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Wednesday, June 7, 2023

ED registers FEMA case against BBC India

In a latest development in the BBC I-T raid case, the Enforcement Directorate (ED) has now filed a FEMA violation case against the news broadcaster, sources claimed on Thursday.

The ED filed the case against BBC India for irregularities in foreign funding.

In February, a team of the Income-Tax (I-T) Department carried out a ‘survey’ at the media conglomerate British Broadcasting Service (BBC)’s Mumbai studio and office in Delhi.

The BBC had said then that it was fully cooperating with the authorities. “The Income Tax Authorities are currently at the BBC offices in New Delhi and Mumbai, and we are fully cooperating. We hope to have this situation resolved as soon as possible,” BBC had said in a tweet.

After the surveys, the Income Tax department had said that it had found “several discrepancies and inconsistencies with regard to transfer pricing documentation”. It also said the income and profits shown by various BBC group entities were “not commensurate with the scale of operations” in India.

Now, the sources have claimed that on the basis of the I-T survey the ED has lodged a case of violation of Foreign Exchange Management Act (FEMA) against the BBC.

(This article has been published via a syndicated feed)

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