Netflix to move Income Tax Appellate Tribunal in Rs 196-crore tax evasion case
Netflix may move the Income Tax Appellate Tribunal over the Rs 196-crore tax evasion case, according to a media report. The Income Tax department’s international tax wing has accused the streaming giant of evading income tax amounting to RS 196 crore. Netflix’s decision to approach the tribunal came after the Dispute Resolution Panel earlier this year ruled in favour of the tax department. According to the IT department, Netflix generated Rs 503 crore from its India operations between April 2020 and December 2020. While Netflix has offered to pay Rs 13.36 crore, the department has calculated the amount to be Rs 490 crore, saying the operation carried out of India through PE arrangement in India is taxable, and so the tax amount should be Rs 196 crore. A Netflix spokesperson is quoted as saying “We fully adhere to tax laws and their requirements globally.”
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