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

Govt slaps penalty on Vijay Mallya’s Kingfisher on tax issue
PTI
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First Published: Fri, Jul 17 2009. 05 09 PM IST
Updated: Fri, Jul 17 2009. 05 09 PM IST
New Delhi: The government today said it has penalised Kingfisher Airlines with a fine of over Rs26 crore for delay in the payment of tax deduction at source (TDS).
“In case of Kingfisher Airlines Pvt Ltd, a penalty of Rs26.46 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 Rs7.74 crore and for 2008-09 amounting to Rs3.64 crore was deducted but not deposited into the government account,” he said.
However, Spicejet, has now paid Rs11.62 crore to clear the dues, the minister said.
On MDLR, Palanimanickam said, the total demand raised by the tax authorities was Rs5.65 crore and the airline has deposited Rs75.4 lakh into the government account.
On Kingfisher, promoted by liquor baron Vijay Mallya, Palanimanickam said TDS amounting to Rs32.73 crore was deducted from April 2008 to November 2008. However, an amount of Rs35.31 crore from April 2008 to March 2009 was remitted to the government account.
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First Published: Fri, Jul 17 2009. 05 09 PM IST