Kingfisher fined Rs.26 crore for delaying tax payments | business | Hindustan Times
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Kingfisher fined Rs.26 crore for delaying tax payments

business Updated: Jul 17, 2009 20:44 IST

IANS
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The government on Friday said it has fined private carrier Kingfisher Airlines Rs.26.46 crore for delay in remittance of tax deducted at source (TDS).

Minister of State for Finance SS Palanimanickam, in response to a question, told the Lok Sabha that besides Kingfisher, Spicejet and MDLR Airlines also have not remitted TDS collected on time.

But, he said, it was not clear if any fine had been imposed on Spicejet and MDLR.

"In the case of Kingfisher Airlines, a penalty of Rs.26.46 crore for the delayed remittance of deducted tax has been levied," Palanimanickam said.

"Spicejet's TDS for the financial year 2007-08 of Rs.7.74 crore and Rs.3.64 crore for 2008-09 was deducted but not deposited into the government account," he said.

The airlines has since then paid Rs.11.62 crore, the minister added.

Regarding MDLR Airlines, Palanimanickam said that of the Rs.5.65 crore collected as TDS, the airline has paid only Rs.75.4 lakh to the government.