Sagility receives ₹100 Cr income tax demand for AY23-24

Sagility Ltd has received a final income tax assessment order from the Income Tax Department for Assessment Year 2023-24 (Financial Year 2022-23). The order includes an income tax demand of ₹100,00,36,187, which comprises interest. This demand arises from transfer pricing adjustments totaling ₹189,50,16,208 made to the company's returned income. Sagility believes the demand is not maintainable and, based on tax advisor advice, is preparing to file an appeal with the Commissioner of Income Tax (Appeals). Additionally, the company plans to file a rectification application to correct apparent mistakes, which could significantly reduce the demand. Sagility states that this assessment order will have no material impact on its financials, operations, or other activities.