PB Fintech Limited ( (IN:POLICYBZR) ) just unveiled an announcement.
PB Fintech Limited has announced that its subsidiary, Paisabazaar, received an assessment order from the Income Tax Department disallowing expenses of INR 85.60 crores for the assessment year 2023-24. Despite providing necessary documentation, the company plans to appeal the decision. Additionally, a demand notice for INR 9.32 crores was issued, which the company intends to rectify, as it contradicts the assessment order indicating no payable demand. The disallowance will not impact the company’s tax obligations due to available set-offs against previous losses.
More about PB Fintech Limited
PB Fintech Limited operates in the financial technology industry, primarily offering services through its subsidiary Paisabazaar Marketing and Consulting Private Limited. The company focuses on providing financial products and services, including insurance and credit solutions, to consumers in India.
YTD Price Performance: -24.98%
Average Trading Volume: 59,373
Current Market Cap: 729.9B INR
Find detailed analytics on POLICYBZR stock on TipRanks’ Stock Analysis page.