Mumbai: Every year in March, the income tax department chases tax collections in order to fulfil targets for the financial year. “A Mumbai-based MNC, which is headquartered in the US, was asked to cough up 60% of the tax demand. “In February and March, several letters were sent out to banks to deduct money from the account holder (a suspected tax evader) and pay directly to income tax department. There was pressure on assessees to deposit the tax demands much ahead of the closure of the financial year," said Maheshwari. The high court, in an order on 2 May 2018, ruled that Uber had 30 days to appeal against the tax demand.

Source: Mint April 19, 2019 22:52 UTC