The film features scenes which closely resemble sequences from Singin' in the Rain, Project A, Charlie Chaplin in The Adventurer, Buster Keaton's Cops and The Notebook, while Pritam's music appears to be influenced by Amelie.
In an interview on TV show Headlines Today, NDTV Movies reports that Basu defended his film by saying: "If I would have changed the shot, twisted things around and made it my own it would have been stealing.
"I did shot-to-shot because they are famous iconic shots and scenes from famous masterpieces, every filmmaker knows them."
The director described the film as a homage to Chaplin and drew parallels with last year's 'Best Film' Oscar winner The Artist, which paid tribute to the silent era in Hollywood.
Speaking on the TV show, image consultant Dilip Cherian expressed his concerns about how the film might represent Indian cinema on a global platform.
"The fact is that critics will start wondering at which stage does plagiarism end in Indian movies and at what stage is it inspiration."
The story of the unique relationship between a deaf-mute boy and an autistic girl, Barfi! was selected as India's official entry to the Oscars from 19 films including The Dirty Picture and Gangs of Wasseypur.
Chair of India's Oscar selection committee Manju Borah defended picking the film, saying: "We selected Barfi! because of its treatment and freshness. In any case, every filmmaker is inspired by some cinema."
Three Indians films have previously reached the final shortlist stage in the foreign film category at the Oscars, namely Mother India in 1958, Salaam Bombay! in 1989, and Lagaan in 2002.
Basu recently said Barfi! deserved to be selected for the Oscars.
The film has received widespread critical and audience acclaim earning Rs.100 crores at the box office.