New Delhi sources reported that fugitive liquor baron Vijay Mallya said he has become the "Poster Boy" of bank default and a lightning rod of public anger, and there's nothing he could do "if politically motivated extraneous factors interfere" with his efforts to settle the dues. Meanwhile when speaking after "two years of silence" over the controversy surrounding him in the over Rs 9,000 crore Kingfisher Airlines loan default case, Mallya denied that he was a willful defaulter.
Moreover tired of "relentless pursuit" of him by "the government and its criminal agencies", Mallya said he had even written letters to both the Prime Minister and the Finance Minister on April 15, 2016 to explain his side of the story. He said "The ED have also attached assets belonging to him, his group companies and companies owned and or controlled by his family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore”.
Furthermore when citing reports of ED objecting to public sector banks'
claim to the proceeds arising from the sale of his assets, Mallya said, "This
is a clear example of politically motivated abuse of power with no legal basis
whatsoever and behaves the fundamental question of whether the government wants
me to repay the public sector banks or not".
Importance of filing Income tax, Filing Last date July 31 Previously in 2010, the Indian government declared July 24 the National Income Tax Day. Perhaps this is just six days before July 31, which is the last date for filing an income tax return (ITR) which is mandatory for anybody earning over Rs 250,000 annually. Meanwhile on an average, an urban professional falls under the tax bracket right from the beginning of his/her career.
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