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MARUTI

has received a draft tax assessment order for FY22, proposing additions and disallowances totaling Rs 2,966 crore related to its reported income. This assessment highlights potential discrepancies in the company's income tax return. Details of the Draft Assessment Order Company Involved: Maruti Suzuki (MSIL) Financial Year: 2021-22 Proposed Amount: Rs 2,966 crore in additions/disallowances Nature of Proposal: The draft assessment order indicates that the Income Tax Authority has identified certain discrepancies in the income disclosed by the company in its tax return. Company's Response Action Plan: Maruti Suzuki plans to file objections against the draft assessment before the Dispute Resolution Panel. Impact on Operations: The company has stated that there will be no impact on its financial, operational, or other activities due to this draft assessment order. Context of Tax Authority Actions Broader Trends: This draft assessment order is part of a larger trend where Indian tax authorities are intensifying scrutiny over foreign companies and their tax compliance. Related Cases: Other companies, such as Samsung and Volkswagen, have also faced significant tax demands and legal actions from Indian tax authorities, indicating a stricter regulatory environment.