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Kingfisher violated tax rules: Govt

By Reuters Dec 20 2011 , Mumbai

Cash-strapped carrier Kingfisher Airlines has not deposited with the government most of the income

tax it deducted from its employees' salaries for the last two fiscal years, a government minister told lawmakers on Tuesday.

Kingfisher has about 1.3 billion rupees tax deducted at source to be deposited with the government and has committed to pay it by the end of the current financial year to March 2012, Minister of State for Finance S.S. Palanimanickam told parliament in a written reply to a question.

"Survey has been conducted in case of Kingfisher Airlines, which revealed that the airline had not adhered to TDS provisions," the minister said.

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It is quite surprising that

It is quite surprising that the Income Tax department did not do any thing for two years and matters have come to such a pass. If a company as big as Kingfisher Airlines could avoid non remittance of tax deducted at source for two years, obviously, there is a serious lacuna in the functioning of the concerned wing of the Income Tax department. Considering the financial woes now faced by the company, it would be quite a job to recover the amount.

Submitted by Narendra M Apte (not verified) on Tue, 20/12/2011 - 15:52.

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