Tax Dept. conducts search on two major mobile manufacturing Cos; more than Rs. 5500 crore are under scanner

The Income-Tax Department has carried out search and seizure operations on two foreign-controlled Mobile Communication amp; Mobile Hand-set Manufacturing Companies and their associated persons. The search action has revealed that they have made remittance aggregates to more than Rs. 5500 crore, which does not seem appropriate in light of the facts and evidence.The Income-Tax Department has carried out search and seizure operations on two foreign-controlled Mobile Communication amp; Mobile Hand-set Manufacturing Companies and their associated persons. The search action has revealed that they have made remittance aggregates to more than Rs. 5500 crore, which does not seem appropriate in light of the facts and evidence.taxmann.com Latest Statutory HappeningsRead More

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