Edelweiss Financial Services has informed that as per Regulation 30 read with Schedule III of the Listing Regulations, Edelweiss Rural & Corporate Services, a subsidiary of the Company, has, pursuant to search, received the assessment order and demand notice on June 4, 2024, under Section 147 of the Income Tax Act, 1961, for the assessment year 2020-21 and a tax demand of Rs 70 lakhs (including interest) on account of certain disallowances. The order is being examined and the appropriate steps, including filing of appeals and rectification applications would be taken in this regard. Also informed that the demand is not sustainable and would have no material impact on financials, operations or other activities of the Company.
The above information is a part of company’s filings submitted to BSE.
