Rs 5,500 crore of two Chinese mobile companies under scanner of Income Tax department

Both Chinese companies had not complied with the regulatory mandate prescribed under the Income-tax Act, 1961, said officials of the Income Tax department.

Rs 5,500 crore linked to two Chinese mobile companies are under the scanner of the Income Tax department, officials said on Friday. The IT department had on December 21 launched a pan India search and seizure operation in connection with certain mobile communication and mobile handset manufacturing companies headquartered overseas and their associated persons.

Various premises in the states of Karnataka, Tamil Nadu, Assam, West Bengal, Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Bihar, Rajasthan, Delhi and NCR were raided during the searches.