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Nokia Tax Evasion Case Relating to TDS
This case is related to transaction done between Nokia India Ltd and its Finnish parent Nokia OYJ involving alleged tax evasion of nearly 3000 crores.
As per news published in Business standard, Nokia India has been paying royalty payments to its parent company in return of some software installation which attracts deduction of TDS at rate of 10%. This tax is not deducted by Nokia India.
Recently the income tax department called up officials of PWC Chennai branch(Nokia auditors) for investigating the matter.
Tax has to be deducted but not deducted by Nokia India
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