Lagatar24 Desk
New Delhi, Dec 22:
The Income Tax Department is conducting searches on big Chinese mobile businesses around the country. According to sources, mobile companies Oppo, Xiaomi, and One Plus are being covered in the searches.
The raids which began on Tuesday, have resulted in the seizure of over two dozen locations.
“Raids are happening in Delhi, Mumbai, Bengaluru, Greater Noida, Kolkata, Guwahati, Indore, and other locations and search also includes some fintech firms,” according to the sources.
This search includes the chief executive officers of these companies, who are now being probed by Income Tax investigators.
The search was carried out based on intelligence reports of massive tax fraud by major Chinese mobile companies. The enterprises had been operating under the radar for some time, and when the Internal Revenue Service received actual evidence of tax avoidance, they were searched.
Sources claim that a large amount of digital data proof pointing to tax evasion has been discovered and seized.
Earlier, Chinese government-controlled telecom vendor ZTE was searched in August. Searches were conducted at five premises of ZTE, including their corporate office, the residence of the foreign director, the residence of the company secretary, the account person and the cash handler of the company.
