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India fines Nokia for tax evasion, Court Grants Stay

Posted by Nisha Dwivedi News | Current Affairs Mar 28, 2013
Tags: Nokia, Tax, India
The Finnish phone maker Nokia is blamed of avoiding taxes and is been slapped with the fine of Rs2000 crore by Indian tax authorities.
The Income Tax department (India) has smashed an Rs2000 crore demand notice on Finnish mobile firm maker Nokia for suspected delay of taxes in its business transactions in the country, reports Times of India.

The tax demand was issued on March 15 but the order was acknowledged by the company last week. An immediate stay was issued on the demand, allowing Nokia to appeal the decision.

Nokia did not completely reject the charges, but instead repeated its position claiming it is in full compliance with local laws. The IT department will soon file its reply in the Delhi High Court declaring the provisions that allow it to issue a time-bound notice. The notice has been issued by the I-T department after it completed its probe and had conducted a 'survey' operation on the premises of the Chennai in January this year.

Nokia said on Thursday that it will protect itself against the tax demand, but it is willing to cooperate with tax officials for a quick resolution to the matter.

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