SpiceJet, which has started receiving funding from investors, has deposited Tax Deducted at Source of Rs 100 crore for the last financial year, according to an official.
The budget carrier has been facing multiple headwinds, including financial woes and disputes with aircraft lessors.
The official said the airline has deposited around Rs 100 crore to cover the entire TDS for all employees for the last fiscal year.
SpiceJet Chairman and Managing Director Ajay Singh has informed the airline staff about depositing the TDS amount, the official added.
A SpiceJet spokesperson confirmed the development.
Specific details about the delay in payment of TDS and related issues could not be immediately ascertained.
The official on the condition of anonymity also said that salaries for the previous month have been credited to the accounts of the employees.
On Dec. 12, the airline had said it will raise fresh capital of Rs 2,250 crore through issuance of securities. Out of that amount, the airline has so far received Rs 744 crore.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
