PTC India Limited has disclosed a demand notice for a penalty of ₹11,80,047 from the Income Tax Department for the Assessment Year 2013-14. This notice relates to an addition of ₹4,65,78,838 made under Rule 8D, which was subsequently reduced. The company disputes the penalty order and plans to file a formal appeal, stating there will be no material impact on its financials or operations.
Demand Notice Received for Tax Penalty
PTC India Limited has received a Notice of Demand under Section 156 of the Income Tax Act, 1961, imposing a penalty of ₹11,80,047 for the Assessment Year 2013-14. The penalty stems from additions made by the Income Tax department amounting to ₹4,65,78,838 under Rule 8D for the same assessment year. Following a favorable order in March 2026, the disallowance was reduced to ₹12,12,357.
Company’s Stance and Future Actions
PTC India Limited intends to contest this penalty order. The company stated that the order is currently appealable, and it will file a formal appeal before the Commissioner of Income Tax (Appeals). Despite the receipt of the penalty order, PTC India has indicated that there will be no material impact on its financials, operations, or other activities as a result of this penalty.
Disclosure Compliance
This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information is also being uploaded on the company’s official website, www.ptcindia.com.
Source: BSE
