💨 Abstract

Indian tax authorities conducted an unannounced raid on the local offices of Swedish software company Truecaller on Thursday. The company, which has not been subject to any tax investigation outside of routine audits in India, is currently awaiting official confirmation and communication from the tax departments. The company's shares listed in Stockholm dropped 11% following the news. Truecaller's new CEO, Rishit Jhunjhunwala, was appointed on Wednesday.

Courtesy: theprint.in

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