Crisil Limited has received a significant tax demand from the Income Tax Authority, disclosing a TDS proceedings assessment order demanding ₹27.24 crores for Assessment Year 2020-21. The company made this disclosure under Regulation 30 of the SEBI Listing Regulations on March 30, 2026.

TDS Assessment Details

The assessment order was received on March 29, 2026, under sections 201(1) and 201(1A) read with section 195 of the Income Tax Act. The demand pertains to TDS on foreign payments for the Financial Year 2019-20 (Assessment Year 2020-21).

Nature of Dispute

The TDS demand has been raised based on previous years' orders on the same issue. Crisil has indicated that this is not an isolated matter, as the company has already filed an appeal before the Hon'ble CIT(Appeals) against similar orders from previous years. The current demand follows the same pattern of disputes regarding TDS obligations on foreign payments.

Company's Response and Financial Impact

Crisil has clarified that there is no immediate impact on the company's financial, operational, or other activities due to this assessment order. The company has announced its intention to file an appeal against the current order, following the same approach taken for similar demands in previous years.

The disclosure was made in compliance with SEBI regulations, ensuring transparency with stakeholders regarding material developments that could potentially affect the company's operations or financial position.

Crisil Limited has received a re-assessment order from the Income Tax Authority demanding ₹121.20 crores for Assessment Year 2017-18. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Regulations on March 24, 2026.

Details of the Re-assessment Order

The re-assessment order under Section 147 was issued on March 23, 2026, concerning Crisil Limited's income tax return for FY 2016-17 regarding its merged subsidiaries. The dispute centers around tax computation errors despite the Assessing Officer's acceptance of the company's income declaration.

Nature of the Dispute

According to the company's disclosure, the subsidiaries' income was already merged with Crisil Limited's income and tax was appropriately offered. The Assessing Officer acknowledged that there was no escapement of income from tax and issued a clean order accepting the income offered to tax.

However, the tax computation contained significant errors:

• Unwarranted additions were made to the tax calculation
• Credit for taxes already paid was not properly given
• These computational errors resulted in an incorrect demand order

Company's Response and Financial Impact

Crisil Limited has clarified that there is no immediate impact on the company's financial, operational, or other activities due to this order. The company has outlined its planned course of action to address the erroneous demand.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI Circular dated January 30, 2026. The company has fulfilled its obligation to inform stakeholders about material developments that could impact investor decisions.

The company secretary, Minal Bhosale, signed the disclosure document, ensuring proper corporate governance procedures were followed in communicating this development to the stock exchanges and investors.