Tata Capital Receives Income Tax Order
Tata Capital Limited announced receipt of an Income Tax Order under Section 143(3) read with Section 147 of the Income Tax Act, 1961. The order, issued on March 20, 2026, and downloaded by the company on March 21, 2026, pertains to Tata Capital Financial Services Limited, which merged with Tata Capital Limited with an effective date of April 1, 2023.The Income Tax Department issued a Re-assessment Order dated March 12, 2026, raising a demand of Rs. 413.18 crores, including Rs. 202.72 crores in interest, primarily due to short credit of taxes paid, interest levied, and certain disallowances for the financial year 2017-18.
According to the company, the demand of Rs. 209.52 crores for short tax credit and the levied interest of Rs. 202.72 crores are not maintainable due to errors apparent from records. Tata Capital intends to file a rectification application/appeal and expects a favorable outcome.
Further, regarding the financial year 2017-18 (assessment year 2018-19), the company has filed or is in the process of filing appeals concerning disallowances totaling a tax impact of Rs. 26.31 crores, anticipating favorable orders based on strong grounds and judicial precedent. The company does not currently foresee a material financial impact from this order.
| Particulars | Details |
|---|---|
| Name of the authority | Deputy Commissioner of Income Tax, Circle - 2(3)(1), Mumbai |
| Date of receipt of direction or order | Order issued on the Income Tax website on March 20, 2026 (Downloaded by the Company on March 21, 2026) |
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: