International ecommerce portals in india to be taxed!
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The taxman is on the loose on international web portals. If you have an ecommerce portal (this includes the tonnes of travel sites as well) hosted abroad (i.e. with servers based in foreign countries) but with a base in India — whereby users can subscribe or pay and buy goods and services — will be liable to pay tax in India!
How did this happen? In response to an appeal filed by Singapore-based Cargo Community Network Pte Ltd, which runs Ezycargo, an air cargo portal an Authority for Advance Ruling (AAR) decision was made which directed that payments made by an Indian subscriber for using a portal of a foreign company will be subject to deduction of tax at source.
So internet portals will have to pay tax to the indian government now.. But considering the amount of money that is to be made with teh internet booming! I guess its only fair..
Source: Rediff News
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