global firms — charged a withholding tax of 6 per cent (known as equalisation levy) — are underreporting the exact income they earned from an Indian user.
In India, these companies aren’t subject to a corporation tax of 40 per cent that foreign companies have to pay, but 6 per cent collected from advertisers on
