SpiceJet says no default on TDS obligations

With a Delhi court summoning SpiceJet and its former executives in income tax cases, the budget carrier said on Wednesday it has not defaulted on any tax-deducted at source (TDS) obligations.

The airline also said that it has been paying all TDS dues as per Income Tax Rules.

The carrier as well as its ex-chairman Kalanithi Maran and former managing director S Natrajhen have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax Department.

In a regulatory filing, SpiceJet said it has paid the entire outstanding TDS amount pertaining to financial years 2013-14 and 2014-15 during February this year.

"Further, the company has been paying all its TDS dues as per the provisions of Income Tax Rules and there has not been any default on its TDS obligations... the company has not received any summon or notice," the filing to the BSE said.

According to the carrier, the matter relates to the period prior to the change in management and control.

"In this period, certain communications had been exchanged with the IT department and these were suitably responded to by the company. The company, at that time, had also conveyed the non-executive position of the then promoter of the company. No outcome of such communication have been communicated to the company by the relevant authorities," the filing said.

Amid SpiceJet facing turbulent times, its original co-founder Ajay Singh took back the reins of the airline earlier this year.

SpiceJet shares closed 0.44 per cent lower at Rs 22.55 apiece on the BSE.