Expleo Solutions Limited has informed the Exchange regarding Disclosure under Regulation 30 read with Clause 20 Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
EXPLEOSOL · price
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Expleo Solutions has disclosed a Rectification Order under Section 154 of the Income Tax Act for Assessment Year 2024-25, received on May 13, 2025 from the Centralized Processing Centre, Income Tax Department, Bengaluru. The order arose because a customer of the company filed a TDS correction return, which reduced the TDS credited to Expleo, creating a shortfall in prepaid taxes versus what was originally claimed. As a result, the Income Tax Department raised a tax demand of Rs. 28,48,390 (approximately Rs. 28.5 lakhs). The company has not indicated any further financial or operational impact beyond this demand amount.
The tax demand is small (under Rs. 30 lakhs) and unlikely to be material for the company's financials. It is a procedural mismatch driven by a third party's TDS correction rather than any non-compliance by Expleo, so it should not meaningfully affect shareholders or the stock price.