Powerica Ltd receives rectification order revising tax demand to Rs 31.13 Cr
Powerica Ltd received a rectification order from the Income Tax Department revising the tax demand to Rs 31.13 Cr for Assessment Year 2025-26 due to TDS set-off. The company stated the order is rectifiable and it is evaluating next steps, while confirming no material impact on financials.
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Powerica Ltd has received a rectification order from the Income Tax Department revising the tax demand to Rs 31.13 Cr for Assessment Year 2025-26. The order, dated June 29, 2026, was issued under Section 154 of the Income Tax Act, 1961. The company stated that the revised demand is on account of TDS set-off and noted that the order is rectifiable.
In a filing to the exchanges, Powerica Ltd disclosed that the communication was received from the Centralized Processing Center, Income Tax Department, Bengaluru. This development follows an earlier disclosure on May 27, 2026, regarding an intimation of tax demand amounting to Rs 30.27 Cr under Section 143(1) of the Act for the same assessment year. The company had previously filed a formal response with the authorities on June 17, 2026, regarding the initial demand.
The company clarified that there is no material impact on the financials, operations, or other activities of the company relating to the order passed for the said Assessment Year in the current financial year. No aberrations, non-compliances, penalties, or sanctions were identified in the communication.
Details of the Rectification Order
The following table outlines the key particulars of the regulatory communication received by the company:
| Particulars | Details |
|---|---|
| Name of the listed company | Powerica Limited |
| Type of communication | Rectification Order received on June 29, 2026 w.r.t. sec 154 of the Act for the Assessment Year 2025-26 |
| Date of receipt | June 29, 2026 at 01:25 PM |
| Authority | Centralized Processing Center, Income Tax Department, Bengaluru |
| Brief summary | Tax Demand of Rs 31.13 Cr under Sec 154 of the Act in respect of Assessment Year 2025-26. Revised Tax demand is received on account of TDS set-off |
| Period applicable | Assessment Year 2025-26 |
| Financial implications | No material impact on the financials, operations, or other activities of the company |
| Action taken | The Order is rectifiable and the company is reviewing the order and evaluating the next step. A rectification application was filed on June 17, 2026 |
The company confirmed that the information provided is in compliance with Regulation 30(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Powerica
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.10% | -5.01% | +17.63% | +45.45% | +45.45% | +45.45% |
What is the likelihood of Powerica Ltd successfully contesting the revised tax demand through further rectification?
Could the increase in tax demand from Rs 30.27 Cr to Rs 31.13 Cr signal a broader scrutiny of the company's TDS credits?
How might this tax dispute influence investor sentiment regarding Powerica's compliance and risk management?
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