Mumbai, January 28, 2025 – Blue Dart Express Limited (NSE: BLUEDART, BSE: 526612) has disclosed that it has received an Income Tax Department (TDS) demand notice totaling ₹17.01 crore, plus ₹10.70 crore in interest, for alleged violations related to payments made to transporters under Section 194C(6) of the Income Tax Act, 1961.
Key Details of the Tax Demand Notice
| Particulars | Details |
|---|---|
| Issuing Authority | Income Tax Department (TDS), India |
| Date of Order Receipt | January 27, 2025 |
| Legal Reference | Order under Section 201 & Notice of Demand under Section 156 of the Income Tax Act, 1961 |
| Alleged Violation | Payments made to transporters without TDS deduction under Section 194C(6) |
| Tax Demand Amount | ₹17,01,42,073 (₹17.01 crore) |
| Interest Payable | ₹10,70,75,763 (₹10.70 crore) |
| Total Liability Raised | ₹27.71 crore |
Blue Dart’s Response & Next Steps
- The company is currently analyzing the tax demand order and will evaluate possible legal and financial options before taking further action.
- No immediate payment has been made, and the company is expected to file an appeal or seek a resolution.
Financial & Operational Impact
- While the ₹27.71 crore liability is significant, Blue Dart’s strong cash flows and financial position are expected to mitigate the impact.
- Investors will closely monitor whether the company makes provisions for this liability in its upcoming financial results.
Investor Outlook & Regulatory Considerations
- The case highlights increased regulatory scrutiny over TDS compliance in logistics and transportation sectors.
- The final resolution will depend on Blue Dart’s legal appeal and discussions with tax authorities.