Mastek Limited has informed the Exchange about resubmission of Intimation regarding receipt Final Assessment Order from the Income Tax Department for FY 2022 23 pursuant to clarification sought by BSE Limited.
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Mastek Limited has resubmitted an intimation to the stock exchanges about receiving a Final Assessment Order from the Income Tax Department for the financial year 2022-23. The resubmission was made after BSE Limited sought clarification on the earlier filing. The company has not disclosed the quantum of the tax demand or any additional financial impact in this resubmission.
This appears to be a procedural compliance filing rather than a material adverse event. Shareholders should look for any separate disclosure regarding the tax demand amount or whether the company intends to contest the order, as a large demand could affect near-term earnings.