Showing posts with label tax on nokia. Show all posts
Showing posts with label tax on nokia. Show all posts

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 .