Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Quess Corp. Ltd. ( (IN:QUESS) ) just unveiled an announcement.
Quess Corp Ltd has disclosed that it received a final assessment and demand order from the Income Tax Department for Assessment Year 2022-23, raising a tax demand of Rs 159.92 crore. The order, which aligns with earlier adjustments for FY 2016-17 to FY 2020-21 that the company is already contesting before the Income Tax Appellate Tribunal, primarily stems from disallowances related to deductions under Section 80JJAA of the Income Tax Act and certain expense claims. Quess has stated that it intends to appeal the latest order, asserting that it has strong legal grounds supported by precedents, and will challenge the assessment through appropriate legal forums, signaling potential prolonged tax litigation but no immediate operational disruption indicated at this stage.
More about Quess Corp. Ltd.
Quess Corp Limited is an Indian business services provider based in Bengaluru, operating across staffing, facilities management and related outsourcing solutions for enterprises. The company serves a broad range of industries through workforce and operational support services, positioning itself as a large organized player in the domestic services and employment market.
Average Trading Volume: 15,463
Technical Sentiment Signal: Sell
Current Market Cap: 31.06B INR
Find detailed analytics on QUESS stock on TipRanks’ Stock Analysis page.