While the government is investigating major telecom operators for hoarding spectrum and acquiring new licences through alleged fronts, the finance ministry is examining major acquisitions and mergers in the sector and is likely to slap them with demand notices on capital gains tax.
Prominent among those who may soon be served notices include New Cingular Wireless Services Inc with AT&T Mauritius for acquiring Idea Cellular Ltd. In the case of Vodafone International Holding BV with Hutchison Telecommunication acquiring Hutchison Essar Ltd, the Supreme Court has already asked the British telecom giant to deposit Rs 2,500 crore against a demand of over Rs 11,000 crore.
Other major deals under the tax scanner are Sanofi Pasteur Holding with Merieux Alliance and Groupe Industriel Marcel Dassault for acquiring Shantha Biotechnics; transfer of stake in GE Capital International services/Genpact India and SKR BPO Services deal with Barclays, Mauritius, for acquiring Intelnet Global Services.
http://timesofindia.indiatimes.com/india/Telecom-mergers-under-I-T-scanner/articleshow/7045520.cms
Prominent among those who may soon be served notices include New Cingular Wireless Services Inc with AT&T Mauritius for acquiring Idea Cellular Ltd. In the case of Vodafone International Holding BV with Hutchison Telecommunication acquiring Hutchison Essar Ltd, the Supreme Court has already asked the British telecom giant to deposit Rs 2,500 crore against a demand of over Rs 11,000 crore.
Other major deals under the tax scanner are Sanofi Pasteur Holding with Merieux Alliance and Groupe Industriel Marcel Dassault for acquiring Shantha Biotechnics; transfer of stake in GE Capital International services/Genpact India and SKR BPO Services deal with Barclays, Mauritius, for acquiring Intelnet Global Services.
http://timesofindia.indiatimes.com/india/Telecom-mergers-under-I-T-scanner/articleshow/7045520.cms
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