Vishal Mega Mart Subsidiary Receives Income Tax Order

Airplaza Retail Holdings Pvt Ltd, a subsidiary of Vishal Mega Mart, received an income tax order under Sections 201 & 201(1A) for FY2019-20.
The order alleges non-deduction of TDS and non-payment of interest on TDS, with a total demand of ₹3.29 crore.
The subsidiary is reviewing the order and evaluating next steps; no further material financial impact is anticipated.