Hero MotoCorp gets Rs 605 crore demand notice from Income Tax dept

“The company has received the aforesaid orders / notices pertaining to six assessment years, amounting to a tax demand of Rs 308.65 crore and interest thereon of Rs 296.22 crore,” the automaker said in an exchange filing today.

Autocar Professional BureauBy Autocar Professional Bureau calendar 04 Apr 2024 Views icon4028 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Hero MotoCorp gets Rs 605 crore demand notice from Income Tax dept

India’s largest two-wheeler maker Hero MotoCorp has received a tax demand notice from the Income Tax department for Rs 604.87 crore, including interest, for six assessment years.

“The company has received the aforesaid orders/notices pertaining to six assessment years, amounting to a tax demand of Rs 308.65 crore and interest thereon of Rs 296.22 crore,” the automaker said in an exchange filing today.

The demand is on account of certain disallowances for the assessment years from 2013-14 to 2017-18 and 2019-20. Hero MotoCorp said it would appeal against the orders with appellate authorities including filing of rectification applications.

“In the opinion of the Management, the demand raised is unsustainable in nature, and is unlikely to have a material impact on financials, operations, or other activities of the company,” Hero MotoCorp added.

Earlier this week, Maruti Suzuki received an appeal effect order to tax demand notice of Rs 238.72 crore for certain additions and disallowances in the financial year 2010. 

RELATED ARTICLES
SIAM Conclave Explores Sustainable Strategies for Automotive Logistics

auther Sarthak Mahajan calendar18 Jul 2025

Stakeholders discuss multimodal transport, digital innovation, and sustainable practices to improve efficiency and resil...

Varroc Appoints Padmanabh Sinha as Independent Director

auther Shruti Shiraguppi calendar18 Jul 2025

Sinha returns to Varroc’s Board with over 25 years of investment experience across private equity and technology.

Railways To Introduce More Specialized Wagons For Vehicle Transportation: Hitendra Malhotra

auther Kiran Murali calendar18 Jul 2025

Hitendra Malhotra, a member of the Railway Board for Operations & Business Development at the Ministry of Railways noted...