The income tax department conducted raids in the premises of Chinese smartphone brands and fintech companies on grounds of suspected tax evasion, news agency ANI reported.
The raid was conducted on more than 25 locations including Delhi, Mumbai, Chennai, Bengaluru, Kolkata, and Guwahati. The basis of the search was tip-off received regarding concealed income and tax evasion; in some of the locations, digital data on concealed income was seized.
The raids are being conducted on the premises of renowned phone manufacturers, including Oppo, Xiaomi, and OnePlus. “Major dealers of Oppo, Xiaomi, and OnePlus covered under search operations across the country,” sources said.
In response, Oppo said it will cooperate with the agencies. “As an invested partner in India, we highly respect and abide by the law of the land. We will continue to fully cooperate with authorities concerned as per procedure,” a company spokesperson said, reported PTI.
Another smartphone manufacturer, Xiaomi, also said it complies with Indian laws. “As a responsible company, we give paramount importance to ensuring that we are compliant with all Indian laws. As an invested partner in India, we are fully cooperating with authorities to ensure they have all the required information,” the report quoted a Xiaomi spokesperson statement..
More information concerning the basis on which searches were conducted, as well as the seizures and recoveries made during the operation, is unavailable at this time.