Between them, the director general of income tax (international taxation) (DGIT) and chief commissioner of income tax (CCIT) have raised an existing and anticipated tax demand of Rs 21,153 crore on Nokia India Private Limited (NIPL) and Nokia Corporation. The DGIT has raised a demand of Rs 10,569 crore against NIPL and Nokia Corporation under Sections 201(1) and 201(1A) of the Income Tax Act in the case of NIPL and Section 271(1)(c) in the case of Nokia Corporation. The CCIT has asked the Indian entity pay an amount of Rs 10,584 crore. Both of these demands are inclusive of the penalties levied on the two firms.Source : http://www.financialexpress.com/news/capital-gains-tax-to-push-up-nokia-s-rs-21kcr-tax-liability/1204370

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