New Delhi: The Income Tax Department is conducting nationwide searches against major Chinese telecom companies, including Xiaomi, Oppo And oneplus, as part of the investigation relating to the alleged concealment of income.
Sources said the operation, which began on Tuesday and continued on Wednesday, covered over a dozen places, including Bengaluru and Gurgaon.
The latest action follows a similar operation which includes ZTE, the Chinese equipment and handset seller, who had allegedly dumped some objectionable data. Some contract manufacturers and sellers for these Chinese players are also under investigation.
While separate probes have been launched by other economic agencies, income tax sources have not ruled out the possibility of multi-agency probes against some companies.
Although the tax department usually releases information on searches on an almost daily basis, on Wednesday it decided to remain silent.
In an emailed statement, a Xiaomi spokesperson said: “As a responsible company, we attach paramount importance to ensuring that we comply with all Indian laws. As an invested partner in India, we We are cooperating fully with the authorities to ensure that they have all the necessary information.”
A separate statement from Oppo said: “As an invested partner in India, we highly respect and comply with the law of the land. We will continue to fully cooperate with the relevant authorities in accordance with the procedure.”
With Chinese telcos facing action around the world, the government has also reimposed norms to allow Indian service providers to buy equipment only from “trusted sources”, a move that is likely to be banned. have hope Huawei and ZTE from the Indian market.
In recent months, Chinese companies have been under the lens with several apps already banned in the country and action ordered against e-commerce companies that were selling goods in India.
Soon after the outbreak of Covid-19 last year, FDI The rules were tightened to allow companies from China and other countries to share land borders with India only through the approval route. Apart from this, there is also a ban on awarding government contracts to Chinese companies.
Sources said the operation, which began on Tuesday and continued on Wednesday, covered over a dozen places, including Bengaluru and Gurgaon.
The latest action follows a similar operation which includes ZTE, the Chinese equipment and handset seller, who had allegedly dumped some objectionable data. Some contract manufacturers and sellers for these Chinese players are also under investigation.
While separate probes have been launched by other economic agencies, income tax sources have not ruled out the possibility of multi-agency probes against some companies.
Although the tax department usually releases information on searches on an almost daily basis, on Wednesday it decided to remain silent.
In an emailed statement, a Xiaomi spokesperson said: “As a responsible company, we attach paramount importance to ensuring that we comply with all Indian laws. As an invested partner in India, we We are cooperating fully with the authorities to ensure that they have all the necessary information.”
A separate statement from Oppo said: “As an invested partner in India, we highly respect and comply with the law of the land. We will continue to fully cooperate with the relevant authorities in accordance with the procedure.”
With Chinese telcos facing action around the world, the government has also reimposed norms to allow Indian service providers to buy equipment only from “trusted sources”, a move that is likely to be banned. have hope Huawei and ZTE from the Indian market.
In recent months, Chinese companies have been under the lens with several apps already banned in the country and action ordered against e-commerce companies that were selling goods in India.
Soon after the outbreak of Covid-19 last year, FDI The rules were tightened to allow companies from China and other countries to share land borders with India only through the approval route. Apart from this, there is also a ban on awarding government contracts to Chinese companies.
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