Govt slaps penalty on Vijay Mallya's Kingfisher on tax issue

New Delhi: The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore for delay in the payment of tax deduction at source.
"In case of Kingfisher Airlines Pvt Ltd, a penalty of Rs 26.46 crore for the delayed remittance of deducted tax has been levied," Minister of State for Finance S S Palanimanickam said in a written reply to a question in Lok Sabha.
Two other airlines Spicejet and MDLR also figured in the list of those firms that had not remitted the TDS collected on time, but it was not clear if any fine was imposed on them.
"Spicejet Pvt Ltd's TDS for the financial year 2007-08 amounting to Rs 7.74 crore and for 2008-09 amounting to Rs 3.64 crore was deducted but not deposited into the government account," he said.
However, Spicejet, has now paid Rs 11.62 crore to clear the dues, the minister said.
On MDLR, Palanimanickam said, the total demand raised by the tax authorities was Rs 5.65 crore and the airline has deposited Rs 75.4 lakh into the government account.
17/07/09 PTI/Economic Times

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Categories: Kingfisher Jul 2009