TV Today Network Ltd Receives Rs. 11,16,14,958/- Demand Notice from ACIT for FY 2019-20

TV Today Network Ltd has received a demand notice of Rs. 11,16,14,958/- for the Financial Year 2019-20 from the Assistant Commissioner of Income Tax (ACIT) Circle 25(1) Delhi. The demand notice was received after a rectification order passed under Section 154 read with Section 143(1) of the Income Tax Act, 1961. The demand is due to an incorrect set off of carried forward losses, but there is no material impact on the financials, operations, or other activities of the Company. The Company plans to file an appeal before the Commissioner of Income Tax (Appeals) against the demand notice.