Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: ACCOUNTING STANDARD :: VAT Audit :: VAT RATES :: due date for vat payment :: empanelment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: form 3cd
 
 
Indirect Tax »
 5 crucial ways how doing business will be different under GST
 What is the lowdown on the Goods and Services Tax
 Ineligible Input Tax Credit Under Gst Regime
 What is GST, how is it different from now: Decoding the indirect tax regime
 Indirect tax collection can fall short of FY’17 target
 GST in last lap: What's in it for businesses, firms and most importantly, you?
 Indirect tax collection: All you want to know about stuck cases and rejected appeals
 Government achieves revised tax collection target
 Keep indirect taxes 'low, affordable' under GST
 Keep indirect taxes 'low, affordable' under GST
 Education, healthcare will continue to remain out of service tax under GST

I-T dept attaches over 30 a/cs of KFA for non-payment of dues
May, 30th 2012

The income tax department has attached over two dozen accounts of Kingfisher Airlines last week for non-payment of tax dues to the tune of about Rs 270 crore. "Around 30-40 accounts of the cash-strapped airlines were attached two weeks back. The tax due is of around Rs 270 crore from financial year 2009-10 onwards," an income tax official said. Meanwhile in a statement, Kingfisher Airlines said, "the IT department attached two of our bank accounts on May 24 which was not in accordance with the Speaking order of the Honourable IT Appelate tribunal during the hearing. "Subsequently, in a written order of May 25, the tribunal set aside the entire demand made by the IT assessing officer. As such there are no tax dues to be currently paid and the attachment orders on two bank accounts have to be lifted", it said. Kingfisher Airlines was found to have deducted tax at source (TDS) on salary payments but had not deposited it in government's account.

Earlier in March, the I-T department had defrozen KFA accounts after the Bangalore Bench of the Income Tax Appellate Tribunal directed the company to pay the amount in weekly instalments of Rs 9 crore starting from April. "The airline company has been paying only half that amount of Rs 9 crore every week," the official added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions