Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Telecom/  Vodafone says received transfer pricing order in India
BackBack

Vodafone says received transfer pricing order in India

The order is linked to a transfer pricing dispute in the fiscal ended March 2008, which Vodafone has challenged

Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries. Photo: Ashesh Shah/Mint (Ashesh Shah/Mint)Premium
Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries. Photo: Ashesh Shah/Mint (Ashesh Shah/Mint)

The order is linked to a transfer pricing dispute in the fiscal ended March 2008, which Vodafone has challenged before the dispute resolution panel of the Indian income-tax department, it said in a statement.

“As this latest order relates to a share subscription, and share subscriptions are not covered by transfer pricing rules either in India or internationally, we will be challenging the order as it has no basis in law," it said.

Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries.

Vodafone, the largest corporate investor in India, has repeatedly clashed with Indian authorities over taxes since it bought Hutchison Whampoa’s local mobile business in 2007.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 07 Feb 2013, 06:21 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App