Vodafone India non-executive Chairman Analjit Singh, on Monday, met Revenue Secretary Sumit Bose in an attempt to resolve the Rs.11,200-crore tax liability issue related to the British firm’s acquisition of Indian telecom assets of Hutchison Whampoa.
“We met the Revenue Secretary today,” Mr. Singh told reporters but did not provide any detail when asked if a resolution was in sight.
“...that is difficult to say. But we are willing and positive and that is why we are here,” Mr. Singh said.
Vodafone has been slapped with an income tax demand notice of Rs.11,200 crore on its 2007 acquisition of Hong Kong-based Hutchison Whampoa’s stake in its Indian telecom business.
The government is likely to announce some steps to deal with the issue in the Budget for 2013-14, which will be unveiled in the Lok Sabha on February 28.