PCMC Issues Notice To Tata Motors For more than Rs 250 Crore Tax. Tata Motors : Pimpri-Chinchwad Municipal Corporation (PCMC) has issued n...
PCMC Issues Notice To Tata Motors For more than Rs 250 Crore Tax.
Tata Motors : Pimpri-Chinchwad Municipal Corporation (PCMC) has issued notice to Tata Motors for the additional construction work.
As per Deputy Commissioner of Taxation Smita Zagde "PCMC is conducting a search operation for unregistered properties and investigation is going on"
The search is based on satellite images and the actual construction of the building against its record with the Municipal Corporation. As per the sources an private company looked into the properties issue of Tata Motors and then gave related information to the tax department and after investigation by the department, notice is given by the tax collection department.
According to a officials, claims have been filed in court by private companies regarding tax levied. Many cases are pending with court and this has affected the tax collection from private companies.
Search via satellite image:
Tata Motors has done a lot of construction but they are not registered with the tax collection department. The survey team surveyed based on satellite images. PCMC department found that some of the properties were not registered with the Municipal Corporation and does not meet with actual plans of the building permit department.
The PCMC department has issued a notice to pay Rs 259 tax to Tata Motors in two cases,
1. First case RS 194 crore taxes levied.
2. Second case; Rs 65 crore has been demanded.
Notice has been given ten days before and a period of twenty-one days has been given to explain them.
Tata Motors share market price was already falling due to semiconductor chip shortage now this negative news can impact his image.
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