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Akzo Nobel India Limited ( (IN:AKZOINDIA) ) just unveiled an announcement.
Akzo Nobel India Limited has disclosed that the Income Tax Department’s Assessing Officer has issued a draft assessment order for assessment year 2023-24, proposing additions of Rs 111.63 crore to the company’s taxable income under corporate tax and transfer pricing provisions. The company has informed stock exchanges that this is only a draft order, with the financial impact and precise quantum of claims yet to be determined, and it is currently analysing the order and preparing submissions or appeals in consultation with tax advisors, signaling potential tax exposure but no immediate quantified liability for shareholders and other stakeholders.
More about Akzo Nobel India Limited
Akzo Nobel India Limited operates in the paints and coatings industry, offering decorative paints and performance coatings for consumer and industrial customers across India. As part of the global AkzoNobel group, the company focuses on the Indian market for architectural coatings and specialty finishes, supplying products for housing, infrastructure, and industrial applications.
Average Trading Volume: 34,492
Technical Sentiment Signal: Hold
Current Market Cap: 126.1B INR
Find detailed analytics on AKZOINDIA stock on TipRanks’ Stock Analysis page.