Taxman Knocks: Siemens Hit with ₹62.94 Million Demand, Gears Up for Appeal

Tax liability: ₹ 62.94 million demanded for AY 2022-23.&nbsp;
Reason: Arises from transfer pricing adjustments by the tax authorities.&nbsp;
Next steps: Siemens Ltd intends to challenge the order via an appeal.&nbsp;
Regulatory disclosure: The demand was formally communicated through a filing under Listing Regulations.&nbsp;

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Siemens Ltd has received a final tax assessment from the Income Tax Department demanding ₹ 62.94 million for AY 2022-23, following transfer pricing adjustments. The company has disclosed this via a regulatory filing and plans to appeal the order, adding to its existing tax-litigation portfolio.