Mumbai, Oct 3 (IANS) Leading carmaker Maruti Suzuki (NS: MRTI ) India Limited has received a Draft Assessment Order for Rs 2,159.70 crore from the Income Tax Authority, the company told the BSE on Tuesday.The draft assessment order dated October 3 is for the financial year 2019-20, the auto major said.
When the assessing officer finds any variance to the income or loss stated in the return filed by the assessee, he proposes a Draft Assessment Order which includes the total income or loss and the amount of tax payable.
"The company has received draft Assessment Order for the FY 2019-20 wherein certain additions/ disallowances amounting to Rs 2,159.70 crore with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed," Maruti Suzuki India Ltd said in the statement.
Maruti will file its objections before the Dispute Resolution Panel.
However, there is no impact on financial, operation or other activities of the company due to this draft Assessment Order, the company statement added.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.