KFA owes Rs 269-cr income tax: Govt

Kingfisher Airlines (KFA) owes Rs 269-crore in income tax dues and the department has initiated penalty and prosecution proceedings against the private carrier. The carrier was found to have deducted tax at source on salary payments, but had not deposited it in government account, minister of state for finance S S Palanimanickam said in the Lok Sabha. “Survey...was conducted at the business premises of the aforesaid company and subsequently tax demand (including interest) amounting to Rs 372.09 crore, pertaining to FY09-FY10 to 2011-12 were raised,” he said.