Mastek Limited has resubmitted a disclosure following a clarification from BSE Limited regarding an earlier announcement about a Final Assessment Order from the Income Tax Department for FY 2022-23. The company explained that the initial disclosure was delayed because the order was received during a weekend (May 30, 2026), and a thorough review was necessary to ensure accuracy and completeness of information before public dissemination. The Final Assessment Order includes a transfer pricing addition of ₹90,95,38,080 and an addition under domestic tax laws of ₹32,62,88,114, totaling ₹1,23,58,26,194. The Income Tax Department has also initiated penalty proceedings under Section 270A. Despite the additions, Mastek Limited does not anticipate any material financial implications at this stage. The company has identified apparent errors in the computation sheet annexed to the order, including an incorrect tax liability rate, non-allowance of foreign tax credit, and non-grant of credit for advance tax paid by an amalgamated subsidiary. Mastek Limited intends to file its objections and response with the Income Tax Appellate Authorities within the prescribed timelines, asserting that the order will not impact the company's financials, operations, or other activities.
