IIFL Capital Services' Subsidiaries Face Tax Demand Under Income Tax Act
IIFL Capital Services Limited, through its wholly owned subsidiaries, IIFL Facilities Services Limited and IIFL Management Services Limited, have received tax assessment orders from the Income Tax Authority. The orders, dated April 22, 2026, concern tax demands raised under Section 158BC(1)(c) of the Income Tax Act, 1961.The assessment covers a Block Period from April 01, 2018 to February 03, 2025, for both subsidiary entities.
The assessment orders were issued by the Joint Commissioner of Income tax (OSD), Central Circle - 4(4), Mumbai.
The financial implications of the tax demand vary across the two subsidiaries, with the following details provided in the assessment documentation:
| Subsidiary Name | Quantum of Demand | Block Period | Date of Order Receipt |
|---|---|---|---|
| IIFL Facilities Services Limited | Rs. 6.82 Crore (including surcharge and cess) | April 01, 2018 to February 03, 2025 | April 22, 2026 |
| IIFL Management Services Limited | Rs. 49.46 Crore (including surcharge and cess) | April 01, 2018 to February 03, 2025 | April 22, 2026 |
Regarding the financial impact, both IIFL Facilities Services Limited and IIFL Management Services Limited stated that they believe they have duly discharged all applicable tax liabilities. The companies noted having adequate factual and legal grounds to substantiate their position and indicated that they do not anticipate any material impact on the financials or operations of the companies due to the said orders. The subsidiaries are currently evaluating various options and plan to pursue an appeal.
IIFLCAPS Stock Price Movement
IIFL Capital Services Limited shares today slipped by 2.24% to settle at ₹317.02. The stock saw trading action on 497,904 shares, finishing significantly below its previous close of ₹324.25.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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