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ANI
Hero MotoCorp Ltd. The Income Tax Department has demanded additional tax of Rs 26.40 crore for assessment year 2020-21. Hero MotoCorp said in a stock exchange filing that the company received an order dated December 31, 2024 from the New Delhi Deputy Commissioner of Income Tax (Central Circle 27) for the assessment year 2020-21.
New Delhi. Two-wheeler manufacturing company Hero MotoCorp Ltd. The Income Tax Department has demanded additional tax of Rs 26.40 crore for assessment year 2020-21. Hero MotoCorp said in a stock exchange filing that the company received an order dated December 31, 2024 from the New Delhi Deputy Commissioner of Income Tax (Central Circle 27) for the assessment year 2020-21. According to the statement, the company had filed income tax returns for assessment year 2020-21 on December 31, 2020.
The tax officer investigated it in detail as per the provisions of the Income Tax Act, 1961. “The tax official has added approximately Rs 96.5 crore to the income,” it said. This has resulted in an additional tax demand of Rs 26.4 crore (approximately).” Hero MotoCorp said it is examining the order. The Company will take appropriate steps including filing appeals and rectification applications. “In the opinion of the management, the demand made has no solid basis,” the notice said. It is not likely to have an impact on the financial, operational or other activities of the company.
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