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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.
www.ndtv.com
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.
Xiaomi, Oppo Violated Tax Law, Can Be Fined Rs 1,000 Crore: I-T Department
Mobile phone makers Xiaomi andOppo canbe fined Rs 1,000 crore for violating the law, the Income Tax department said today aftersearches across India last week.
www.ndtv.com