Tax Authorities Queries

The Company is in the process of collating and responding to all the queries raised by the Income Tax authorities and accordingly final report relating to search/survey operation will be concluded as per the laid down procedures, VIL said in a regulatory filing.

Failure to answer questions from the tax department can entail a penalty of up to Rs two lakh from the next financial year under the new black money law, which has got the assent of the President.

Failure to answer questions from the tax department can entail a penalty of up to Rs 2 lakh from the next financial year under the new black money law, which has got the assent of the President.

The Company is in the process of collating and responding to all the queries raised by the Income Tax authorities and accordingly final report relating to search/survey operation will be concluded as per the laid down procedures, VIL said in a regulatory filing.

Failure to answer questions from the tax department can entail a penalty of up to Rs two lakh from the next financial year under the new black money law, which has got the assent of the President.

Failure to answer questions from the tax department can entail a penalty of up to Rs 2 lakh from the next financial year under the new black money law, which has got the assent of the President.