New Delhi, April 4 (IANS) Auto big Hero MotoCorp on Thursday stated it has obtained a discover from the Earnings Tax Division to pay up Rs 605 crore as tax and curiosity for six evaluation years.
“The corporate on April 3 obtained evaluation orders/demand notices dated March 30, 2024, pertaining to 6 evaluation years from the Earnings Tax Division,” Hero MotoCorp said in a inventory trade submitting.
The corporate disclosed that the tax demand amounted to Rs 308.65 crore whereas one other Rs 296.22 crore was charged as curiosity.
“That is on account of sure disallowances, for the evaluation years 2013-14 to 2017-18 and 2019-20,” the main two-wheeler maker stated.
The discover is on account of sure disallowances within the talked about evaluation years.
The corporate additionally stated that will probably be submitting appeals towards the orders with the appellate authorities, and likewise file rectification functions.
“Within the opinion of the administration, the demand raised is unsustainable in nature, and is unlikely to have materials impression on financials, operations or different actions of the corporate,” Hero MotoCorp added.
–IANS
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