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Remember The Grasim Demerger? It’s Staring At A Tax Hit Of Over Rs 5,800 Crore
The demerger of Grasim’s financial services undertaking to Aditya Birla Capital is considered a taxable event by IT authorities.
25 Mar 2019, 07:59 PM IST
Nearly two years after the Aditya Birla Group implemented a restructuring of group companies Nuvo, Grasim and Aditya Birla Capital, the income tax department has found fault with one leg of the transaction. Last week, Grasim Industries Ltd. informed stock exchanges of a Rs. 5,872 crore tax demand against it on account of Dividend Distribution Tax for the demerger leg of the restructuring.Here is a brief history of the transaction..Ba...
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