2024-03-23 17:26:56
New Delhi: If you invest in the stock market then this news is useful for you. Ratan Tata’s Tata Chemicals and Airtel have been fined heavily. The Income Tax Department has imposed a fine of Rs 103.63 crore on Tata Chemicals for violation of rules related to disallowance of interest. Tata Chemicals said in a filing to the stock exchanges on Thursday that it has received an order from the National Faceless Assessment Center of the Income Tax Department for disallowance of interest under section 36(1) of the Income Tax Act and section 270A(3). ) A fine of Rs 103.63 crore has been imposed. The Tata Group company said that based on the merits of the case, prevailing law and counsel’s advice, it plans to appeal against this order before the National Faceless Appeal Center (Appellate Authority). The company said it expects a favorable order from the appellee authorities.
This much fine imposed on Airtel
Meanwhile, the Department of Telecommunications has imposed a fine of about Rs 4 lakh on Bharti Airtel for violation of customer verification norms in Delhi and Bihar circles. Bharti Airtel has given this information in the information sent to the stock market. The company has protested against the fine of Rs 1.46 lakh imposed by the Department of Telecommunications in Bihar circle.
Will the impact be visible on the stock?
Currently, the share of Tata Chemicals had closed at the level of Rs 1036 yesterday i.e. Thursday with a rise of more than 4 percent. Airtel fell by 8 points and closed at Rs 1223. According to experts, the impact of this fine imposed on companies can be seen on the shares.
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