Nokia faces a slap of Rs2000 crore notice from IT department...Top Stories

March 28, 2013 15:46
Nokia faces a slap of Rs2000 crore notice from  IT department...

Income Tax department slaps Rs 2000 crore notice on Finnish mobile firm Nokia for declaration of tax violation.

Fact-fully, Earlier in January Multi-national audit firm PricewaterhouseCoopers (PW and Co), auditors for Nokia India, was summoned by the Income Tax department to appear before it in connection with the alleged tax default by the Finnish handset maker's plant.

Moreover, IT department had on January 8 conducted a survey operation at Nokia's Sriperumpudur factory and said it had found prima facie defaults in TDS deductions on royalty payments made by the plan to its parent company. Nokia India had already said it was fully cooperating with the IT department to ensure officials get the necessary information.

It's a big blunder from Nokia that they had to face such a loud slap!

(AW:Samrat Biswas)

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