Polycab India Share Price in Focus; Income-Tax Demand Reduced to ₹57.58 Crore From ₹327.45 Crore

Polycab India announced that the income-tax demand raised against the company has been reduced to ₹57.58 crore from ₹327.45 crore after the tax department issued a rectification order.  

The earlier demand had followed an assessment by the Income Tax Department for the assessment year 2024-25, relating to the financial year 2023-24. 

The revised order was received on 9 March 2026 from the Office of the Deputy Commissioner of Income-Tax, Mumbai. The development was disclosed by the company on March 10, 2026.  

Assessment Order and Initial Demand 

The original demand arose from an assessment order issued under Section 143(3) of the Income-Tax Act, 1961. The order, received on March 3, 2026, included additions and disallowances totalling ₹41.87 crore. 

Following the assessment, the tax authority issued a notice of demand under Section 156 of the Act. This resulted in a total tax demand of ₹327.45 crore being raised against the company.  

Errors Identified in the Assessment 

Polycab said the assessment order contained computational and clerical errors. The company subsequently filed an application for rectification under Section 154 of the Income Tax Act. 

After reviewing the request, the tax authority issued a rectification order, reducing the demand to ₹57.58 crore. The revision shows corrections made to the earlier calculations in the assessment order.  

Further Rectification and Appeal 

The company said the remaining demand mainly relates to advance tax credit that has not yet been granted. According to Polycab, this issue can also be corrected through further rectification under the same provision of the law. 

The company has initiated the process of filing another rectification request before the jurisdictional assessing officer. In addition, it plans to file an appeal against the additions made in the assessment order under the applicable provisions of the Income-Tax Act.  

Read More: Brigade Enterprises Share Price in Focus; Launches 25-Acre Brigade Industrial Park Near Bengaluru Airport! 

Polycab India Share Price Performance  

As of March 11, 2026, 9:49 am, Polycab India share price was trading at ₹7,621.50, a 1.31% decrease from the previous closing price. 

Conclusion 

Polycab stated that it is taking the required steps to address the matter through rectification and the appeals process. The company said it does not expect the tax order to have any material impact on its financial position or its operations. 

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