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JTEKT India Limited ( (IN:JTEKTINDIA) ) has issued an announcement.
JTEKT India Limited has disclosed that it received an assessment order from the Income Tax Authority concerning its merged subsidiary, JTEKT Fuji Kiko Automotive India Limited, for the financial year 2022-23. The tax department noted that since the subsidiary was merged into JTEKT India with effect from 1 April 2022 and its income was already consolidated into the parent’s assessment, no separate tax addition or assessment is required for the subsidiary.
The company has clarified that this assessment order does not have any impact on its financials, operations or other activities. The disclosure, made under SEBI’s listing regulations, largely removes uncertainty around potential tax exposure from the merger and indicates that the integration of the subsidiary has not led to additional tax liabilities for JTEKT India.
More about JTEKT India Limited
JTEKT India Limited is an Indian automotive components manufacturer, operating production facilities in Gurugram, Haryana. The company forms part of the wider JTEKT group and focuses on supplying steering and related systems to domestic and international vehicle makers, positioning it within the broader auto components and OEM supply chain market.
Average Trading Volume: 9,782
Technical Sentiment Signal: Sell
Current Market Cap: 35.16B INR
See more data about JTEKTINDIA stock on TipRanks’ Stock Analysis page.