BSNL receives a demand notice of Rs 62.34 billion from IT department

The Income Tax Department has issued a tax notice of Rs 62.34 billion to Bharat Sanchar Nigam Limited for under-reporting its income in 2011-12.  BSNL had reported revenues of 279.33 billion in 2011-12, a decline of six per cent over revenues of Rs 296.87 billion in 2010-11. Rs.

The state-run telecom company had also reported an increase in its losses to about Rs 88.50 billion during 2011-12 due to regulatory expenses and non-receipt of funds for its rural landlines operations.