Tax agency probes Truecaller for violating transfer pricing regulations

As part of the probe, Income Tax Department officials conducted raids at Truecaller's offices and other premises linked to the app. The locations where searches were carried out were in Gurugram and a few other places.

In Short

• Tax agency officials conduct raids at Truecaller's offices, linked premises Gurugram
• Some raid locations in Gurugram
• Truecaller has over 400 million users in India

The Income Tax Department has initiated an investigation into the caller ID and spam blocking app, Truecaller, for allegedly violating transfer pricing regulations.

As part of the probe, Department officials conducted raids at Truecaller's offices and other premises linked to the app.

The locations where the searches were carried out were in Gurugram and a few other places.

The organisation is yet to respond on the development.

In India currently, Truecaller has more than 400 million active users.

Last month, the app launched a new feature in the country called Truecaller Fraud Insurance which aims to offer additional protection to premium subscribers in case they fall victim to fraud.

Truecaller has partnered with HDFC Ergo for the provision of the services.

In the wake of the rise in such scams, Truecaller said that the new feature will actually help users who have fallen victims to online scams.

However, the feature will only be available to the Premium subscribers for now.