SRM Contractors Limited has informed the Exchange about Action(s) initiated or orders passed
SRM · price
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Awaiting price reaction for this filing.
SRM Contractors Limited has received an order from the Income Tax Department under Section 154 of the Income Tax Act, 1961, flagging a mismatch between tax credits claimed and allowed by the company. The total demand, including tax, penalty, and interest, amounts to Rs. 11,42,330 (approximately Rs. 11.42 lakhs). The order was received by the company on April 7, 2025, and has been disclosed to the exchanges under SEBI Listing Regulations. The company has clarified that there is no material impact on its financials, operations, or other activities due to this order.
The tax demand is small relative to typical company operations and the company states it has no material financial impact. Shareholders are unlikely to see a meaningful effect on the stock price, though the company may contest or pay the demand during the usual appeal period.