Mahanagar Telephone Nigam (MTNL) has received income tax refund for the assessment year 2006-07 amounting to Rs 129.82 crore. Of total, Rs 21.18 crore is interest on refund.
MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.