Update system to curb tax evasion in entertainment sector, Public Accounts Committee tells I-T Department

A Parliamentary panel has asked the income tax department to continuously update its mechanism to curb tax evasion in the fast growing entertainment sector. The sector in the recent past has expanded into new segments like OTT, podcasts, audio books and gaming apart from the traditional modes such as television, radio, cinema, music and sports.

The Public Accounts Committee (PAC) opined that increasing affluence and changing lifestyles have contributed towards making the Indian entertainment industry a sunrise sector for the economy, with high potential for increased revenue generation.