PRESS RELEASE, DATED 10-10-2015
There have been some reports in the media yesterday and today that the Income tax Department has issued fresh demand notice to Nokia India. These reports are erroneous.
An assessment order was passed in the case of Nokia India Pvt Ltd for Assessment Year 2010-11 in August 2015. The tax demand raised by this order was primarily based on issues arising from earlier orders.
The demand arising from the assessment order passed in August 2015, along with the demands raised earlier are already being considered under Mutual Agreement Procedure (MAP) of the India-Finland tax treaty by the Competent Authorities in both countries.