Income Tax Department Passes Assessment Order for Mastek Limited for FY 2022-23; Total Addition Stands at Rs 1,23,58,26,194/-

Income Tax Department Passes Assessment Order for Mastek Limited for FY 2022-23; Total Addition Stands at Rs 1,23,58,26,194/-​

Mastek Limited has received a Final Assessment Order from the Income Tax Department concerning its financial year 2022-23. The assessment order includes significant additions under transfer pricing and domestic tax laws, and the department has also initiated penalty proceedings in connection with the matter.

The Income Tax Department issued the final assessment order on May 30, 2026. Based on this order, the following adjustments were computed:


The department has also initiated penalty proceedings under section 270A of the Income Tax Act.

Company Assessment and Next Steps​

Regarding the impact of these assessments on Mastek Limited’s operations, the company stated that it does not currently envisage any material financial implication at this stage. This assessment order was received by the company after a detailed review and verification process to ensure the accuracy and completeness of its response.

The company noted that there are several errors apparent in the Computation Sheet annexed to the order. These errors include the calculation of tax liability at a higher rate, non-allowance of foreign tax credit, and the failure to grant credit for advance tax paid by a subsidiary that had been amalgamated with the company.

Mastek Limited intends to file objections or a response to the Income Tax Appellate Authorities within the prescribed timelines.

MASTEK Stock Price Movement​

Mastek Limited shares shed 0.61% on Thursday, settling at ₹1673.1 after falling by ₹10.30. The equity saw a total traded volume of 44,108 shares during the session.