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The finance ministry has notified that the equalisation levy (popularly known as Google tax) introduced in this budget, will come into force from June 1. As of now, it will apply to payments for online advertisements made by Indian business entities to non-residents (such as Google, Yahoo, Twitter, Facebook) where the aggregate payment in a financial year to a non-resident exceeds Rs 1 lakh. Only B2B transactions attract this levy.




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