The Income Tax Department on Thursday conducted a survey on allegations of tax evasion in the offices of Swedish caller ID platform Truecaller, after which, according to CNN-News18 report, digital evidence and some other important documents on tax evasion were seized by the authorities. Seized. The report further states that these surveys were conducted in Truecaller’s Gurugram and Bengaluru offices.
Income tax officials say the purpose of the survey operation was to collect detailed information and examine documents in relation to certain allegations of tax evasion, including transfer pricing (TP) issues.
On Thursday, after news of the tax survey operation broke, a statement was issued by Truecaller, in which the company had said that it is continuously cooperating with the Income Tax authorities. The company said it conducts regular independent audits to ensure compliance with both Swedish and Indian laws.
The Stockholm-based company operates a smartphone application, which has features like caller ID, call blocking, flash messaging, call recording, chat. Truecaller currently has more than 40 crore active users in India.