IT inspection finds Rs 37 crore default by private airline

In a path-breaking investigation, with all-India ramifications, sleuths from the Income Tax department (Bangalore circle) have found that a private airline had not remitted to the government a part of the tax it has been deducting at source for over the past eight years. The TDS default and the interest on it amounts to around Rs 37 crore. Taking a cue from this investigation, the IT department has now initiated a survey into the accounts of all the airlines in the country.