Mastek faces a Rs 123.58 crore tax addition and plans to challenge the order.
Jasmine | Jun 5, 2026 |
Mastek Limited Receives Rs 123.58 Crore Income Tax Addition for FY 2022-23
IT services firm “Mastek Ltd” on June 3, 2026, said it has received a final income tax assessment order for FY 2022-23 in which the Income Tax Department has made additions of Rs 123.58 crore to the company’s taxable income.
The order was received on May 30, 2026, and includes a transfer pricing adjustment of Rs 90.95 crore under Section 92CA(3) and a domestic tax addition of Rs 32.63 crore.
The Income Tax Department has also initiated penalty proceedings against Mastek under Section 270A of the Income Tax Act.
Mastek stated that the assessment order contains apparent errors in the computation sheet, including a higher tax rate calculation, the non-allowance of foreign tax credit, and the non-grant of advance tax credit paid by an amalgamated subsidiary.
Mastek said it will file objections and responses before the Income Tax Appellate Authorities within the prescribed timelines. The company believes the order will not have any material financial impact and does not expect any effect on its financials, operations, or business activities.
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