Hinduja Global Solutions Limited has informed the Exchange about Assessment Orderunder Section 143(3) of the Income Tax Act, 1961 passed by the Office of the Assistant Commissioner ofIncome Tax, Central Circle 2(3), Mumbai for AY 2021-22

The Income Tax Department has passed an assessment order for AY 2021-22 disallowing foreign exchange loss of Rs. 34.31 crores, resulting in a tax demand of Rs. 15.49 crores including interest of Rs. 6.95 crores. The company strongly disagrees with the order, stating the disallowed loss is allowable business expenditure under Section 37 of the Income Tax Act. HGS is reviewing the order with tax and legal advisors and intends to file an appeal before the Commissioner of Income Tax (Appeals). The company also plans to seek rectification under Section 154 due to what appears to be an error in the interest calculation. The assessment was received on April 1, 2026, and the company states there is no material financial impact.