3i Infotech Records Settlement Under Vivad Se Vishwas Scheme for Tax Disputes
3i Infotech Limited announced that it has received Certificates in Form 2 from the Principal Commissioner of Income Tax (PCIT) concerning tax litigations settled under the 'Direct Tax Vivad Se Vishwas Scheme, 2024'.The development marks the completion of the initial phase of the settlement process for several assessment years. The Certificates were issued following the Company's decision to opt for the Scheme, which was introduced via the Finance (No. 2) Act, 2024, designed to resolve tax disputes. The Company noted that the relevant details are reflecting on the Income Tax portal, with the occurrence of the event taking place on May 27, 2026, at 8:21 p.m.
The settlement covers claims related to five assessment years: AY 2012-13, AY 2013-14, AY 2014-15, AY 2016-17, and AY 2018-19.
The total disputed additions/disallowances across these years amount to Rs. 79,838 lakhs.
The details of the settlement are presented below:
| Assessment Year | Date of Form 2 | Date of Issue of Form 2 | Amount of Disputed Additions/Disallowances (Rs. in lakhs) |
|---|---|---|---|
| AY 2012-13 | April 24, 2026 | April 29, 2026 | 6,806 |
| AY 2013-14 | May 6, 2026 | May 6, 2026 | 38,825 |
| AY 2014-15 | May 6, 2026 | May 6, 2026 | 23,998 |
| AY 2016-17 | May 6, 2026 | May 6, 2026 | 7,876 |
| AY 2018-19 | May 11, 2026 | May 11, 2026 | 2,333 |
| Total | 79,838 |
Regarding the financial impact of the settlement, the Company stated that the total accumulated brought forward losses available with 3i Infotech Limited shall be reduced by Rs. 79,838 lakhs. The settlement is not expected to result in any incremental cash outflow for the Company, and it is stated that there is no material impact on the operations or activities of 3i Infotech Limited.
3IINFOLTD Stock Price Movement
On Wednesday, 3i Infotech Limited shares edged higher to close at ₹17.3, gaining 0.29% and marking a modest climb from the previous session. The equity traded on a volume of 478,339 shares, settling well above its day's low of ₹16.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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