Jet Airways is getting into trouble with the tax man.
The airline has been delaying payment of Tax Deduction at Source (TDS) to the authorities since 2012.
The company has so far paid Rs 146 crore this fiscal, but is yet to pay the remaining Rs 450 crore, a senior I-T official told dna.
The I-T department had issue a notice to the company in October 2014. And its answer was that the aviation business in a shambles.
“We had surveyed the airline in March 2014 and found irregularities in TDS payment. We sought details of the TDS statements of the previous years. Based on the findings, we issued a show-cause notice in October 2014,” said sources.
Jet Airways acknowledged the notice and filed a writ petition against the department in the Bombay High court. They argued that the aviation business is in a shambles and that hit their business, too.
20/02/15 Daily News & Analysis
The airline has been delaying payment of Tax Deduction at Source (TDS) to the authorities since 2012.
The company has so far paid Rs 146 crore this fiscal, but is yet to pay the remaining Rs 450 crore, a senior I-T official told dna.
The I-T department had issue a notice to the company in October 2014. And its answer was that the aviation business in a shambles.
“We had surveyed the airline in March 2014 and found irregularities in TDS payment. We sought details of the TDS statements of the previous years. Based on the findings, we issued a show-cause notice in October 2014,” said sources.
Jet Airways acknowledged the notice and filed a writ petition against the department in the Bombay High court. They argued that the aviation business is in a shambles and that hit their business, too.
20/02/15 Daily News & Analysis
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