Poonawalla Fincorp has received an order from the Commissioner of Income Tax (Appeals) sustaining a penalty of ₹16.39 lakh. The penalty relates to the financial year 2018-19, predating the company’s acquisition. The company says it maintains high governance standards and is committed to regulatory compliance.
Income Tax Penalty Upheld
An order has been received confirming a penalty for Poonawalla Fincorp. The order, dated November 16, 2025, sustains a penalty of ₹16,39,570. This relates to matters from the financial year 2018-19.
Details of the Penalty
The penalty was originally levied for disallowance of education cess claimed in the revised tax return for FY 2018-19. This penalty has been upheld by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi.
Company Statement
Poonawalla Fincorp states that it maintains high standards of governance and compliance. It says it remains committed to upholding those standards. The company has determined that the said order will not have a material impact on its financials or operations.
Source: BSE