Mobilenews24x7 Bureau
Now the nation wants to know what exactly the BBC documentary ,centering allegedly on the Prime Minister of India has made so much noise that the IT raids in the BBC office has gone over 22 tlll the time this report is made.
Broadly speaking it it not known what the IT sleuths are looking for and what can be defined on Transfer/Pricing is all about.
Reports say that the offence is the “non-compliance with the transfer pricing that the BBC flouted. The term is little alien and whether it deserves a big raid is a different matter.
It is obvious that no organization either outside the country or inside, law must be applied to all. Yet the opposition has apprehensions about the timing of the raid on BBC having explicit swipe at the role of the then chief minister of Gujarat Narendra Modi (present PM).
“The income authorities conducted a survey on the BBC premises in Delhi, in view of the BBC’s deliberate non-compliance with the Transfer Pricing Rules and its vast diversion of profits. It is pertinent to note that the above exercise conducted by the tax authorities, is called a ‘survey’, not a search/raid as per the provisions of the Income Tax Act.” allowed to leave.“Such surveys are routinely conducted and are not to be confused in the nature of a search/raid,” a note shared by the IT officials read.
Which has invited several reactions from tax experts. If “diversion of profits”/”transfer pricing” may be a tool to legitimize the survey in public opinion is what has come out from certain quarters . That could have been done in a regular manner than calling it a survey Allege Transfer Pricing Violation .
For a common man’s grasp what Is Transfer Pricing?“Transfer pricing refers to the prices of goods and services that are exchanged between companies under common control,” according to Corporate Finance Institutes reportedly.
Even some finance experts seem to think that a survey for transfer pricing rule violations is unnecessary is bit too much.
Anyway, atfter almost 22 plus hours raid, if that can be said so, nothing much has come out except two words ‘Transfer Pricing’
