Business Daily from THE HINDU group of publications
Friday, Mar 13, 2009
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Business Daily from THE HINDU group of publications Friday, Mar 13, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Software Industry & Economy - Taxation
Maytas Properties also has significant dues Approximately, 20% of salaries paid by Satyam come under TDS It had paid about Rs 250 crore as TDS for the financial year 2007-08 Our Bureau Hyderabad, March 12 Satyam Computer Services is yet to pay old dues of TDS (Tax deducted at source) cut from the 53,000-odd employees. “Satyam Computer still has significant dues under TDS to be paid to the department. We are following it up with the company,” a source in the IT Department told Business Line. When asked about the period to which the dues belonged, the official said, “They pertain to all periods.” Interestingly, Maytas Properties, promoted by the former Chairman of Satyam, Mr B. Ramalinga Raju and now in crisis, also has significant dues. While the non-payment of dues is one issue for the department, it is also probing into the possibility of non-deduction of TDS in some salaries paid by the old management of Satyam. The issue assumed importance as there were allegations that some fictitious salary accounts were maintained in the company prior to its takeover by the Govt-appointed board. “We cannot comment on the fictitious salary accounts at this point. But in general there is practice of non-deduction of TDS in one or some salaries to benefit the employees,” he added. Approximately, 20 per cent of salaries paid by Satyam come under TDS, he added. The company had paid about Rs 250 crore as TDS for the financial year 2007-08. The company has a salary and personnel expenditure running up to Rs 500 crore a month. Maytas Infra, another company promoted by Mr Raju’s family, has no dues on the TDS front, the IT department sources said. Satyam fixes March 20 as deadline for suitors Satyam gets time till March 31 to restate Q3 numbers More Stories on : Software | Taxation | Satyam Computer Services Ltd
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