Tata Capital Limited has informed the Exchange about disclosure under Regulation 30 of SEBI Listing Regulations regarding receipt of Income Tax Order
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Tata Capital Limited has disclosed receiving an Income Tax re-assessment order dated March 12, 2026 (uploaded March 20, 2026) from the Deputy Commissioner of Income Tax, Mumbai, raising a total demand of Rs. 413.18 crores (including interest of Rs. 202.72 crores). The order pertains to its erstwhile subsidiary Tata Capital Financial Services Limited (TCFSL), which merged with Tata Capital with an appointed date of April 1, 2023, for Financial Year 2017-18. The tax department allegedly gave credit of taxes paid by Tata Capital (Rs. 16.36 crores) instead of taxes paid by TCFSL (Rs. 225.89 crores), leading to a short credit of Rs. 209.52 crores and consequent interest levy. The company states there are clear errors in the computation sheet and plans to file a rectification/appeal, expressing confidence in a favourable outcome with no expected material financial impact.
At this stage, the demand is not expected to materially affect Tata Capital's financials, operations, or activities as the company is contesting the order citing computational errors. However, investors should monitor the appeal process as an adverse outcome could lead to a significant financial hit.