IIFL Finance has received a tax demand notice totaling Rs 4,75,56,46,790 from the Income Tax authorities. The demand relates to the block period spanning April 1, 2018, to February 3, 2025. The company maintains that it has discharged all applicable tax liabilities and intends to challenge the orders through the appropriate legal appellate process.
Details of the Tax Order
On May 12, 2026, IIFL Finance received assessment orders from the Joint Commissioner of Income Tax. These orders concern a block period of nearly seven years, specifically from April 01, 2018, to February 03, 2025. The total quantum of the demand raised by the authority stands at Rs 4,75,56,46,790.
Company Stance and Next Steps
In response to the notice, the company has clarified its position regarding the financial implications. IIFL Finance asserts that it has complied with all tax obligations and believes it holds strong factual and legal grounds to contest the demand. Consequently, management does not anticipate any material impact on its financial standing or business operations resulting from these orders.
The company is currently evaluating various legal avenues and has confirmed its intent to pursue appeals against the assessment orders under the applicable tax laws.
Source: BSE
