Saturday, January 11, 2014

21 thousand crore tax liability on Nokia

Finnish handset giant Nokia 's problems are not to be scrapped in India . The Delhi High Court on Monday by the Income Tax Department said in its latest information and Nokia Corporation , Nokia India at the total tax liability is Rs 21 153 crore . This amount includes fines imposed on the company during 2006-13 .
Nokia India on payment of Rs 6,500 crore tax income tax department went to court . Subsequently, the High Court ordered the sealing of Nokia's assets . The company filed a petition in the High Court against it . In response, the department said TDS on mobile manufacturer company did not pay royalties . Her special economic zone [ SEZ ] is operating under the special discounts not found . If the company would have TDS and SEZs are exempt afford the tax liability 14,200 crore . After hearing the arguments of the Department of Justice Sanjeev Khanna and Sanjeev Sachdeva Nokia for hearing adjourned until Tuesday .

Meanwhile , Nokia said in a statement that her department did not give any notice in this regard . Have been many claims about the tax department . We will fight this battle in court . During Tuesday's hearing, the court will have to answer several questions . These investments in India , dividend payments , raw material procurement , Nokia Corp. and Microsoft deal to return to the question of what the company offers .
Microsoft to buy Nokia for $ 7.2 billion deal . The acquisition process is not complete yet . In the last hearing, the court questioned the intentions of Nokia India Finally she asked him the name of a dividend of 18 reasons to Finland sent Rs 3,500 crore .



Were seized by the Income Tax Department for the Nokia Chennai plant has started to find a buyer . The company said that if he could not sell the plant will transfer to Microsoft .
Nokia for sale after the transaction is no longer of any use of this plant . The company has also discussed with Microsoft in this regard .

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