Siemens has received a final assessment order from the Income Tax Department for the Assessment Year 2022-23. The order includes a tax demand of INR 62.94 million (approx.) due to certain transfer pricing adjustments. The company is currently in the process of filing an appeal against this order and does not expect it to have a material financial impact.
Assessment Order Details
Siemens has received a final assessment order from the Income Tax Department concerning the Assessment Year 2022-23. The tax demand arising from this assessment is approximately INR 62.94 million.
Basis of the Order
The demand relates to adjustments made to transfer pricing. The company is analyzing the details of the order. The announcement was made on December 2nd, 2025.
Company’s Response
Siemens is taking action by filing an appeal against the order. At present, Siemens anticipates that the order will not lead to any substantial financial impact on the company’s overall financial standing. The company will provide updates if the situation changes significantly.
Source: BSE