Piramal Finance Limited has informed the Exchange about receipt of Income Tax assessment order
PIRAMALFIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Piramal Finance Limited has received an income tax assessment order for Assessment Year 2024-25 (FY 2023-24), following scrutiny under the Computer-Assisted Scrutiny Selection process. The order has allowed a tax loss of Rs. 10,110 crore in respect of the return of income filed by the company. With this order, the cumulative assessed tax losses now stand at approximately Rs. 24,600 crore. The company has disclosed this to the stock exchanges as a matter of abundant caution.
This is a positive development for shareholders as the formal recognition of Rs. 10,110 crore in additional tax losses gives the company a larger buffer to offset against future taxable income, potentially reducing future tax outflows. There is no immediate cash or profit-and-loss impact, and no penalty has been reported.