Maruti Suzuki receives Rs 2,160 crore draft income tax assessment order

Maruti Suzuki India will file its objections before the Dispute Resolution Panel.

Maruti Suzuki India Limited received a Draft Assessment Order for Rs 2159.70 crore dated October 3 from the Income Tax Authority, the company said in a BSE filing.

The draft assessment order is for the financial year 2019-20, it 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 to invite the assessee’s objection or acceptance.

“The company has received draft Assessment Order for the FY 2019-20 wherein certain additions/ disallowances amounting to Rs 2159.70 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, it said.