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     Blazewada Mudiripoyina Bewarse Username: Blazewada Post Number: 21618 Registered: 08-2008 Posted From: 111.223.89.209 Rating: N/A |
Nela naakadaniki sidhamga unatlundi. kingfisher trend set chesindi, eellu follow aitunnaru.. idi gaaane ethithe inka verevi prices tho rechutaayi. Indigo okkate success aindi, proper indian company with good management. NEW DELHI/MUMBAI: SpiceJet employees are a nervous lot these days. The loss-ridden low cost carrier (LCC) deducted tax from their salaries but has neither given a TDS certificate, nor Form 16 so far — raising questions if the same has indeed been deposited with the government. With the last date of filing tax return for fiscal 2013-14 just three days away, employees are sending frantic mails to the management but have not got any response from the airline so far. "No one seems to know what's happening in the airline as we have not got even a response or acknowledgement to our repeated mails to HR asking for Form 16. Pilots get a separate foreign travel allowance, which is Rs 1.2 lakh for captains and Rs 80,000 for co-pilots, in April. This year even that money has not come," said an employee. Incidentally, you cannot file a tax return without the Form 16. Default on tax deposit is usually the first signs of a serious financial crisis in any corporate, which showed up when another airline Kingfisher, started its downward spiral. With the memories of Vijay Mallya's failed airline still fresh, SpiceJet employees are now worried about their airline's future. Centre for Asia Pacific Aviation (CAPA) India head Kapil Kaul said: "We estimate SpiceJet requires about $ 250 million as of March, 2014, to bring its books in order. It may require further fund infusion for growth and expansion. Raising capital in next one to three months is critical. The LCC's restructuring efforts are not showing results largely due to very complex competitive dynamics. We expect a significant downsizing post a possible fund infusion." |