Update on a rectification order received from the Income Tax Department
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ICRA Analytics Limited (ICAL), a wholly owned material 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 ICAL. The company has stated there is no immediate financial implication as it plans to file the necessary appeal, stay of demand, and rectification application against the order. This disclosure is made under SEBI Listing Regulations, 2015 (Regulation 30).
The tax demand of Rs. 19.17 crore represents a potential liability but ICRA has indicated it will contest the order through legal remedies, reducing near-term risk to shareholders.