Mahanagar Telephone Nigam (MTNL), the state owned telecom firm which operates in Delhi and Mumbai, has received a total tax refund of Rs 146.50 crore. The company has received a net cheque amounting to Rs 111.56 crore for the Assessment Year 2007-08 and Rs 34.94 crore for the Assessment Year 2009-10. The above amount has been received after adjusting an amount of Rs 6.78 crore against the demand for the Assessment Year 2006-07.
The company has received Income Tax Refunds from Income Tax Department for the Assessment Year 2007-08 & 2009-10 which were earlier adjusted from the refund of Assessment Year 2006-07. The amount received from Income Tax Department amounts to Rs 111.56 crore for the Assessment Year 2007-08 & 41.72 crore for the Assessment Year 2009-10 which includes Rs 4.29 crore & Rs 2.13 crore respectively towards interest on refunds.
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.
