Income Tax Department Reduces Polycab's Tax Demand to ₹57.6 Crore from ₹327 Crore via Rectification Order
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Polycab's Tax Demand Slashed to ₹57.6 Cr from ₹327 Cr After Rectification Order
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CNBC TV18•10-03-2026, 19:50
Polycab's Tax Demand Slashed to ₹57.6 Cr from ₹327 Cr After Rectification Order
•Polycab India Limited's income-tax demand for Assessment Year 2024-25 reduced from ₹327.45 crore to ₹57.58 crore.
•The reduction followed a rectification order from the Office of the Deputy Commissioner of Income-Tax, Mumbai, addressing computational and clerical errors.
•Polycab will seek further rectification for non-granting of advance tax credit and plans to appeal against additions made in the original assessment order.
•The company anticipates no material impact on its financial position or operations due to the rectification order.
