Monday, June 19, 2017

Cairn comes under tax hammer

Income Tax Department has ordered coercive action against Cairn Energy Plc to recover Rs 10,247 crore of retrospective tax after the firm lost a challenge to the move before an international arbitration panel.

The department ordered taking away Rs 700 cr  dividend due to it from its remaining stake in the erstwhile subsidiary Cairn India, now called Vedanta and another Rs 1,500 crore of tax refund due to it.

No comments:

Post a Comment