Tax authorities in India have initiated steps to charge Kingfisher for its failure to pay $49m in taxes

Victoria
By Victoria May 21, 2012 11:08

Tax authorities in India have initiated steps to charge Kingfisher for its failure to pay $49m in taxes

Kingfisher Airlines deducted taxes from salaries but did not deposit them with the government, junior Finance Minister SS Palanimanickam told the Indian Parliament yesterday.
Kingfisher Airlines owes money to airports, tax authorities, lenders and its own staff and inflation in India is rising at pace.
A government survey was conducted at the business premises of Kingfisher and subsequently a tax demand (including interest) amounting to 3.72bn rupees ($68m) was raised, the minister stated in the parliament. “Action for recovery has been undertaken and a total of 1.03bn rupees ($18.8m) has already been recovered,” he said.
Is this the end?

Victoria
By Victoria May 21, 2012 11:08
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