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Income Tax officials are raiding the premises of Finnish handset maker Nokia here in Chennai. A team of 20 officials reached the Nokia plant in Sriperumbudur and the Nokia offices in Chennai an hour ago. "Yes, raids are on. I will call back," said the Nokia spokesperson in Chennai.

Authorities said they suspect tax evasion to the tune of Rs 3,000 crore by Nokia. "They haven't paid tax in India," an IT official told ET on condition of anonymity. The raids are expected to go on till evening. Two employees whom ET spoke to also confirmed the news. "We know whether production would come to a stop today or not. We will know in an hour," said one of the employees on condition of anonymity.

Source: Times of India.

DTAA welcomes foreign companies into India. GAAR drives them away.