On November 7, 2024, the Indian Income-Tax Department conducted a survey at the offices of Truecaller, a Swedish caller ID service, over alleged tax evasion. The company, headquartered in Stockholm, confirmed its cooperation with officials during the operation.
Authorities stated that the purpose of the survey was to gather detailed information and review documents linked to tax evasion claims, including transfer pricing practices. Unlike a comprehensive search operation, which covers residential and linked premises, a survey operation focuses only on business premises.
According to Truecaller’s website, it has offices in Bengaluru, Mumbai, and Gurugram. The company noted, “Truecaller’s India offices were visited by Indian Tax officials on Thursday, November 7, 2024. We are assisting the authorities to the fullest and are awaiting official communication from the tax department.” Truecaller reassured that this type of survey is routine and stressed their full compliance.
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Truecaller, being publicly listed, emphasized its transparency, mentioning that it has never faced tax investigations beyond standard audits. The company stated that their financial statements consistently receive unqualified audit opinions and that taxes have always been paid as required in India and other regions.
Additionally, Truecaller’s transfer pricing policy is designed to meet internationally accepted arm’s length standards and is reviewed independently to align with the tax laws of Sweden and India. The company reiterated, “Our approach ensures accurate tax payments as per both Swedish and Indian regulations.”
The company also highlighted having 425 million active users globally, offering services on Android and iOS platforms for number identification and spam blocking.