Zydus Lifesciences Subsidiary Company Zydus Healthcare Limited Got 284.58 Crore Notice From IT Department Know Details

IT Notice to Zydus Healthcare: Zydus Healthcare, a subsidiary of leading pharma company Zydus Lifesciences, has received a notice from the Income Tax Department. According to the report published in Money Control, the pharma company has received an income tax demand notice of Rs 284.58 crore. Giving information about this, Zydus Lifesciences has informed that it has received this notice from the IT department on December 26 for the assessment year 2023-24.

The company said this

According to the information given by Zydus Lifesciences to the stock market, the IT Department has sent this notice to its subsidiary company Zydus Healthcare Limited under Section 143 (1) of the Income Tax Act 1961. This notice is of tax demand of Rs 284.58 crore.

Why did the company get the notice?

The Centralized Processing Center (CPC) of the Income Tax Department has found some significant deficiencies in the e-filing of Zydus Healthcare Limited for assessment year 2023-24. For this reason, the company has received this notice, but Zydus Healthcare has full hope that it will remove the shortcomings of its e-filing as soon as possible and in such a situation it will not have to pay the amount of demand notice. The company has already expressed its disagreement on the notice of the IT department and said that it will soon file a petition under Section 154 of the IT Act to correct the mistakes. The legal team of the company has expressed the hope that they will be able to present the correct facts in defense of their company and they will not have to pay the fine amount.

After receiving the news of the IT Department's notice, there was some decline in the company's shares on Tuesday and the company's shares closed at the level of 676.17 with a decline of 0.56 percent on Tuesday. After some initial fall on Wednesday, the shares made some comeback and were up 0.36 per cent at Rs 678.65 in afternoon trade.

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