Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

RAMESH KUMAR VERMA (pursuing company secretary course)     02 June 2010

Vodafone faces tax charge

 

Wednesday June 2, 10:12 AM Source: Hindustan Times

Vodafone faces tax charge

New Delhi, June 1 -- The income-tax department has served an order on Vodafone International Holdings, saying that it had authority to levy a withholding tax on Vodafone's Rs 52,080 crore deal to buy 67 per cent stake in Hutchison Essar Ltd in 2007. The tax department argued that Cayman Islands-based transaction was a transfer of an Indian asset and that Vodafone should have deducted tax at source when it paid Hutchison. The spokesperson also said the company had right of appeal to the Bombay High Court if it disagreed with the I-T order.



Learning

 0 Replies


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register