Ramco Systems Receives Income Tax Assessment Order for AY 2023-24
Ramco Systems received an Income Tax Assessment Order for AY 2023-24 with a tax demand of ₹0.30 million and transfer pricing adjustments of ₹404.11 million. The company disputes these and will file an appeal within 30 days, expecting a favourable outcome with no significant financial implications.
The tax demand and transfer pricing adjustments, although disputed, could potentially have financial implications if the appeal is unsuccessful. The company's confidence in a favourable outcome mitigates the immediate impact, but the pending appeal warrants a medium impact assessment.
The company has received an Income Tax Assessment Order with a tax demand and adjustments, which is a procedural event. While the company disputes the demand and plans to appeal, it expects a favourable outcome, balancing the potential negative of the order with the positive outlook.
Ramco Systems Limited has received an Income Tax Assessment Order under section 143(3) of the Income Tax Act, 1961, for the Assessment Year 2023-24. The order, dated March 2, 2026, determines a tax demand of ₹0.30 million (₹30 Lakhs) and includes transfer pricing adjustments amounting to ₹404.11 million (₹40.41 Crore).
The company disputes the tax demand and the adjustments made. Ramco Systems plans to file an appeal with the appropriate appellate authority within 30 days of receiving the order. The company is confident in achieving a favourable outcome and does not anticipate any significant financial implications from these disputed matters, based on preliminary assessments and advice from tax consultants.
What to do with a filing like this
Ramco Systems 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 medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Ramco Systems Limited. Read the original for the full detail.