Kingfisher Airlines Flies into Tax Trouble

News Republic is reporting that Indian carrier Kingfisher Airlines is in hot water for tax violations. According to the article, the airline failed to deposit $29.3 million in tax deducted from its staff.

"Proceedings have been initiated…to crystalize the default amount, levy interest on delayed payment and take further statutory action," Minister of State for Finance S.S. Palanimanickam said in a written statement.

News Republic says that the airline has had financial problems for quite some time.

Read the full story here.