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Hinduja Global Solutions Limited ( (IN:HGS) ) just unveiled an update.
Hinduja Global Solutions has disclosed that the Income Tax Department’s Assistant Commissioner, Central Circle 2(3), Mumbai, has issued an assessment order under Section 143(3) of the Income Tax Act for assessment year 2021-22. The order, received on April 1, 2026, disallows a foreign exchange loss of Rs 34.31 crore, leading to a tax demand of Rs 15.49 crore, including Rs 6.95 crore in interest.
The company maintains that the disallowed foreign exchange loss constitutes legitimate business expenditure allowable under Section 37, and is consulting tax and legal advisers with the intention to appeal before the Commissioner of Income Tax (Appeals). HGS also believes there is an error in the computation of interest in the demand notice and plans to seek rectification under Section 154, while stating that the order is not expected to have any material impact on its financial, operational or other activities.
More about Hinduja Global Solutions Limited
Hinduja Global Solutions Limited is a business process management and outsourcing company that provides customer experience, back-office and digital solutions to clients across sectors. Listed on Indian exchanges under the symbol HGS, it operates from corporate offices in Bengaluru and Mumbai and serves a broad base of domestic and international customers.
Average Trading Volume: 6,887
Technical Sentiment Signal: Sell
Current Market Cap: 17.08B INR
For a thorough assessment of HGS stock, go to TipRanks’ Stock Analysis page.