ICICI Securities faces penalty order for FY21 assessment
ICICI Securities (ISEC) has announced it received a penalty order on February 27, 2025 from the Income Tax Department for Assessment Year 2020-21, under Section 270A of the Income Tax Act, 1961. The company is assessing legal remedies, including an appeal. The penalty was raised due to under-reporting of income stemming from deduction claims on education cess paid on income tax and amounts to ₹12,365,704. ICICI Securities is evaluating its options and will determine its next course of action.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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