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Kingfisher to pay taxes today

Time has been running out for Kingfisher Chirman Vijay Mallya and has now come to an end as Saturday happens to be the last day for him to pay up all the due taxes of at least Rs 9 crores out of pending Rs 60 Crores of service tax dues. Failure to pay taxes may once again lead to the airlines accounts being frozen by the tax authorities. The income tax authorities defroze the beleaguered airlines accounts after mallya paid up dues worth Rs 20 crores in February. Moreover, after a long wait of four months, a section of kingfisher employees received part of their pending salaries on April 4. Official records say the I-T and Service Tax departments have frozen as many as 40 bank accounts of the airline for non-payment of levies. On the other hand, Kingfisher has also paid Rs 44 crore towards TDS arrears, which was due on or before March 27, as directed by the Income Tax Appellate Tribunal in Bangalore.

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