Tax Clouds Gather as Prostarm Faces ₹14.6M Audit Demand

Navi Mumbai-based power solutions firm Prostarm Info Systems Ltd has been sent a show cause notice by the Income Tax Department demanding ₹14.6 million of dues. The notice under sections of the Income Tax Act is for alleged discrepancies in tax returns and balance sheets filed for the last assessment year.

 

Points to Remember

About Prostarm Info Systems

Financial Snapshot (FY24)

The news comes at a delicate moment for Prostarm, which is in the process of preparing for public listing. The result of the tax hearings can have implications for investor sentiment and regulatory attention leading up to the IPO.

 

Sources: Economic Times, Screener, Taxscan