Vodafone - Page 6

Vodafone case – government requests SC to waive its 1 per cent commission

The government has requested the Supreme Court to waive its 1 per cent commission for letting it withdraw Rs 2,500 crore, which has been deposited in the court by telecom firm Vodafone International Holdings. Instead, it has requested the court to di...

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Posted Under: Income Tax |

I-T department expects to collect Rs 2500-cr in Vodafone case

Mumbai Income Tax authorities expect to collect Rs 2,500 crore on accounts of the ongoing Vodafone case. The collection would help the department achieve its tax collection target for this fiscal, a department press release said here today. Mumbai zone has been given a target of over Rs 1,50,000 crore for FY 11....

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Posted Under: Income Tax |

FM praises Income Tax Department’s handling of Vodafone case

Union Finance Minister Pranab Mukherjee praised the efforts and professional competence of the Income Tax Department in handling the Vodafone tax dispute efficiently in all the forums. The department at present expects the Rs 2,500 crore in tax colle...

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Posted Under: Income Tax |

Government identifies four more cross border merger and acquisition deals like Vodafone

A few cases relating to cross border merger and acquisition deals have been identified for further examination by the Revenue Department. These deals are being examined for possible tax implications. Some of these cases are: • Deal of Vodafone Inter...

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Posted Under: Income Tax |

Vodafone in talks with foreign banks to provide counter guarantee to nationalised banks in India

Mobile service operator Vodafone is in talks with foreign banks to provide counter guarantee to nationalised banks in India for a sum of Rs 8,500 crore. This follows an order from the Supreme Court last week asking the telco to furnish a bank guarantee of a nationalised bank and set aside Rs 2,500 crore in cash with the court....

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Posted Under: Income Tax |

Hutch Deal- Vodafone Looks For India Tax Dispute Settlement

The Dutch government has approached India on behalf of Vodafone's Netherlands unit to settle a three-year-old tax dispute involving a Rs 11,000 crore claim, an Indian newspaper reported on Monday. The Netherlands has asked India to consider an alternate dispute resolution that will run parallel to the ongoing court process, the paper said...

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Posted Under: Income Tax |

I-T department asks Sanofi-Aventis to pay 700 crore tax

After telecom giant Vodafone, it is now the turn of another cross-border merger involving Indian assets to have landed in a tax tangle. Sanofi-Aventis, which picked up a majority stake in the unlisted Hyderabad-headquartered pharma major Shantha Biot...

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Posted Under: Income Tax |

How Income Tax Department calculated Vodafone's tax liability

After days of number crunching and close to four rounds of hearing with Vodafone, the Income Tax Department on October 22, 2010, raised an order demanding the final amount of Capital Gains Liability Tax that the UK based telecom giant will have ...

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Posted Under: Income Tax |

HC defers Vodafone tax hearing to Nov 23

The Bombay High Court on Wednesday deferred to Nov 23 a hearing of Vodafone's petition against a move by Indian tax office to treat it as an agent of the seller in its 2007 acquisition of Hutchison Whampoa's mobile business in India, a spokesman for ...

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Posted Under: Income Tax |

Not unnecessarily aggressive on Vodafone tax case – CBDT Chairman

After slapping over Rs 11,000 crore tax notice on Vodafone over its deal with Hutch , the income tax department today said it is not unnecessarily aggressive on this case and is just implementing the law. "We are implementing the law as it is. ...

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Posted Under: Income Tax |

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