Income Tax Department conducts searches in a major Telecom Group

Income Tax Department conducts searches in a major Telecom Group https://www.taxtmi.com/news?id=25155 Investigations disclosed unsupported cross border related party payments for technical services and royalties lacking substantiation of receipt, nature, or valuation, rendering those expense claims prima facie disallowable. The probe also identified profit shifting via understated margins in a software services entity and manipulation of accounting provisions to reduce taxable income; inquiries continue to determine appropriate tax adjustments. en-us Thu, 03 Mar 2022 15:43:56 +0530 Thu, 03 Mar 2022 15:43:56 +0530 TaxTMI RSS Generator Income Tax Department conducts searches in a major Telecom Group https://www.taxtmi.com/news?id=25155 Investigations disclosed unsupported cross border related party payments for technical services and royalties lacking substantiation of receipt, nature, or valuation, rendering those expense claims prima facie disallowable. The probe also identified profit shifting via understated margins in a software services entity and manipulation of accounting provisions to reduce taxable income; inquiries continue to determine appropriate tax adjustments. News - Thu, 03 Mar 2022 15:43:56 +0530 https://www.taxtmi.com/news?id=25155