Maruti Suzuki India Gets Tax Demand of Rs 779.2 Cr from I-T Authorities

By: Admin | July 27, 2024 | Categories: Income Tax News

Automaker Maruti Suzuki India Ltd (MSIL) announced on Friday that it has received a demand of Rs 779.2 crore, including interest, from the Income Tax authority.

MSIL received a final assessment order for the financial year 2019-20 from the Income Tax authority, as stated in a regulatory filing. The order includes a total demand of Rs 779.2 crore, inclusive of interest. Additionally, MSIL has received a showcause notice for the initiation of penalty proceedings related to the order.

MSIL plans to file an appeal before the Income Tax Appellate Tribunal. The company clarified that this order does not impact its financial, operational, or other activities.

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