Vishal Mega Mart Subsidiary Receives Order from Income Tax Department
Vishal Mega Mart Limited announced that its subsidiary, Airplaza Retail Holdings Private Limited, received an order from the Office of the Assistant Commissioner of Income Tax, TDS Circle 1(1) Chennai, on March 30, 2026.The order, issued under Section 201 & 201(1A) of the Income Tax Act, 1961, alleges non-deduction of tax at source (TDS) and non-payment of interest on TDS. The order pertains to the financial year 2019-20.
The total financial impact of the order amounts to Rs. 3,28,86,743, comprised of a tax demand of Rs. 1,86,10,422 and interest of Rs. 1,42,76,321. Vishal Mega Mart stated that the order is not expected to have a material impact on the company's financial, operational, or other activities. Airplaza Retail Holdings Private Limited is currently reviewing the order and evaluating subsequent actions.
| Particulars | Information/ Remarks |
|---|---|
| Name of Authority | Office of the Assistant Commissioner of Income Tax, TDS Circle 1(1) Chennai |
| Date of receipt of direction or order | March 30, 2026 |
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