Crisil Limited has disclosed receipt of a TDS proceedings assessment order dated March 29, 2026, pertaining to the Financial Year 2019-20 (AY 2020-21). The order determines a demand concerning TDS on foreign payments, based on prior years’ assessments. The company estimates a total demand, including interest, of INR 27.24 Crores, and confirms plans to file an appeal against this order. No immediate financial impact is expected as an appeal will be initiated.
Disclosure of Tax Assessment Order
Crisil Limited officially informed the stock exchanges regarding the receipt of an assessment order from the Income Tax Authority (TDS department). This order stems from TDS proceedings initiated under section 201(1) and 201(1A) read with section 195.
The proceedings cover the Financial Year 2019-20, which corresponds to Assessment Year 2020-21. The demand determined in the order relates specifically to TDS on foreign payments.
Details of the Demand
The assessment order bases its demand on rulings from previous years concerning the same issue. Against these earlier orders, the Company has already filed an appeal before the Hon’ble CIT(Appeals).
The total quantum of the current claim, which includes interest charges, is quantified at INR 27.24 Crores.
Company Response and Financial Impact
Crisil has stated that there is no immediate impact resulting from this order on the Company’s financial standing, operations, or other activities.
The management has confirmed its intention to contest the order by filing an appeal against the recent assessment notice.
Source: BSE
