STOCKWATCH

Siemens Ltd Receives INR 62.94 Million Tax Demand for AY 2022-23; Plans to Appeal

Siemens Ltd has received a final assessment order from the Income Tax Department for Assessment Year 2022-23 with a tax demand of INR 62.94 million (approx.) on account of certain transfer pricing adjustments. The company is in the process of filing an appeal against the order and does not foresee any material financial impact due to the order.

• Siemens Ltd has received a final assessment order from the Income Tax Department for AY 2022-23
• The order demands INR 62.94 million (approx.) on account of transfer pricing adjustments
• The company intends to file an appeal against the assessment order
• Siemens Ltd does not anticipate any significant financial impact due to the order
• The order is related to tax litigation