Nucleus Software Receives Income Tax Order for AY 2023-24; No Material Impact
Nucleus Software received an income tax order for AY 2023-24, with a demand of ₹28.33 lakh raised due to transfer pricing adjustments. The company disputes the order and will appeal. It stated there is no material impact on financials or operations.
The company has explicitly stated that the order has no material impact on its financials, operations, or other activities. The demand amount is also relatively small compared to the company's overall financial size.
The company received an income tax demand but believes it is not maintainable and will appeal. The company explicitly stated there is no material impact on its financials or operations, making the sentiment neutral.
Nucleus Software Exports Limited has received an order from the Income Tax Department for Assessment Year 2023-24. The order raises an income tax demand of ₹28,33,460, including interest, primarily due to adjustments made to transfer pricing margins on intercompany transactions. The company believes the order is not maintainable and is in the process of filing appeals against it.
Furthermore, the Assessing Officer has initiated penalty proceedings in this regard. Despite the demand and penalty proceedings, Nucleus Software has stated that the order has no material impact on its financials, operations, or other activities. The company is reviewing the order and will take appropriate action, including responding to the penalty proceedings.
The announcement was made on May 06, 2026, and the details were provided in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
What to do with a filing like this
Nucleus Software Exports Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Nucleus Software Exports Limited. Read the original for the full detail.