Mahanagar Telephone Nigam (MTNL) has received income tax refund from Income Tax (IT) Department for the Assessment Year 2006-07, amounting to Rs 224.43 crore, which includes Rs 57.03 crore towards interest on refund.
From the above refund an amount of Rs 8.38 crore has been adjusted against the demand for the A.Y. 2009-10 and a net cheque amounting to Rs 216.05 crore has been received for the A.Y.2006-07.
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.
