Kingfisher Defaults on Payment of Service Tax, TDS
SIT back and enjoy the Kingfisher experience - they have not been paying their taxes regularly. The Auditor's report to the Balance Sheet of Kingfisher Airlines for the year 2010-11 states,
“Undisputed statutory dues in respect of service tax, withholding taxes, provident fund, fringe benefit tax, investor education and protection fund and employees' state insurance dues have not been regularly deposited with the appropriate authorities”.
The Service Tax dues amount to Rs. 1047.76 Lakhs and TDS Rs. 42,297 Lakhs.