IIFL Finance has received a significant tax demand from the Joint Commissioner of Income Tax, Central Circle – 4(4), Mumbai, amounting to Rs 475.56 crore. This demand pertains to the block period from April 1, 2018, to February 3, 2025, as per the assessment orders dated May 12, 2026.
The assessment order, issued under Section 158BC(1)(c) of the Income Tax Act, 1961, was received by the company on May 12, 2026. Despite the substantial demand, IIFL Finance maintains that it has adequately discharged all its tax liabilities applicable during the specified period.
The company has stated that it possesses sufficient factual and legal grounds to support its position and does not anticipate any material impact on its financials or operations due to the assessment orders. IIFL Finance is currently evaluating various options and plans to pursue appeals against the said orders under the applicable laws.
This development comes in the wake of the SEBI Master Circular dated January 30, 2026, which necessitates such disclosures. IIFL Finance, in its regulatory filing, has assured stakeholders that it is taking necessary steps to address the issue.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).