Major two-wheeler manufacturer Hero MotoCorp announced on Thursday that the Income Tax agency has sent them a demand notice for almost Rs 605 crore, interest included, for six assessment years. The business stated in a regulatory filing that it received assessment orders/demand notifications dated March 30, 2024, referring to six assessment years, from the Income Tax department on April 3, 2024.
It further stated that the two-wheeler giant is reviewing the directives and notifications received and would take the necessary action, such as submitting applications for rectification and appeal. According to Hero MotoCorp, the notification relates to six assessment years and represents a tax claim of Rs 309 crore plus interest. It further said that this is due to specific disallowances for the assessment years 2013–14 through 2017–18 and 2019–20. New notices: Rs 3.5k crore in total taxes demanded from the CongressCongress fights rising income tax demands amounting to Rs 3,567 crore at a crucial time for the Lok Sabha elections. The party faces legal obstacles, including a judicial challenge to a substantial recovery notice, in the midst of claims that tax officials are unfairly pursuing them.
"Got two more income tax notices last night," the Congress said.Congress, which accuses the BJP of tax terrorism, is facing tax notifications and penalty requests. After the court rejection, further notifications are sent out stressing the finances ahead of the Lok Sabha elections. In response to accusations of using different standards, Maken brings up Sitaram Kesari, the Election Commission, and bank account freezing.
Congress charges the BJP of "tax terrorism" and seeks an additional Rs 1,823 crore in income taxes.The Congress Party, which has accused the BJP of "tax terrorism" ahead of the Lok Sabha elections, is facing requests for an additional Rs 1,823.08 crore in income taxes. Jairam Ramesh and Ajay Maken want to appeal these requests to the Supreme Court.
