Maruti Suzuki Hit With Rs 779.2 Cr Tax Demand
Jul 26, 2024 19:50
Maruti Suzuki India Ltd has received a Rs 779.2 crore tax demand from the Income Tax authority for the financial year 2019-20. The company plans to appeal the order.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jul 26 (PTI) Automaker Maruti Suzuki India Ltd on Friday said it has received a demand of Rs 779.2 crore, including interest from the Income Tax authority.
The company has received a final assessment order for the financial year 2019-20 from the Income Tax authority, Maruti Suzuki India Ltd (MSIL) said in a regulatory filing.
The order has a total demand, including interest, of Rs 779.2 crore, it said, adding that it has also received a showcause notice for initiation of penalty proceedings with respect to the order.
MSIL said it will file an appeal before the Income Tax Appellate Tribunal. There is no impact on financial, operation or other activities of the company due to this order.
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