Live
- 525 candidates remain in fray for 17 LS seats in Telangana
- Political Prowess on Display: Rajnath Singh and Smriti Irani's nominations galvanise BJP’s poll campaign
- TN government committee identifies 42 elephant corridors in state
- Ola Cabs CEO Hemant Bakshi steps down, firm announces job cuts
- IPL 2024: Kuldeep Yadav's 35 not out propels Delhi to 153/9 against Kolkata
- BJP leader Sambit Patra files nomination for Puri Lok Sabha seat
- Rajiv Pratap Rudy accuses Lalu Prasad of 'killing' developmental schemes in Saran
- Quick action by Telangana Cyber Security Bureau saves citizen's Rs 1 crore
- Types of food diabetics should avoid
- Celebrating National Honesty Day: 20 Quotes to Inspire Integrity
Hero MotoCorp gets Income Tax Dept notice to pay up Rs 605 crore
Auto giant Hero MotoCorp on Thursday said it has received a notice from the Income Tax Department to pay up Rs 605 crore as tax and interest for six assessment years.
New Delhi: Auto giant Hero MotoCorp on Thursday said it has received a notice from the Income Tax Department to pay up Rs 605 crore as tax and interest for six assessment years.
"The company on April 3 received assessment orders/demand notices dated March 30, 2024, pertaining to six assessment years from the Income Tax Department," Hero MotoCorp stated in a stock exchange filing.
The company disclosed that the tax demand amounted to Rs 308.65 crore while another Rs 296.22 crore was charged as interest.
"This is on account of certain disallowances, for the assessment years 2013-14 to 2017-18 and 2019-20," the leading two-wheeler maker said.
The notice is on account of certain disallowances in the mentioned assessment years.
The company also said that it will be filing appeals against the orders with the appellate authorities, and also file rectification applications.
"In the opinion of the management, the demand raised is unsustainable in nature, and is unlikely to have material impact on financials, operations or other activities of the company," Hero MotoCorp added.
