Jtekt India Limited has informed the Exchange about General Updates
JTEKTINDIA · price
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Jtekt India has informed the exchange that it has received an order under Section 148A(3) of the Income Tax Act, 1961 from the Income Tax Department for financial year 2018-19. The order relates to its erstwhile subsidiary JTEKT Sona Automotive India Limited (JSAI), which was merged with Jtekt India effective April 1, 2018. The Income Tax Department alleges that transactions worth approximately ₹1,149.2 crore (₹6,647 Mn turnover, ₹4,843 Mn purchases, ₹2 Mn foreign remittance) recorded in the name of JSAI appear to have escaped assessment. A notice under Section 148 dated June 30, 2025 has been issued, and the company plans to file a reply within the prescribed timeline. The company states the notice currently has no financial, operational, or other impact and imposes no penalties or fines at this stage.
This is a procedural tax notice at an early stage with no immediate financial penalty or operational impact disclosed by the company. However, shareholders should monitor the response and potential tax assessment outcome, as it involves a large transaction value (~₹1,149 crore) and could lead to a future tax demand if not resolved favourably.