New Delhi: In a major crackdown on Chinese mobile companies, the Income Tax Department is conducting searches on leading Chinese mobile companies across the country.
IT raids on Chinese mobile companies across country
New Delhi: In a major crackdown on Chinese mobile companies, the Income Tax Department is conducting searches on leading Chinese mobile companies across the country.
Raids are ongoing in Delhi, Mumbai, Bengaluru, Greater Noida, Kolkata, Guwahati, Indore and some other places.[/caption]
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"Raids are ongoing in Delhi, Mumbai, Bengaluru, Greater Noida, Kolkata, Guwahati, Indore and some other places," said the sources, adding that some fintech companies were also covered in this search.
Chief executive officers of these companies are covered in this search and currently, they are being interrogated by Income Tax sleuths. Further, sources said the search was conducted on the intelligence inputs of huge tax evasion by these Chinese mobile firms.
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The search is being conducted on the intelligence inputs of huge tax evasion by these Chinese mobile firms.[/caption]
They were under the radar for a long time and when the income tax department got concrete intelligence of tax evasion then raids were conducted on these companies.
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According to sources, it is early to reveal details about the ongoing search as the sleuths are on job but a substantial amount of digital data evidencing evasion of tax has been found and seized.
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Mobile companies, including Oppo, Xiaomi and One Plus, are being covered in this search.[/caption]
Earlier in August, a Chinese government-controlled telecom vendor, ZTE was searched. Searches were conducted at a total of five premises of ZTE, including the corporate office, the residence of the foreign director, the residence of the company secretary, the account person and the cash handler of the company.
-PTC News
