Fantastic imposed on Airtel’s subsidiary firm, these firms additionally acquired discover – India TV Hindi

Bharti Airtel Group firm Telesonic Networks has been fined for alleged irregularities in claiming enter tax credit score. Bharti Airtel mentioned in a inventory alternate submitting that the workplace of the Assistant Industrial Tax Commissioner (Audit) in Bengaluru has handed an order underneath the Central Items and Companies Tax Act towards a subsidiary of the corporate.

A nice of Rs 2,19,873 has been imposed on this. In accordance with the knowledge, this penalty has been imposed on the corporate’s subsidiary Telesonic Networks for alleged irregularities within the enter tax credit score claimed in the course of the monetary 12 months 2018-19. The corporate acquired this order on March 30. “The utmost monetary affect is to the extent of the penalty imposed,” the corporate mentioned. The corporate doesn’t agree with the order and can take acceptable motion towards it.

Zomato received tax discover

Zomato, a platform that gives on-line ordering facility, has acquired a tax demand discover of Rs 23.26 crore from the tax authorities. This contains curiosity and penalty. The corporate mentioned it can problem the order earlier than the suitable authority. Zomato mentioned in a submitting to BSE, “The corporate acquired a discover from the Assistant Industrial Tax Commissioner (Audit), Karnataka relating to GST (Items and Companies Tax) demand of Rs 11,27,23,564 crore for the monetary 12 months 2018-19.” Is. This quantities to Rs 23,26,64,271 with curiosity and penalty. We consider that our case is powerful on deserves and the corporate will attraction towards the order earlier than the suitable authority. Will attraction.

Financial institution of India acquired revenue tax discover

Financial institution of India has acquired a requirement discover of Rs 1,127.72 crore associated to evaluation 12 months 2016-17 from the evaluation unit of the Revenue Tax Division. The Financial institution has acquired a requirement discover underneath Part 156 of the Revenue Tax Act, 1961 referring to the 12 months 2016-17, during which sure disclaimers have been made. Financial institution of India mentioned, “The Financial institution is within the strategy of submitting an attraction earlier than the Commissioner of Revenue Tax (Appeals), Nationwide Faceless Attraction Heart (NFAC) towards the mentioned order throughout the prescribed time-limit. In view of the choice/orders of the appellate authorities, the Financial institution believes that it has ample factual and authorized foundation to justify its place within the case. The financial institution expects the demand to scale back. Thus, there shall be no affect on the monetary, operational or different actions of the financial institution.”

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