Govt initiates action

The government has initiated action against debt-ridden Kingfisher Airlines for not depositing Rs 153 crore, which it deducted as TDS from its employees, with the exchequer.

"Proceedings have been initiated for 2010-11 to crystalise the default amount, levy interest on delayed payment and take further statutory action," minister of state for finance S S Palanimanickam said in a written reply in the Rajya Sabha on Tuesday. The liabilities with regard to TDS default, as quantified from preliminary examination, was Rs 53.82 crore for 2010-11 and Rs 100 crore for the current financial year, he said.