MTNL gets Rs 1,461 cr refund from IT-dept
Mahanagar Telephone Nigam Ltd Monday said it has received Rs 1461.68 crore as refund from the Income Tax department, including tax and interest.
By INDIATIMES NEWS NETWORK |
MUMBAI: Mahanagar Telephone Nigam Ltd Monday said it has received Rs 1461.68 crore as refund from the Income Tax department, including tax and interest.
MTNL and the IT department were engaged in lengthy litigation for the past several years with respect to the issue of license fee and 80IA deduction.
The IT department has accepted the views that license fee is an operational expenditure and allowable at par with other operators.
Around Rs 2,000 crore is yet to be refunded by the IT department on account of license fee & 80IA.
At 2:30 PM, MTNL shares were at Rs 170, up 4.4% with traded volume of 11,67,732 shares as compared to two-week average of 5,36,132 shares.
MTNL and the IT department were engaged in lengthy litigation for the past several years with respect to the issue of license fee and 80IA deduction.
The IT department has accepted the views that license fee is an operational expenditure and allowable at par with other operators.
Around Rs 2,000 crore is yet to be refunded by the IT department on account of license fee & 80IA.
At 2:30 PM, MTNL shares were at Rs 170, up 4.4% with traded volume of 11,67,732 shares as compared to two-week average of 5,36,132 shares.
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