Vishal Mega Mart’s subsidiary, Airplaza Retail Holdings Private Limited, has received an order from the Office of the Assistant Commissioner of Income Tax, TDS Circle 1(1) Chennai, the company disclosed to the National Stock Exchange on March 31, 2026.
The order was passed under Section 201 and 201(1A) of the Income Tax Act, 1961, and was issued on March 30, 2026. The tax authority alleged non-deduction of Tax Deducted at Source (TDS) and non-payment of interest on TDS for the financial year 2019-20.
The total monetary impact of the order amounts to ₹3,28,86,743, comprising a tax demand of ₹1,86,10,422 and interest of ₹1,42,76,321. However, Vishal Mega Mart stated that there is no further material impact on the financial, operational, or other activities of the company due to the order.
The subsidiary company is currently reviewing the order and evaluating its next steps in response to the tax authority’s direction. Vishal Mega Mart made the disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).