Venus Remedies has informed that the company has concluded all pending Income Tax matters relating to earlier assessment years. Following favorable decisions at the appellate level and subsequent orders issued by the concerned authorities, all outstanding tax demands have been resolved in full. As a result, the contingent liability related to Income Tax, which was previously reported at Rs 33.44 crores, now stands at nil. Amounts that were earlier deposited under protest have also been refunded to the Company along with the applicable interest. This brings complete clarity and closure to all outstanding Income Tax matters and further strengthens the Company's financial position.
The above information is a part of company’s filings submitted to BSE.
