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Info Edge India Ltd. ( (IN:NAUKRI) ) just unveiled an update.
Info Edge (India) Ltd. has disclosed that it received an income-tax assessment order and a consequent demand notice for Assessment Year 2024-25, raising a tax demand of Rs 3.65 crore under Section 143(3) of the Income Tax Act. The demand primarily arises from the disallowance of employee stock option (ESOP) expenses claimed by the company, a matter on which similar disallowances for earlier years have often been decided in Info Edge’s favour at the tribunal level, though some appeals remain pending before higher authorities.
The company said the latest order is appealable and is currently being reviewed as management evaluates next steps, while similar ESOP-related disputes for prior years are already before the Commissioner of Income Tax (Appeals). Info Edge emphasised that the tax demand does not have a material impact on its financials, nor does it affect its operations or other activities in the current financial year, suggesting limited immediate risk for shareholders and other stakeholders.
More about Info Edge India Ltd.
Info Edge (India) Ltd. is an Indian internet services company best known for operating online recruitment platform Naukri.com, along with other digital classifieds and related businesses. It focuses on technology-driven platforms connecting jobseekers, employers and consumers in high-growth segments of the domestic digital economy.
Average Trading Volume: 83,327
Technical Sentiment Signal: Hold
Current Market Cap: 635.4B INR
Learn more about NAUKRI stock on TipRanks’ Stock Analysis page.