Tax & Penalty7 May 2026, 07:41 pm
IIFL Capital: ₹68.07 Cr Tax Demand Under Section 158BC
AI Summary
IIFL Capital Services Ltd has received a tax demand of ₹68,07,15,915 from the Joint Commissioner of Income tax (OSD), Central Circle – 4(4), Mumbai, under Section 158BC(1)(c) of the Income Tax Act, 1961, for the block period from April 01, 2018, to March 25, 2025. The company believes it has discharged all tax liabilities and will appeal the order, expecting no material financial impact.
Key Highlights
- IIFL Capital received a tax demand of ₹68.07 Cr from the Income Tax Authority.
- The demand is under Section 158BC(1)(c) of the Income Tax Act, 1961.
- The assessment period is from April 01, 2018, to March 25, 2025.
- IIFL Capital believes it has met all tax liabilities and will appeal the order.
- The company anticipates no significant impact on its financials or operations.