| |
| Rediff India Abroad Home | All the sections | |
|
|
Vodafone CEO meets FM; company to wait for court verdict on tax October 08, 2007 14:25 IST Sarin, who met Finance Minister P Chidambaram on Monday presumably over the same issue, told reporters: "There was no discussion (during the meeting) on the notice from the Income Tax Department. The matter is in the court and we will wait for the decision of the court." During his last visit, the Vodafone CEO had said the company was not liable to pay tax. "We are working with the Income Tax Department to sort this issue. Neither the Essar Group, nor Vodafone, nor Vodafone Essar is liable to pay taxes. It is the seller who should be taxed; and the seller is not one of the parties represented here," Sarin had said. But the finance ministry contends that Vodafone has a liability as a payer and the company should have deducted tax at source before making payment to Hutchison and deposited it in the kitty of the government. Last month, the Income Tax Department had sent a notice to Vodafone, seeking around 1.7 billion dollars in capital gains tax related to the sale of Hutchison Telecom International Ltd's majority stake in Hutch-Essar, now renamed Vodafone-Essar. However, the company contested this notice and approached the Bombay high court. Meanwhile, Vodafone, which has almost exit Bharti, its erstwhile partner in India, said it is looking at working with Bharti Infratel for tower sharing.
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
