Maruti Suzuki gets Rs 2,159.70 crore Draft Assessment Order from Income Tax Authority

4 Oct 2023 , 09:50 AM

Maruti Suzuki India Limited informed the bourses that it has received a Draft Assessment Order for Rs 2,159.70 crore dated October 3, 2023, from the Income Tax Authority.

The company informed that the draft assessment order pertains to financial year 2019-20.

When the assessing officer discovers a discrepancy between the income or loss stated in the assessee’s return, he offers a Draft Assessment Order for the assessee’s objection or acceptance.

Maruti will present its concerns to the Dispute Resolution Panel. However, it stated that the draft Assessment Order has no effect on the company’s financial, operational, or other activities.

Recently, Maruti Suzuki has also announced an increase of about 1% in its overall prices.

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