Tax & Penalty12 May 2026, 10:41 pm
IIFL Finance Faces ₹475.56 Cr Tax Demand
AI Summary
IIFL Finance Limited has been served with assessment orders by the Joint Commissioner of Income tax (OSD), Central Circle – 4(4), Mumbai, raising a tax demand of ₹4,75,56,46,790 under Section 158BC(1)(c) of the Income Tax Act, 1961, for the block period from April 01, 2018, to February 03, 2025. The company believes it has duly discharged all tax liabilities and has adequate grounds to appeal the orders. IIFL Finance does not expect any material impact on its financials or operations and is evaluating options for appeals.
Key Highlights
- IIFL Finance faces a tax demand of ₹475.56 Cr from the IT Authority.
- The demand is under Section 158BC(1)(c) of the Income Tax Act, 1961.
- The assessment period is from April 01, 2018 to February 03, 2025.
- IIFL Finance believes it has met all tax liabilities and will appeal.
- The company does not anticipate a material financial impact.