Hexaware Technologies has received a favorable appellate order concerning tax demands for FY2020-21. The Appellate Authority has ruled in favor of the company, setting aside a total demand of INR 15.13 crore, which included INR 1.32 crore in penalties and applicable interest. Consequently, the company’s liability related to this specific tax dispute has been reduced to NIL, with no adverse impact on its financial or operational activities.
Resolution of Tax Dispute
Hexaware Technologies announced the successful resolution of a tax matter pertaining to the 2020-21 financial year. The company had previously been issued an order by the State Tax Officer in Chennai regarding the non-payment of tax on alleged non-realization of export proceeds. Following a formal appeal, the Appellate Authority has officially set aside the order.
Financial and Operational Impact
The total demand originally issued against the company amounted to INR 15.13 crore, which consisted of INR 1.32 crore in penalties plus associated interest. With the Appellate Authority’s favorable ruling received on May 13, 2026, the entire outstanding liability has been cancelled. Hexaware has confirmed that this development carries no financial or operational impact on the company’s ongoing business activities.
Source: BSE
