Powerica receives ₹30.28 crore tax demand for AY 2025-26
Powerica Limited received a tax demand of ₹30,27,98,870 under Section 143(1) for Assessment Year 2025-26, issued by the Centralized Processing Center in Bengaluru. The demand relates to setoffs for advance tax, TDS, and self-assessment tax. The company stated the order is rectifiable and there is no material impact on its financials or operations for the current financial year.
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Powerica Limited has received a tax demand of ₹30,27,98,870 under Section 143(1) of the Income Tax Act, 1961 for Assessment Year 2025-26. The notice was issued by the Centralized Processing Center, Income Tax Department, Bengaluru, on May 21, 2026. The company stated that the demand arose primarily due to setoffs relating to advance tax, Tax Deducted at Source (TDS), and self-assessment tax.
The company disclosed that the order is rectifiable and it is currently reviewing the order to evaluate the next steps. Despite the demand, Powerica Limited stated 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.
The disclosure was made to the stock exchanges on May 27, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing included an annexure detailing the specifics of the communication received from the tax authority.
| Particulars | Details |
|---|---|
| Name of the listed company | Powerica Limited |
| Type of communication received | Notice of Demand dated May 21, 2026 w.r.t. Intimation u/s 143(1) for the Assessment Year 2025-26 |
| Date of receipt of communication | May 21, 2026 at 06:01 PM |
| Authority from whom communication received | Centralized Processing Center, Income Tax Department, Bengaluru |
| Tax Demand Amount | ₹30,27,98,870 |
| Period | Assessment Year 2025-26 |
| Expected financial implications | No material impact on financials, operations, or other activities |
| Action taken | The Order is rectifiable; the Company is reviewing the order and evaluating the next step |
Historical Stock Returns for Powerica
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.51% | -1.39% | +18.74% | +41.40% | +41.40% | +41.40% |
What is the likelihood of the company successfully rectifying the order, and what is the expected timeline for resolution?
Could recurring tax demands of this nature signal a need for adjustments in Powerica's advance tax computation strategy?
How might investors react to the discrepancy between the significant tax demand and the company's claim of no material financial impact?
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