SpiceJet clears TDS dues worth Rs 310 crore

By The Capital

On 29 Oct 2024 15:18:12

SpiceJet on Tuesday said it has cleared pending TDS dues worth Rs 310 crore till the September quarter of the current fiscal. The carrier, which had been facing…

SpiceJet on Tuesday said it has cleared pending TDS dues worth Rs 310 crore till the September quarter of the current fiscal. The carrier, which had been facing turbulent times, last month raised Rs 3,000 crore.

“Beginning September 26, 2024, SpiceJet has cleared over INR 600 crore in pending dues, including outstanding salaries, GST liabilities, and Provident Fund (PF) contributions. Additionally, the company has also successfully reached settlements with multiple aircraft lessors,” the airline said in a release.

According to the release, the carrier has also cleared pending TDS (Tax Deducted at Source) dues amounting to Rs 310 crore, including employee TDS, up to the second quarter of FY2025.

“We are committed to setting our house in order and are pleased to have cleared all pending TDS dues,” SpiceJet Chairman and Managing Director Ajay Singh said. Shares of the airline were trading flat at Rs 57.10 apiece in late afternoon trade on the BSE.