Bosch India slapped with Income Tax Notice of Rs.20 Crore by Income Tax Department:

Bosch India slapped with Income Tax Notice of Rs.20 Crore by Income Tax Department Bosch, a global technology and engineering company based in Germany, said on Monday (March 31, 2025) that it has received an income tax notice of Rs.20 crore along with interest from the Income Tax Department. This notice is for the assessment year 2022-2023. In a regulatory filing, Bosch Limited stated that "The Company has received an assessment order on March 28, 2025, for the Assessment Year 2022-2023. The order mentions that Bosch has been asked to pay a total amount of Rs.18,36,85,366 as tax, along with Rs.1,80,14,645 in interest. So, the total demand from the Income Tax Department comes to Rs.20,16,99,011. This is the amount Bosch needs to pay as per the tax assessment for that particular year." It added, The order is passed by the assessment unit of Income Tax department. The company, Bosch Limited, is currently in the process of filing an appeal against the tax demand. This means they are challenging the assessment and will ask for a review or reconsideration of the decision. Additionally, the notice does not include any specific penalty amount yet, meaning the Income Tax department has not decided on any fine or penalty for the company at this point.