IIFL Capital Subsidiaries Face ₹56.28 Cr Income Tax Demand
IIFL Capital Services Ltd (formerly IIFL Securities Ltd) announced that its wholly-owned subsidiaries, IIFL Facilities Services Limited and IIFL Management Services Limited, have received tax demand orders from the Joint Commissioner of Income Tax. The total demand amounts to ₹56.28 Crore, comprising ₹6.82 Crore for IIFL Facilities Services and ₹49.46 Crore for IIFL Management Services, for the block period from April 01, 2018, to February 03, 2025. The orders were received on April 22, 2026. The companies assert they have duly discharged all tax liabilities and possess adequate factual and legal grounds to challenge the orders. They do not anticipate any material financial or operational impact and are evaluating options to pursue appeals.
Key Highlights
- IT Authority raised ₹56.28 Cr tax demand on IIFL Capital's subsidiaries.
- Demand includes ₹6.82 Cr for Facilities Services, ₹49.46 Cr for Management Services.
- Orders received April 22, 2026, for block period April 2018 to February 2025.
- Management believes it has strong grounds and expects no material financial impact.
- Companies plan to appeal the assessment orders under applicable laws.