Powerica Limited
Details of Communication Received
The company received a Notice of Demand under Section 156 of the Income Tax Act, 1961, with respect to Intimation under Section 143(1) of the Income Tax Act, 1961.
Authority: Centralized Processing Center, Income Tax Department, Bengaluru
Date of Receipt: May 21, 2026, at 06:01 PM
Assessment Year: 2025-26
Financial Amount: Tax demand of ₹30,27,98,870 (Thirty Crore Twenty-Seven Lakh Ninety-Eight Thousand Eight Hundred Seventy Rupees)
Reason for Demand: The tax demand was received primarily due to setoff relating to advance tax, TDS, and self-assessment tax.
Financial and Operational Impact Assessment
The company has explicitly stated that:
- There is no material impact on the financials of the company
- There is no impact on the operations of the company
- There is no impact on other activities of the company
- This assessment applies to the current financial year
Compliance Status
- No aberrations or non-compliances were identified by the authority in the communication
- No penalty, restriction, or sanction was imposed pursuant to the communication
Company Action
The company has stated that the order is rectifiable. Powerica is currently reviewing the order and evaluating the next steps in this matter.
Additional Information
The intimation can be accessed on the company's website at www.powericaltd.com. The disclosure was digitally signed by Anita Praful Renuse, Company Secretary & Compliance Officer (ACS: 25102) on May 27, 2026.