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Prasar Bharati has been exempted from paying any income tax, with the smooth passage of the Finance Bill in the Lok Sabha. As per one of the amendments in the Finance Bill, 2012 which was passed by the Lok Sabha on 08.05.2012, “any income of Prasar Bharati (Broadcasting Corporation of India)” is now mentioned among entities who will not have to pay tax.
Though the Prasar Bharati does not pay income tax currently since it does not earn profits, the exemption comes as a big relief.
The public broadcaster will also be spared of the financial burden of engaging tax consultants and chartered accountants.
The official said that Prasar Bharati worked in national interest and the drain of its resources was ultimately being borne by the government.
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What is the provision of VAT and Service Tax applicable on the payments made to applicants by Prasar Bharti for telecasting their films on DD- National, India, Urdu etc. Only TDS is deducted from the payments made by Prasar Bharti. ——- awaiting reply