Polycab India Limited has informed the Exchange about General Updates
POLYCAB · price
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Polycab India received an income tax assessment order on 3rd March 2026 for Assessment Year 2024-25, which raised a demand of Rs. 327.45 crore based on disallowances and additions aggregating Rs. 41.87 crore. The company filed a rectification application under Section 154 of the Income Tax Act after identifying computational and clerical errors in the original order. Following the rectification order received on 9th March 2026, the demand has been reduced to Rs. 57.58 crore. The company believes the remaining Rs. 57.58 crore is also rectifiable due to non-granting of advance tax credit, and is planning to file another rectification application along with an appeal against the additions.
This is positive news for shareholders as the tax demand has dropped sharply by nearly Rs. 270 crore. The company has stated it does not expect any material impact on its financial position or operations, and is pursuing further legal remedies to reduce or eliminate the remaining demand.