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 »
 Here's is a quick guide to how you can save tax on gifts
 Don't buy life insurance just for saving tax, ask these 4 questions before investing
 E-tailers caught between state laws & penalty on tax
  Central Goods and Services Tax (Eleventh Amendment) Rules, 2018
 Central Goods and Services Tax (Twelfth Amendment) Rules, 2018
 The Central Goods And Services Tax (Amendment) Act, 2018
  How much tax are you liable to pay on long-term capital gains on property?
 Finance Ministry simplifies GST refund claim process for businesses
 Section 44 (2) of the Central Goods and Services Tax Act, 2017 read with Rule 80 of the Central Goods and Services Tax Rules, 2017
 Advance Tax 2018 benefits for salaried employees, professionals, small business, married couples, seniors, homeowners, families
 Step by Step Guide for GST Enrolment for existing Central Excise /Service Tax Assessees

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 2018 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