News > Oppo, Xiaomi can be fined Rs 1,000 crore for non-disclosure of related party transactions

Oppo, Xiaomi can be fined Rs 1,000 crore for non-disclosure of related party transactions

Smartphone makers Xiaomi and Oppo can be fined Rs 1,000 crore for violating the law pertaining to non-disclosure of related party transactions, the Income Tax department said.

Sources added that while the documents and electronic devices seized during recent raids are being studied to ascertain, in one such company they have found the affairs of the company were managed from ‘a neighbouring country’.