ICRA Limited has informed the Exchange about General Updates
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ICRA Analytics Limited, a wholly owned subsidiary of ICRA Limited, has received a rectification order dated 19 May 2026 from the Income Tax Department for FY 2024-25. The order raises an outstanding tax demand of Rs. 19.17 crore against the subsidiary. The company states there is no immediate financial implication as it plans to file an appeal and stay of demand along with a rectification application against the order. This disclosure is made under SEBI's Listing Obligations and Disclosure Requirements Regulations.
The tax demand of Rs. 19.17 crore is being contested by the company, so no immediate outflow is expected. However, if the appeal fails, it could impact ICRA's financials since ICRA Analytics is a material subsidiary.