Corporate training solutions provider NIIT Learning Systems Ltd (NIIT MTS) has received a demand notice of Rs 14.93 crore from the Income Tax Department for the assessment year 2023-24, according to a regulatory filing on Friday.
“The Assessment Unit of the Income Tax Department, under the faceless assessment proceedings, has passed an order under Section 143(3) and issued a Notice of Demand under Section 156 of the Income-tax Act, 1961, for the Assessment Year 2023-24 for an amount of Rs 14,93,39,220 (including interest),” the company said.
It, however, stated that the demand has arisen due to an “apparent mistake” in the computation sheet, including a short credit of prepaid taxes, and it does not expect any impact on its financials or operations.
“Based on the facts of the case and professional advice, the company believes that the demand is not sustainable and is expected to be rectified.
Source from: https://money.rediff.com/news/market/niit-gets-rs-14-93-cr-income-tax-demand-notice/44311920260327
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