Titan Company Ltd Receives Income Tax Penalties Across Two Assessment Years
Titan Company Ltd has received penalty orders from the Income Tax Department concerning its income tax assessments for Assessment Years 2017-18 and 2019-20. The company has confirmed that it is in the process of filing an appeal against these orders.The penalties were imposed by the Assessment Unit, Income Tax Department, under Section 270A of the Income Tax Act, 1961, related to adjustments made on assessment orders concerning the reporting of income. The amounts pertaining to these penal provisions are detailed below:
| Assessment Year | Penalty Amount | Basis for Penalty |
|---|---|---|
| 2017-18 | INR 56.67 Lakhs | Adjustment on assessment order (Reporting of Income) |
| 2019-20 | INR 370 Lakhs | Adjustment on assessment order (Reporting of Income) |
Both orders were received by the company on June 26, 2026. The company noted that in case of the 2017-18 order, the delay in filing was due to internal review and evaluation of next steps, while the timeline for both penal provisions remained consistent regarding their receipt date.
Regarding the impact of these penalties on the business, Titan Company Ltd stated that there is no material impact on the financials, operations, or other activities of the company due to either penalty order.
TITAN Stock Price Movement
At 9:37 AM today, the equity of Titan Company Limited is dipping by 0.38% in live trading, currently showing a price of ₹4584.1. The stock’s movement remains constrained within its intraday range, which has seen it touch as low as ₹4554 and reach a high of ₹4600.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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