Income Tax Dept raids Huawei’s premises in tax evasion case

New Delhi: The Income Tax department has begun searches looking into the alleged tax evasion by Chinese telecom company Huawei. The raids are being conducted at multiple premises linked to Huawei across the country. 

According to a report by IANS, the raids are being conducted in the National Capital Region (NCR), Bengaluru and some other parts of the country. The tax officials are going through a number of account books belonging to the company. 

The taxmen have also checked Huawei’s financial records for the last three years, along with the company’s records. The officials are said to have prepared a “list of associates, clients and partners of the company which includes its foreign and country-based partners,” the report mentioned. 

Income Tax Department conducting searches at Chinese telecom company Huawei as part of a tax evasion investigation. Raids are going at the company's premises in Delhi, Gurugram, and Bengaluru in Karnataka since yesterday. — ANI (@ANI) February 16, 2022

On its part, Huawei said that the company is firmly compliant with all laws and regulations. It has added that it didn’t indulge in any tax evasion… and will cooperate with the Indian authorities. Also Read: Online process to link PAN Card with LIC, check deadline and other details ahead of LIC IPO

“We have been informed of the visit of the Income Tax team to our office and also of their meeting with some personnel. Huawei is confident our operations in India is firmly compliant with all laws and regulations,” the company said. Also Read: 7th Pay Commission: Here's the big update on fitment factor, minimum wages set to be hiked?