Tax & Penalty8 May 2026, 11:06 am
TVS Srichakra Tax Demand Reduced to ₹3.11 Cr
AI Summary
TVS Srichakra Ltd. announced that the income tax demand for FY 2017-18 has been rectified and reduced from ₹29,47,06,740 to ₹3,11,10,474 following a rectification application. The company is evaluating the rectified order and will take appropriate action. An appeal against the original order is pending. The company states that the order has no material impact on its financial position or operations.
Key Highlights
- TVS Srichakra's tax demand for FY18 reduced to ₹3.11 Cr from ₹29.47 Cr.
- The reduction follows a rectification application by the company.
- The company is evaluating the rectified order for further action.
- An appeal against the original tax demand order is still pending.
- TVS Srichakra states no material impact on financials or operations.
Price Impact
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