The department raided the factory and offices of Finnish company's Indian subsidiary on Tuesday in what it called a 'survey' operation. Covered under this operation were its factory in Sriperumbudur, near Chennai, and its offices in Gurgaon, Haryana.
A statement from its PRO on Wednesday evening said, "It has been gathered that Nokia has been making remittances to its Finnish parent company M/s Nokia OYJ as payments for its software supplies since 2005. The above payment for s/w supplies would attract TDS as per the provisions of the IT act 1961. But it is learnt that the assessee company has not made any TDS on the above s/w payments."
The statement also said that "some important evidence having a bearing on the tax implications of the company have been impounded." It said, "prima facia that appears to be some defaults with respect to TDS deduction on royalty payments made to its parent company based at Finland."
Also, the PRO statement said, "It is also observed that the company changed its accounting model and also is in the process of re-organising the existing business model to bypass certain direct and indirect tax liabilities."
Some more clarification has been sought from executives of the company. The evidence gathered requires further investigation before reaching final conclusions, said a spokesperson of the I-T Department.
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