Truecaller India Offices Searched by Income Tax Department Over Tax Evasion Claims

The Income-Tax Department conducted searches at Truecaller’s India offices on November 7, 2024, regarding alleged tax evasion and transfer pricing (TP) issues. Truecaller, the popular caller ID service with over 425 million monthly users, confirmed its cooperation with authorities.

Key Points:

Truecaller Compliance: The company emphasized its transparency in tax practices and stated it has paid all applicable taxes in India and globally.

Transfer Pricing Policy: Truecaller highlighted its alignment with internationally accepted arm’s length standards for intra-group transactions, ensuring compliance with both Indian and Swedish tax laws.

Truecaller Statement: The company assured users of its ongoing cooperation with Indian authorities and clarified that this inquiry is part of routine audits, not an investigation.

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