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IT raid puts airlines under the scanner

February, 07th 2009
In a path-breaking investigation, with all-India ramifications, sleuths from the Income Tax department (Bangalore circle) have found that a private airline had not remitted to the government a part of the tax it has been deducting at source for over the past eight years. The TDS default and the interest on it amounts to around Rs 37 crore. Taking a cue from this investigation, the IT department has now initiated a survey into the accounts of all the airlines in the country. The investigation conducted by Pradeep P Aspatwar, assistant commissioner of income tax (TDS), Bangalore, last year was adjudged one of the 10 best cases of TDS order and survey conducted across the country. It was presented the appreciation award by the finance ministry in Delhi on Wednesday.