India's Income Tax authorities have since December 21, conducted raids and search operations in several
areas in states including Karnataka, Tamil Nadu, Assam, West Bengal, Andhra Pradesh, Madhya Pradesh,
Gujarat, Maharashtra, Bihar, Rajasthan, Delhi & NCR. According to an ANI report, I-T officers targeted 15
manufacturing units of mobile manufacturers Oppo, OnePlus and Xiaomi, Dixon, and Rising Star India.
Some fintech companies and their chief executive officers have also been covered. They also raided the
distribution partners of Oppo. The report added that in early August, five ZTE premises including the
corporate office, the residence of the foreign director, the residence of the company secretary, the account
person, and the cash handler of the company were raided. The search revealed that though the company had
been booking "huge" losses over the years, there was a gross profit of approximately 30% on the trading of
equipment.
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