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PTC India Limited received a Demand Notice from the Income Tax department for a penalty of Rs 11.80 lakh

01-Aug-26   18:32 Hrs IST
PTC India Limited has disclosed receiving a Demand Notice from the Income Tax department pertaining to a penalty for Assessment Year 2013-14. The notice, received on July 31, 2026, relates to a penalty of Rs 11,80,047 under Section 271(1)(c) of the Income Tax Act, stemming from prior disallowances totaling Rs 4,65,78,838 which were subsequently reduced to Rs 12,12,357 following a favorable order in March 2026. According to the company, the penalty order is currently appealable and PTC India Limited intends to contest the order through a formal appeal to the Commissioner of Income Tax (Appeals), with no anticipated material impact on the company's financials, operations, or other activities.

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