Nuvama Wealth Management Limited has informed the Exchange regarding 'Update on earlier intimation dated July 31, 2025'.
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Nuvama Wealth Management has informed the exchanges that the Income Tax Department has completed its onsite survey under Section 133A of the Income Tax Act, 1961, at the company's registered office in Mumbai on August 3, 2025. This is an update to an earlier intimation dated July 31, 2025, which related to a news item about the matter. The company stated it fully cooperated with the department and provided all the clarifications and information requested. No tax demand, penalty amount, or quantification of potential financial impact has been disclosed by the company.
An income tax survey is a routine enquiry but can sometimes lead to additional tax demands, penalties, or scrutiny. Investors should monitor for further disclosures on the outcome and any potential financial liability arising from the survey.