Bytedance Told To Pay $11 Mn In Unpaid Taxes As Court Dismisses Plea
The Mumbai high court dismissed a plea by ByteDance over the freezing of its accounts and directed the company to deposit around $11 Mn that authorities believe the company owes in unpaid taxes. However, the four blocked bank accounts of ByteDance carries only $10 Mn in funds, according to the companyâ€™s court filing. The matter relates to an allegation by the Indian tax authorities of tax evasion by Bytedance, which led to a freeze on the accounts of the company. Indian authorities had earlier blocked at least two bank accounts of Bytedance for allegedly evading taxes. In its court filing on March 25, ByteDance told the court that authorities acted without any material evidence and gave no prior notice, according to Reuters.