Indian tax authority froze $478 Mn Xiaomi funds in February: Report
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The Indian tax authority froze $478 Mn amount lying in local bank accounts of Xiaomi in February as part of a probe into alleged tax evasion, as per a court filing. The authority has blocked $478 Mn under a legal provision that allows tax officials to take such actions to protect India’s revenue interests, as per the court documents seen by the news agency Reuters.