Maruti Suzuki India Limited on Tuesday received a Draft Assessment Order from the Income Tax Authority worth Rs 5,786 crore.
The automaker will file its objections before the Dispute Resolution Panel, it said in a regulatory filing. Maruti Suzuki stated that the income tax notice has no impact on financial, operational or other activities of the company.
Also read: Maruti Suzuki steps up SUV bet with higher market share, eyes more launches in next 5 yrs
Maruti Suzuki share price: The shares of Maruti Suzuki India Limited (MSIL) were trading at Rs 12,986.00 per scrip after a 1.82% hike.
"The Company has received a Draft Assessment Order for the FY 2022 – 23 wherein certain additions/disallowances amounting to Rs 57,864 million with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed," it said.
As per the unaudited Q3 financial results, Maruti paid a sum of Rs 10,360 million classified as "total tax expenses".
Maruti's sales volume stood at Rs 667,769 million with PAT at Rs 37,940 million.
In the first nine months of FY26, the automaker sold 1,435,945 units, reporting a 3.9% annual growth. This included 76,044 mini car models, 597,189 compact car models, 1,980 mid-size vehicles and 541,266 Utility Vehicles (UVs).
On the Q4 projections, Rahul Bharti of MSIL earlier said, "So, quarter 4 seems to be good, but we need to look beyond, and we'll make an assessment in a few months from now. Temporarily, we had given out an initial figure of about 7% volume growth on a sustainable level for the industry, but we'll make an assessment in about 3 months."
The automaker will file its objections before the Dispute Resolution Panel, it said in a regulatory filing. Maruti Suzuki stated that the income tax notice has no impact on financial, operational or other activities of the company.
Also read: Maruti Suzuki steps up SUV bet with higher market share, eyes more launches in next 5 yrs
Maruti Suzuki share price: The shares of Maruti Suzuki India Limited (MSIL) were trading at Rs 12,986.00 per scrip after a 1.82% hike.
"The Company has received a Draft Assessment Order for the FY 2022 – 23 wherein certain additions/disallowances amounting to Rs 57,864 million with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed," it said.
As per the unaudited Q3 financial results, Maruti paid a sum of Rs 10,360 million classified as "total tax expenses".
Maruti's sales volume stood at Rs 667,769 million with PAT at Rs 37,940 million.
In the first nine months of FY26, the automaker sold 1,435,945 units, reporting a 3.9% annual growth. This included 76,044 mini car models, 597,189 compact car models, 1,980 mid-size vehicles and 541,266 Utility Vehicles (UVs).
On the Q4 projections, Rahul Bharti of MSIL earlier said, "So, quarter 4 seems to be good, but we need to look beyond, and we'll make an assessment in a few months from now. Temporarily, we had given out an initial figure of about 7% volume growth on a sustainable level for the industry, but we'll make an assessment in about 3 months."
