The Income Tax Department on Thursday raided several offices of global caller ID platform Truecaller in connection with tax evasion. The Stockholm-headquartered company said it was cooperating with investigators. Official sources gave this information. According to Bhasha news, tax officials said the purpose of the search was to collect detailed information and examine documents in connection with certain allegations of tax evasion including transfer pricing (TP) issues.
Raids took place on offices in these cities
According to the news, according to the information available on the company's website, TrueCaller has offices in Bengaluru, Mumbai and Gurugram in India. The company said in a public statement that Indian tax authorities conducted an inspection at Truecaller India's office on Thursday, November 7. The company said that Truecaller is currently fully assisting the officials in its offices. This happened without any prior notice and TrueCaller is currently awaiting official confirmation and communication from the Income Tax Department.
Our dealings are completely transparent
Truecaller India said that this is not unusual and that Truecaller will fully cooperate with the relevant authorities. The Swedish company said that as a publicly listed company our dealings with respect to taxation are completely transparent.
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