Multiple tax raids on Chinese telecom firm Huawei in India
On Wednesday, the Income Tax Department conducted searches at multiple premises of Chinese telecom major Huawei in the country as part of a tax evasion investigation.
According to the official sources, financial documents, account books, and company records were looked into as a part of the investigation and some records were seized.
As per sources, the Income Tax Department had started the raids on Tuesday which is still going on. The source said that the raids were being conducted in the National Capital Region (NCR), Bengaluru, and some other parts of the country.
The elite officials of the IT team scanned a number of account books belonging to the company. Financial records of the last three years and company records were also checked. The IT officials prepared a list of associates, clients, and partners of the company which includes its foreign and country-based partners.
The company has said that it is following Indian laws but didn’t indulge in any tax evasion. It said it will cooperate with the Indian authorities.
“We have been informed of the visit of Income Tax team to our office and also of their meeting with some personnel. Huawei is confident our operations in India are firmly compliant to all laws and regulations. We will approach related government departments for more information and fully cooperate as per the rules and regulations and follow the right procedure,” a statement from the company read.
Last year too, the tax department had conducted searches against Chinese mobile communication and handset manufacturing companies like Xiaomi and Oppo and their linked persons and claimed to have detected alleged unaccounted income worth over Rs.6,500 crore due to violation of the Indian tax law and regulations.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.