Laxmi India Finance Limited has informed the Exchange about General Updates
LAXMIINDIA · price
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Laxmi India Finance Limited informed the exchanges that the Income Tax Department, Jaipur, has approved the company's application for compounding of an offence related to delayed TDS deposit of Rs. 55.84 lakh during FY 2016-17. The company had already paid Rs. 50,000 as compounding fee, and an additional Rs. 2,82,550 has been demanded, payable by October 31, 2025. Promoter directors were previously held as 'Principal Officers' and deemed guilty under Section 276B of the Income-tax Act in December 2024. The company has stated the matter will not have any material impact on its financial, operational, or other activities. Total compounding charges come to approximately Rs. 3.33 lakh — a small amount relative to the company's operations.
Minor regulatory housekeeping matter with negligible financial impact (under Rs. 4 lakh total). Unlikely to affect stock price or shareholder value as the company has resolved the issue through compounding.