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Xiaomi And Oppo May Face A Fine Of 1000 Crores, Alleging Violation of Law: Income Tax Department

The Income Tax Department has said that mobile companies Xiaomi and Oppo have violated tax laws and they can be fined Rs 1000 crore. It is worth noting that on December 21, Delhi and 11 states-Karnataka, Tamil Nadu, Assam, West Bengal Raids were conducted at the locations of these companies in Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Bihar and Rajasthan. A statement issued today by the Income Tax Department said, "In the raids, it has been revealed that both the major companies have sent an amount in the form of royalty quoting themselves and group companies located abroad, which is more than 5500 crores. . The statement said, 'These companies did not comply with the disclosure of transactions under the Income Tax Act 1961. Such a mistake makes them liable for penal action...

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