The Income Tax Department has sent a demand notice of about Rs 605 crore including interest for six assessment years to the country’s largest two-wheeler company Hero MotoCorp.
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The company gave information
The company gave this information on Thursday. The company told the stock market in a filing that it has received the assessment order/demand notice dated March 30, 2024 from the Income Tax Department on April 3, 2024.
According to a statement from the company, the two-wheeler manufacturer is examining the orders/information received and will take appropriate steps including filing appeal-rectification application.
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Interest of Rs 296.22 crore
Hero MotoCorp said the notice pertains to six assessment years, which includes a tax demand of Rs 308.65 crore and interest of Rs 296.22 crore.
Hero MotoCorp violated the rules!
It says this is in relation to violation of certain rules for assessment years 2013-14 to 2017-18 and 2019-20.
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