India court says ByteDance should deposit US$11 million in tax evasion case

MUMBAI: An Indian court on Tuesday said China's ByteDance must deposit around US$11 million that federal authorities believe the company owes in an alleged case of tax evasion, a setback for the firm which wanted to unblock its bank accounts to pay salaries.

An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India as it probed some of the firm's financial dealings. ByteDance challenged the move in court saying the freeze amounted to harassment and was done illegally.ByteDance has said in court it does not owe the tax government is demanding and does not agree with the tax authority's decision to freeze its accounts.

After a government counsel said ByteDance owed the authorities about 790 million rupees , the High Court in Mumbai said the company will need to keep that amount blocked in a state-run bank.However, the four blocked bank accounts of ByteDance had just US$10 million in funds, according to the company's court filing seen by Reuters.

Still, the company has told the court it has a workforce of 1,335, including outsourced personnel, which includes 800 people working in its"trust and safety" team that supports activities like content moderation overseas.In the tax probe, which started in July 2020, India's tax authority told ByteDance it had reasons to believe the company suppressed certain transactions and claimed excessive tax credits, Reuters has previously reported.

Quite cheap

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