sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Service Tax »
 Senior Citizen? Are you aware of these income tax benefits
 Facing difficulty in Income Tax Return filing? These apps can help you out
 Filing ITR-1 Sahaj Form will not be the same anymore; Check out what has changed
 If you haven't filed your taxes yet, here are some last-minute tips
  ITR-1 for FY2018-19 asks for interest income break-up from tax payers
 Check Your Income Tax Refund Status? Here's A Step-By-Step Guide
 How to calculate gratuity and the tax exemption amount you can avail on it
 What Latest Changes In Income Tax Forms Mean For You
 Companies (Incorporation) Third Amendment Rule,2019
 Last date, process, e-filing registration, status, form 16, all you need to know Income Tax Return (ITR) Filing 2019-20
  Exposure Draft of Accounting Standard (AS) 17, Leases (Comments to be received by May 4, 2019)

Income Tax department finds 'prima facie' defaults by Nokia in TDS deductions
January, 10th 2013

The Income Tax (I-T) department today said it has found prima facie defaults by Finnish handset maker Nokia's Chennai plant in TDS deductions on royalty payments made to its parent company.

During searches conducted by the department at the Nokia's Sriperumpudur factory yesterday, it was also observed that the company had changed its accounting model and also was in the process of reorganising the existing business model to bypass certain direct and indirect tax liabilities.

"Some more clarifications have been sought from the executives of the company," an I-T release said.

The department seized "some important" evidence having a bearing on the tax implications of the company, it said but added further investigation was required before reaching final conclusion on the tax liability.

"It has been gathered during the survey operations that Nokia India has been making remittances to its parent company Nokia OY as payments for software supplies since 2005. The above payments for software would attract TDS as per the provisions of the Income Tax Act 1961", it said.

"But it is learnt that the assessee company has not made any TDS on the above software payments", it said.

Nokia India had said yesterday that it was fully cooperating with the IT department to ensure officials get the necessary information.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions