IIFL Capital Services Limited announced that its wholly-owned subsidiaries, IIFL Facilities Services Limited and IIFL Management Services Limited, have received tax demand orders from the Joint Commissioner of Income Tax. The cumulative demand amounts to ₹56.28 Crore, covering the block period from April 2018 to February 2025. The company maintains that it has discharged all tax liabilities and intends to contest these orders through the appropriate legal channels.
Details of Tax Demands
On April 22, 2026, two subsidiaries of IIFL Capital Services Limited received formal assessment orders regarding tax liabilities for the block period spanning April 01, 2018, to February 03, 2025. The tax authority has issued demands under Section 158BC(1)(c) of the Income Tax Act, 1961.
Financial Breakdown
The total demand is split between the two entities as follows:
- IIFL Facilities Services Limited: ₹6.82 Crore (including surcharge and cess)
- IIFL Management Services Limited: ₹49.46 Crore (including surcharge and cess)
Company Stance and Next Steps
IIFL Capital Services has stated that it believes its subsidiaries have fully met all applicable tax obligations. Based on existing factual and legal grounds, the company does not anticipate any material adverse impact on its overall financial position or operational capabilities due to these specific orders. Management is currently evaluating various legal options and plans to initiate an appeal process to challenge these tax demands in accordance with governing laws.
Source: BSE
