Mahanagar Telephone Nigam (MTNL), the state owned telecom firm which operates in Delhi and Mumbai, has received a refund of Rs 492.26 crore which was paid by the company on account of liability arising from levy of Minimum Alternate Tax (MAT), from the Department of Telecommunication (DoT) , Government of India towards financial support to the company.
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.
