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Breaking Xiaomi, Oppo could face fines of ₹1000 crores for tax violations

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Mobile phone makers Xiaomi and Oppo can be fined Rs 1,000 crore for violating the law, sources in the Income Tax department said today after searches across India last week, underling that inflated expenses led to a reduction of taxable profits of over 1,400 crore.

The searches were carried out on December 21 in Delhi and 11 states - Karnataka, Tamil Nadu, Assam, West Bengal, Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Bihar, and Rajasthan.

 
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