IIFL Subsidiaries Receive Income Tax demand worth Rs 56 Crore; Company Confident of Legal Stand:

IIFL Subsidiaries Receive Income Tax demand worth Rs 56 Crore; Company Confident of Legal Stand On April 23, 2026, the company had issued an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations from 2015. This notice connects back to the SEBI Master Circular issued on January 30, 2026, and follows up on an earlier disclosure made on January 29, 2025.

Also Read

1004 Day Delay Condoned: ITAT Kolkata Criticises Lack of Hearing, Remands Case for Fresh Consideration

In the notice, the company informed the stock exchanges, BSE Limited and the National Stock Exchange of India, about some developments involving its wholly owned subsidiaries, IIFL Facilities Services Limited and IIFL Management Services Limited. Now, here’s the important part: both subsidiaries received assessment orders on April 22, 2026, from the Joint Commissioner of Income Tax (OSD) in Mumbai. These orders relate to the tax period from April 1, 2018, to February 3, 2025, under Section 158BC(1)(c) of the Income Tax Act, 1961.

Also Read

Addition under Section 68 Restricted to Sale Proceeds; Purchases Not Taxable

As a result of these orders, the tax demands have come in at Rs 6.82 crore and Rs 49.46 crore, which includes surcharges and cess. But here's the thing, both companies have assured that they’ve already settled all applicable tax liabilities. They believe they have solid legal grounds to support their case. So, they don't expect any major impact on their finances or operations moving forward. Right now, they’re looking into the best legal options, including filing appeals as necessary. This notice is just to keep everyone in the loop and maintain transparency for all stakeholders involved.