Bad news came about Dabur India after the market closed, keep an eye on the stock

Dabur India Ltd. has received a demand order of ₹110.33 crore from the Income Tax Department. The order has been issued under section 156 of the Income Tax Act, 1961 and relates to the re-valuation of the financial year 2017-18.

The Income Tax Department says that Dabur has wrongly claimed tax exemption under in-house research and development (R&D) and Section 14A.

The company said that it will file an appeal against this order at the necessary forums. A re-counting petition will also be filed under Section 154 so that the mistakes made in the calculation of the tax demand can be corrected. Dabur hopes that this demand can be reduced to a great extent. Dabur's side The company claims that a large amount has been wrongly included in the tax demand of ₹ 110.33 crore. This also includes the income which had already been added in the original 143 (3) order of Assessment Year 2018-19. The tax demand of ₹ 36.77 crore has been issued without any clear discussion. The company also hopes for a decision in its favor regarding the remaining tax demand related to in-house R&D and Section 14A. There will be no financial impact - Dabur Dabur India said that this order will not have any major business impact and even if there is any impact, it will be limited only to the determination of the final tax demand.

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