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March 3rd, 2012
40 Bank accounts of Kingfisher Airlines frozen by ST

Service Tax Commissioner SK Solanki said on a statement on Saturday that, “Over Thursday and Friday, we froze 40 bank accounts of Kingfisher Airlines. They failed to meet the 29th February deadline to make the payments. The airline owes Rs 40 crore to the department.

This is the fourth time in the past four months that the service tax depart has frozen its Bank accounts. Late last month, the Income Tax Department had also frozen the bank accounts for not depositing the TDS.

Asked if the airline had communicated with the department, he said, “Not yet as today being a Saturday, We hope to hear from them on Monday.”

The move follows as the airline failed to make an Rs 20 crore payment by 29th February, as promised.