Tax & Penalty28 Sept 2026, 06:50 pm
UTI AMC Receives ₹3.31 Cr Income Tax Penalty Order
AI Summary
UTI Asset Management Company Ltd has received an Income Tax Penalty Order from the Assessment Unit Income Tax Department for ₹3,31,66,997/-. The penalty is related to an order under section 270A of the Income Tax Act, 1961, for the Assessment Year 2020-21, consequent to disallowance of certain items during FY 2019-20 assessment. The company stated that it does not foresee any material impact on its operations and plans to file an appeal against the order within the prescribed timelines. The intimation is in compliance with SEBI (LODR) Regulations, 2015.
Key Highlights
- UTI AMC received a penalty order of ₹3.31 crore from Income Tax Department.
- The penalty is for Assessment Year 2020-21, related to FY 2019-20 assessment.
- Company expects no material operational impact from the penalty.
- UTI AMC intends to appeal the order before the appropriate authority.
Price Impact
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