Economy

I-T dept makes Rs 2,568-cr refund to Vodafone

| | Updated on: Mar 21, 2012
image caption

With the Supreme Court dismissing the Centre’s claim in the Vodafone tax case, the Mumbai Income Tax Department late Tuesday night made a refund of Rs 2,568 crore to Vodafone.

The department deducted a TDS of about Rs 50 crore from the final amount.

The cheque was collected by lawyers representing the company.

Over the last few days, Income Tax officials have been working out various permutations and combinations for calculating the interest and TDS component on the principle amount of Rs 2,500 crore.

On Tuesday evening, as soon as news arrived from New Delhi about the dismissal of the petition, officials swung into action and issued the cheque, sources said. On January 12, 2011, Vodafone had deposited the money with the department.  

Published on March 12, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you