Mumbai, Aug. 13 -- Gensol Group companies deducted tax from employee salaries before going belly-up, but didn't deposit the tax deducted at source (TDS) with authorities for a year, four former executives who are aware of the matter said.
That leaves about 2,200 former employees of the group in a situation where they might have to pay the taxes again, this time to the Income Tax department, as Indian law holds the employee liable for paying tax even where the employer is at fault, despite multiple court orders to the contrary.
The group companies have not paid any salaries since March 2025, the former executives said on the condition of anonymity as they did not want to be publicly associated with the beleaguered group.
Gensol Engineer...
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