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Nokia India in a Rs10,000-crore tax muddle news
30 January 2013

Nokia India is reported to have cheated the exchequer to the tune of Rs10,000 crore through violation of transfer pricing norms, failure to deduct tax at source and misrepresentation of the company's accounts, CNBC-TV18 reported quoting income tax officials.

While the exact amount of tax evasion is yet to be quantified, income tax officials in Chennai investigating the ''misrepresentation'' of accounts by cell phone maker Nokia has said the company has ''violated all laws'', including transfer pricing norms.

I-T officials who raided Nokia's plant in Chennai and its corporate office in Gurgaon on 8 January have unearthed evasion of nearly Rs3,000 crore on TDS (tax deduction at source) alone.

Tax officials also questioned Nokia's auditors PwC in Chennai over the last three weeks before finalising an interim report.

The income tax department has submitted a 150-page interim report to its headquarters in Delhi detailing tax violations by Nokia, reports quoting tax officials said.

The income tax department would collect Rs3,000 crore on account of TDS violation by February end or March first week.





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Nokia India in a Rs10,000-crore tax muddle