IIFL Finance Ltd has received an income tax assessment order from the Joint Commissioner of Income Tax, Central Circle 4(4), Mumbai, raising a tax demand of ₹475.56 crore for the block period April 1, 2018, to February 3, 2025, under Section 158BC(1)(c). According to reports from CNBC TV18, the assessment order was received on May 12, 2026, and the company has stated it will challenge the order while not expecting any material financial impact.
The NBFC providing gold loans and business loans stated that it believes it has duly discharged all applicable tax liabilities and has adequate factual and legal grounds to support its position. As reported by CNBC TV18, IIFL Finance is evaluating available options and will pursue appeals against the order under applicable laws. The company emphasized it does not expect any material impact on its financials or operations due to the order.
Shares of IIFL Finance Ltd ended at ₹445.05, down by ₹17.85, or 3.86%, on the BSE following the announcement. According to CNBC TV18, this represents the company's most significant decline in three months, with the stock turning negative for April. The market reaction reflects investor concerns over the substantial tax demand despite the company's confidence in its legal position.
