The income-tax department has slapped a 1,067-crore demand notice on Bharti Airtel, the country's largest telco by revenues and customers, for its alleged non-payment of Tax Deducted at Source (TDS) dues in the last four financial years in relation to its overseas operations. Bharti Airtel said it was fully compliant with all the provisions and termed the demand unjustified even as the company said that it would take appropriate legal recourse. The I-T department has asked the telco to make the payment immediately. It has been asked to pay up 202.07 crore for 2007-08, 329.913 for 2008-09, 313.577 crore for 2000-10 and 221.681 crore for the 2010-11 period in lieu of payments made by the company to "non-resident mobile service providers".
Source: Economic Times
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