Shivam Autotech Limited received Show Couse Notice from the office of the Income Tax Officer (TDS) U/S 279 (1) of Income Tax Act, 1961. Show Couse Notice u/s 279 (1) of Income Tax Act, 1961, to the company and Executive Directors for late deposit of TDS (Tax Deducted at Source) for the financial year 2021-22 Amount of INR 10,323,872/-. Date of receipt: April 16, 2024.

Deposit of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) after the prescribed dates as per Rule 30 of Income Tax rules for the financial year 2021-22. The Company will challenge the same based on strong merits by way of filing its reply/submissions, before the relevant authorities. There is no material impact on financial, operation or other activities of the Company due to this show cause notice.

The impact will be limited to the extent of final tax liability as may be ascertained along with interest and penalty, if any.