India’s first privately owned airline, Jet Airways, has been struggling with debt and operational losses.
Now it may have a fresh problem: tax trouble.
“Income tax officials are conducting a survey at Jet Airways’ offices,” the airline said in a statement on Wednesday (Sep. 19), referring to procedures being followed at its premises in Mumbai and Delhi.
To be sure, a survey is not an “I-T raid” or “search.” Here tax officials check the firm’s documents, based on which they can question the company’s executives.
In Jet’s case, this is part of the I-T department’s probe into allegations of financial misappropriations at the airline. “Books of accounts are being verified to ascertain the nature of financial expenses that took place within the organisation,” a senior government official told Quartz on the condition of anonymity.
Tax officials are also reportedly examining the airline’s 2011 agreement with Godrej Buildcon, an arm of the Mumbai-based realtor Godrej Properties, to develop Jet’s 2.5-acre property in Mumbai’s prime commercial centre, the Bandra Kurla Complex.
Meanwhile, the airline may just have survived a nightmare involving one of its flights. Early in the morning today (Sept. 20), around 30 passengers on a Jet Airways flight from Mumbai to Jaipur reportedly suffered nose and ear bleeds due to low cabin pressure after the crew forgot to press a switch.
20/09/18 Quartz India
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Now it may have a fresh problem: tax trouble.
“Income tax officials are conducting a survey at Jet Airways’ offices,” the airline said in a statement on Wednesday (Sep. 19), referring to procedures being followed at its premises in Mumbai and Delhi.
To be sure, a survey is not an “I-T raid” or “search.” Here tax officials check the firm’s documents, based on which they can question the company’s executives.
In Jet’s case, this is part of the I-T department’s probe into allegations of financial misappropriations at the airline. “Books of accounts are being verified to ascertain the nature of financial expenses that took place within the organisation,” a senior government official told Quartz on the condition of anonymity.
Tax officials are also reportedly examining the airline’s 2011 agreement with Godrej Buildcon, an arm of the Mumbai-based realtor Godrej Properties, to develop Jet’s 2.5-acre property in Mumbai’s prime commercial centre, the Bandra Kurla Complex.
Meanwhile, the airline may just have survived a nightmare involving one of its flights. Early in the morning today (Sept. 20), around 30 passengers on a Jet Airways flight from Mumbai to Jaipur reportedly suffered nose and ear bleeds due to low cabin pressure after the crew forgot to press a switch.
20/09/18 Quartz India
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