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Cummins India Limited ( (IN:CUMMINSIND) ) has shared an announcement.
Cummins India Limited has disclosed that it received two rectification orders from the Deputy Commissioner of Income Tax, Pune, under Section 155(18) of the Income-tax Act, 1961, raising demands of Rs 32.98 crore for FY 2018-19 and Rs 12.84 crore for FY 2016-17. The company believes these tax demands arise from apparent errors on the record and is pursuing remedial actions with the authorities, expecting the demands to be quashed, which, if resolved as anticipated, would limit any material financial or operational impact on stakeholders.
More about Cummins India Limited
Cummins India Limited is a leading player in the Indian power solutions and engineering sector, engaged in manufacturing and servicing diesel and gas engines, generators, and related technologies. The company caters to industrial, power generation, and automotive markets, and is a key part of the global Cummins network, with a strong presence in domestic and export markets.
Average Trading Volume: 26,339
Technical Sentiment Signal: Buy
Current Market Cap: 1247.5B INR
Learn more about CUMMINSIND stock on TipRanks’ Stock Analysis page.