Who dont pay tax India?

Who dont pay tax India?

2.5 Lakhs annually (which cover the overwhelming majority of the country) are exempt for paying any income tax. Those earning between Rs. 2.5 Lakhs and 5 Lakhs are subject to 5 per cent tax; those earning between 5 Lakhs and 10 lakhs rupees, 20 percent tax; and those above 10 lakhs, a 30 percent rate.

Does Amazon India pay tax?

Companies such as Google, Facebook and Amazon have created structures whereby they end up paying no taxes in India as profits are swiftly moved to tax havens.

Who paid most tax in India?

The Bollywood actor Salman Khan ranked as the highest known tax payer across India in 2017, with advanced tax payments of 445 million Indian rupees. Akshay Kumar followed suite with tax payments worth 295 million rupees that year.

Why was Flipkart registered in Singapore?

Customs duty – Singapore being a transit and trade hub has limited import duty on only a few items like Petroleum products, tobacco etc, and NO export duty. Compared to India, that contributes to a lot of savings given that Flipkart will have a lot of foreign vendors (for electronics, fashion apparels).

Does FB pay tax in India?

From October 2018, Facebook ads in India will be sold by Facebook India, billed and paid for in Indian rupees, and subject to a goods and services tax (GST) and tax deducted at source (TDS). This update affects all ad accounts that have their business country set to India.

Is Facebook taxed in India?

However, they pay an equalisation levy of 6 per cent on their advertising revenue and digital transactions. “Any such appointments are recognised as ‘auxiliary duties’ in tax terms where appointments are made for regulatory purposes.

Is Flipkart an Indian company?

Flipkart is a Singaporean company. So, pay the taxes! The AAR said that “In this particular case, gains were made by transferring shares of a Singaporean company. Not an Indian company.” That’s right.

What is the difference between Singapor E and Flipkart India?

Flipkart India is the entity that owns most of the capital assets. The shares that were sold to Walmart — that’s Flipkart Singapor e, not Flipkart India. But the India-Mauritius tax treaty agreement is only applicable to the transfer of shares of Indian companies.

Why is Mauritius taxing your capital gains from India?

Now, Indian authorities won’t tax the gains you made via the transaction. Instead, you’ll be taxed in Mauritius. But since Mauritius does not tax capital gains, you get away without paying capital gain tax. So you got the answer to why Mauritius.

Who is Tiger Global Investing in Flipkart?

Tiger Global was one of the earliest investors in Flipkart. They held 22\% of the company until 2018 when they sold about 17\% to Walmart’s Luxembourg entity FIT Holdings. This transaction was valued at over INR 14,500 Cr. But Tiger Global had made its investments through funds based out of Mauritius.