Maruti Suzuki India today has received a tax demand of Rs 779.2 crore, including interest, from the Income Tax authority for the financial year 2020. The company has been issued a final assessment order and a show cause notice for initiation.
Maruti Suzuki plans to file an appeal before the Income Tax Appellate Tribunal, stating that the order will not impact its financial, operational, or other activities.
The auto major is set to announce its Q1FY25 results on July 31. Shares of Maruti Suzuki ended 1.41% higher at Rs 12,677.90 today, July 25.
Maruti Suzuki has reassured that the tax demand will not affect its operations or financials.
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Maruti Suzuki