3 insights to kick-start your day, featuring Maruti and Mahindra run into tax problems

Maruti’s tax pain This just in. Maruti Suzuki hit with INR2,159 crore draft income tax assessment order for FY20. Hidden in plain sight. Of late, the Indian automotive industry has come under heavy scrutiny of the income tax department. This year, penalties have been imposed on both Maruti and Mahindra & Mahindra (M&M). They faced a penalty of over INR14.3 lakh for incorrect input-tax credit availed during the transition from excise