Updated January 31st, 2024 at 22:16 IST
SpiceJet deposits TDS of Rs 100 crore for the last fiscal
The budget carrier has seen multiple headwinds, financial woes, and disputes with aircraft lessors.
- 1 min read
Settling taxation troubles: The funding infusion from investors has seen SpiceJet deposit Tax Deducted at Source (TDS) of Rs 100 crore for the last financial year, multiple sources privy to the development have confirmed.
The budget carrier has seen multiple headwinds, financial woes, and disputes with aircraft lessors, being the most pressing problems, SpiceJet CMD Ajay Singh said in an internal communication.
The airline has deposited around Rs 100 crore to cover the entire TDS for all employees for the last fiscal year, said the communique addressed to the employees.
SpiceJet is due to complete another tranche of equity, and warrants raise from remaining subscribers and has requested additional time from the competent authority to complete the process under the ongoing preferential issue, as approved by the shareholders of the Company on January 10, 2024.
The extension is necessitated on account of limited banking days arising from long weekends during the intervening period.
(With PTI inputs)
Published January 31st, 2024 at 22:16 IST