I-T Dept 'action' at OYO's India headquarters; company calls it routine TDS survey
A few employees were asked to leave after the income tax officials started searching the office. The company, already battling a myriad of troubles, assured cooperation to the tax authorities
- Jan 10, 2020,
- Updated Jan 10, 2020 11:31 PM IST
Income Tax Department carried out a TDS verfication action at OYO headquarters in Gurugram on Thursday. The hospitality unicorn confirmed that it was a routine TDS (Tax Deduction at Source) survey. Income Tax officials reportedly reached the OYO's office in Sector 69, Gurugram in the first half of the day, reports suggest.
A few employees were reportedly asked to leave after the income tax officials started searching the office. The company, already battling a myriad of troubles, assured cooperation to the tax authorities.
"There is a routine TDS survey in progress in one of our offices. We are cooperating with the authorities, and are committed to engaging with all relevant stakeholders. OYO Hotels & Homes has actively worked in ensuring that the wider unorganised segment is organised, and part of the formal economy. We continue to support small asset owners by creating entrepreneurship opportunities and giving them access to technology and other resources," an OYO spokesperson told Business Today.
OYO may lay off 2,000 employees in India by January-end: report
Income Tax Department carried out a TDS verfication action at OYO headquarters in Gurugram on Thursday. The hospitality unicorn confirmed that it was a routine TDS (Tax Deduction at Source) survey. Income Tax officials reportedly reached the OYO's office in Sector 69, Gurugram in the first half of the day, reports suggest.
A few employees were reportedly asked to leave after the income tax officials started searching the office. The company, already battling a myriad of troubles, assured cooperation to the tax authorities.
"There is a routine TDS survey in progress in one of our offices. We are cooperating with the authorities, and are committed to engaging with all relevant stakeholders. OYO Hotels & Homes has actively worked in ensuring that the wider unorganised segment is organised, and part of the formal economy. We continue to support small asset owners by creating entrepreneurship opportunities and giving them access to technology and other resources," an OYO spokesperson told Business Today.
OYO may lay off 2,000 employees in India by January-end: report