Vakrangee Ltd fined ₹60,703 by Income Tax Dept

Vakrangee Limited has received penalty orders from the Income Tax Department under section 270A of the Income-tax Act, 1961, for the Assessment Year 2018-19. The penalty amounts to ₹60,703. The action stems from a disallowance of expenditure under Section 37(1) of the Income Tax Act, 1961. The company has stated that this penalty does not have a material impact on its financials, operations, or other activities.