Sanofi India wins Rs 72.71 lakh tax relief in TDS appeal for AY 2019-20
SANOFI · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 1.0 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sanofi India received an order from the Assistant Commissioner of Income Tax giving effect to a favorable appellate order from CIT(A) for Assessment Year 2019-20. The order deletes a prior tax demand of Rs 72.71 lakh that had been raised for alleged non-deduction of TDS on year-end provisions. The company confirms there is no material impact on its financials, operations, or other activities.
Positive for shareholders. A prior tax demand of Rs 72.71 lakh has been fully vacated, removing a contingent liability with no financial hit.