News Snapshot:
Chinese smartphone makers and sellers Xiaomi and Oppo may have to pay up to ₹ 1,000 crore as penalty for tax evasions. On 21 December 2021, IT Department carried out search operations various mobile communication and handset maker including these two and found that they had not complied with the regulatory mandate for disclosure of transactions, quotes Hindustan Times. In a statement issued on Friday, the Central Board of Direct Taxes (CBDT), the parent body of IT department, said, “The search action has revealed that two major companies (referring to Oppo and Xiaomi) have made remittance in the nature of...
