Vodafone Idea is seeking about Rs 7,000 crore in tax refunds for past years even as it faces fresh statutory dues liability - running into thousands of crore - that has put the income tax department in a bind.
The tax department has in past adjusted refunds against a company's other liabilities towards the government. It had famously adjusted Rs 1,500 crore in tax refunds due to Cairn Energy plc of UK to part settle a retrospective tax demand of Rs 10,247 crore even though the matter was under arbitration.
Vodafone has to receive an aggregate of about Rs 1,000 crore from Mumbai unit of income tax department and another Rs 6,000 crore from its Delhi office for multiple assessment years dating back to 2004-05.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
Company Name | CMP |
---|---|
Bharti Airtel | 1349.50 |
Vodafone Idea | 13.29 |
Indus Towers | 344.75 |
Tata Communications | 1805.10 |
Bharti Hexacom Ltd. | 957.40 |
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