Rallis India Limited Receives Demand Order from the Office of the Assistant Commissioner of Income Tax, Mumbai, for Assessment Year 2020-21
July 10, 2024 at 06:25 pm
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Rallis India Limited has received a demand order on July 10, 2024, from the Office of the Assistant Commissioner of Income Tax, Mumbai, for Assessment Year 2020-21 of INR 12,16,70,750/-. This demand is due to transfer pricing adjustment, disallowance of weighted deduction of R&D expenditure and disallowance of expenses relating to exempt income. Based on the merits of the matter, prevailing law and the advice of the counsel, the Company is planning
to appeal against these orders before the appellant authority and reasonably expects a favorable order from the appellant authority. The Company does not foresee any material impact on its financial, or operational or other activities.
Rallis India Limited is an India-based company, which is engaged primarily in the business of manufacturing and marketing of agri-inputs. It is engaged in manufacturing, distribution, sales and marketing of crop protection, and a variety of field crops. The agri-inputs consists of crop protection products, plant growth nutrients, organic compost and processing of seeds and provides agri-solutions under its Rallis Samrudh Krishi (RSK) initiative. Its business areas include domestic crop protection, international business, contract manufacturing, seeds, plant growth nutrients and agri-services. It offers crop protection products, such as fungicides, herbicides, insecticides, bio pesticide. It is engaged in the business segments of crop protection chemicals, specialty chemicals, polymers, and intermediates through contract manufacturing. Its seed division is an agricultural biotechnology company focusing on developing traits and technologies for crop protection and improved productivity.
RALLIS INDIA LIMITED 
