Indian pharma major Zydus Life said that its subsidiary, Zydus Healthcare Limited, received an Income Tax demand of Rs 284.58 crore.
Advertisements
Zydus Healthcare Limited, a wholly-owned subsidiary of Zydus Life received an intimation under section 143(1) of the IT Act for the assessment year 2023-2024 from the CPC, Income Tax Department, the company said in an exchange filing on December 26.
The tax intimation has been sent due to the following apparent mistakes while processing its return of income.
1. Not allowed claim for deduction under sections 80-IE and 80-JJAA of the IT Act without any basis;
2. Given short credit of taxes deducted/paid.
Source: moneycontrol
Share this content: