BANGALORE, India – The Income Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 3,500,000,000, a senior official said on Sunday.
“We have attached all assets of Kingfisher Airlines and are in the process of recovering its dues by sale and attachment of properties of the defaulter company,” IT official Lokesha said in a statement here.
The defunct airline of business tycoon Vijay Mallya had deducted tax at source from its employees’ salaries and other payments for assessment years 2010-11 and 2011-12, but failed to remit the amount to the government account.
(eTN): Official: Kingfisher Airlines failed to pay taxes amounting to Rs 3,500,000,000 | re-post license |Â post content
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