Swiggy has received an order for the period April 2018 to March 2019 passed by Deputy Commissioner of Income-tax, TDS, TDS Circle – 3(1), Bangalore, according to the Company’s exchange filing.
The Company has received a demand of tax of ₹ 56,96,125/- with interest of ₹ 41,58,171/- March 26, 2025.
The matter relates to the non-deduction of tax under section 194C of the Income-tax Act, 1961 on the cancellation charges paid to the merchants by the Company.
The section deals with the non-deduction of tax for the payments to contractors.
The Company is likely to challenge the order before the appellate authority. “The Company believes that it has strong arguments against the Order and is taking necessary steps to protect its interest through review/appeal,” Swiggy said in their regulatory filing.
The online food ordering and delivery company assures the stakeholders that the order to have no major adverse impact on its financials and operations.
