CRISIL Receives TDS Proceedings Order for AY 2020-21, Demand of ₹27.24 Crore Raised
CRISIL Limited received a TDS proceedings order for AY 2020-21, raising a demand of ₹27.24 Crore (including interest) on foreign payments. The company plans to appeal the order, stating no immediate financial or operational impact.
While the company states no immediate impact, a tax demand of ₹27.24 crore could potentially affect future financials if the appeal is unsuccessful. The ongoing litigation also creates some level of uncertainty.
The company received a tax demand, which is a negative event. However, the company plans to appeal and states there is no immediate financial or operational impact, balancing the sentiment to neutral.
CRISIL Limited has received a TDS proceedings assessment order under Section 201(1) and 201(1A) read with Section 195 of the Income Tax Act, 1961, dated March 29, 2026. This order pertains to the financial year 2019-20 (Assessment Year 2020-21) and concerns a demand for Tax Deducted at Source (TDS) on foreign payments.
The demand has been raised based on previous years' orders on the same issue, against which CRISIL has already filed an appeal before the Hon'ble Commissioner of Income Tax (Appeals).
The TDS demand, including interest, amounts to ₹27.24 Crores. CRISIL Limited has stated that there is no immediate impact on the financial, operational, or other activities of the Company. The company intends to file an appeal against this order.
What to do with a filing like this
CRISIL Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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