(a) the total asset and annual income of Jet Airways as on date;
(b) the income of Jet Airways during each of the last three years;
(c) whether the Airways has paid its income tax and other financial liabilities to the government during each of the last three years;
(d) if so, the details thereof and if not, the reasons therefor; and
(e) the action taken and proposed to be taken by the Government against the company for not depositing the income tax and other financial liabilities?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI GINGEE N. RAMACHANDRAN)
(a) & (b) The total assets and the returned income of
M/s. Jet Airways for the last three years are as
per Statement ‘A’.
(c) & (d) The income shown and the taxes paid by
M/s. Jet Airways during the last three years are as
per Statement ‘B’.
(e) There is no case pending against M/s. Jet Airways
for not depositing income tax. Therefore, no action
is proposed to be taken.
Statement ‘A’
Total assets and returned income of M/s. Jet Airways for the last three years
Sl.No. Financial Year Assessment Year Returned Income/ Loss Total Assets
1. 1999-2000 2000-2001 (Loss) Rs. 21.57 Crores Rs. 1768.70 Crores
2. 2000-2001 2001-2002 (Loss) Rs. 80.05 Crores Rs. 1965.04 Crores
3. 2001-2002 2002-2003 (Loss) Rs. 177.53 Crores Rs. 4356.60 Crores
Statement ‘B’
Deemed income u/s 115 JA/ 115 JB of the Income Tax Act and taxes paid by M/s. Jet Airways for the last three years
Sl. No. Financial Year Assessment Year Deemed income u/s 115 JA/115 JB of the Income Tax Act Taxes Paid
1. 1999-2000 2000-2001 Rs. 3.79 Crores Rs. 1.46 Crores
2. 2000-2001 2001-2002 Rs. 13.64 Crores Rs. 1.16 Crores
3. 2001-2002 2002-2003 Nil Nil