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Bharti Airtel: No potential tax demand estimates for Vodafone Idea (Vi) were immediately available as the telco has been running losses since the merger in August 2018. "Any retrospective demands pertaining to any past tax payment shortfalls can only be based on a review of the pre-merger financials of erstwhile Vodafone India and Idea Cellular, when they were profitable," said an analyst at a global brokerage. ....
India s top telecom companies are likely to file a review petition against the Supreme Court s ruling that treats license fees as a capital expenditure. This could result in hefty retrospective demands and penalties for tax payment shortfalls in previous periods. Bharti Airtel could face a potential tax demand of Rs 6,000 crore for 2020-23, while Reliance Jio could face a demand of Rs 8,400 crore for 2017-2023. Sector experts believe that the burden will even out over the license period, with tax outgo declining in later years. Vodafone Idea s potential tax demand estimates were not available. ....
The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it ....
The government on August 13 filed a ''Motion to Dismiss'' petition in the US District Court for the District of Colombia, saying it lacked subject matter jurisdiction in the dispute between Cairn and the Indian tax authority ....