Beleaguered Air India is unable to make statutory payments like tax deducted at source (TDS) and Employees’ Provident Fund (PF) payments, stated ET report. This report comes at a time when the Indian government is trying to fit a suitable buyer for Air India or rather the best way the government can sell-off the state-owned national carrier.
At present, the government is trying to explore options that will make Air India attractive among investors. There are even reports that suggest the government will have to delay the idea to sell the airline as potential buyers are not ready to take Air India's debt.
Government officials told ET, “Air India has not made payments against TDS and PF since January this year. TDS dues are in the range of Rs 26 crore till March-end and the PF dues run into several crores.”
Denying any delay in TDS payment, Air India said in an email that it has already deposited the TDS. The distribution of Form 16 is also under process.
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