March 13, 2015 9:27 AM

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IT authorities serve prosecution notice to JetAirways for TDS default

Income Tax (IT) authorities have slapped prosecution notice on Jet Airways for Tax Deduction at Source (TDS) payments default. Official sources said that the notice was served to the Mumbai-headquartered airline after the tax authorizes detected several irregularities in the TDS payments by the private carrier. Prosecution notice to Jet Airways has been issued for TDS default for previous three fiscals-2008, 2009 and 2010 as well as for the on-going financial year. Sources added that these notices are apart from the two notices issued to Jet Airways earlier for delay in TDS payments during 2013 and 2014. The airline has paid the TDS but mostly after the scheduled payment date, the sources said, adding it has, however, sought compounding against these defaults. Jet Airways, in its response, said it was up-to-date on TDS payments and that it was discussing the issue with the tax authorities.

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